PostNL: stock slumps as 2022 outlook reduced
(CercleFinance.com) - PostNL shares fell heavily in Amsterdam on Monday after the group reduced its operating profit forecast for FY 2022.
The Dutch postal group's stock is currently down about 12%, bringing its year-to-date decline to over 20%.
This morning it reported a 75% drop in Q1 EBIT, to 33 million euros a far cry from 130 million euros a year ago, performance that is below the consensus of 41 million euros.
Revenues fell 16% to 806 million euros, again below the consensus of 846 million euros.
As a result of these weaker-than-expected results, PostNL now expects operating profit of 170 to 210 million euros this year, below the 210-240 million euros range it had previously set itself.
UBS analysts say that these changes are due to cost pressures and lower volume visibility.
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The Dutch postal group's stock is currently down about 12%, bringing its year-to-date decline to over 20%.
This morning it reported a 75% drop in Q1 EBIT, to 33 million euros a far cry from 130 million euros a year ago, performance that is below the consensus of 41 million euros.
Revenues fell 16% to 806 million euros, again below the consensus of 846 million euros.
As a result of these weaker-than-expected results, PostNL now expects operating profit of 170 to 210 million euros this year, below the 210-240 million euros range it had previously set itself.
UBS analysts say that these changes are due to cost pressures and lower volume visibility.
Copyright (c) 2022 CercleFinance.com. All rights reserved.