Outlook 2023 and beyond
2023 is expected to be a challenging year with continued macro-economic uncertainty. Parcel volume projections remain uncertain for the short term. PostNL now assumes a low single digit volume decline for the year, also taking into account some potential loss in market share. Organic costs will increase again, and will not
be fully offset by price adjustments in a competitive market characterised by overcapacity. In this operating environment, PostNL today announced a reduction of 200-300 FTEs in overhead and other measures to further
reduce indirect costs and improve efficiency, mainly at Parcels. This results in €20 million restructuring provision and related costs in 2023. At Mail in the Netherlands, volume decline is expected to continue at between 8%
and 10%. PostNL is well-positioned to resume its growth trajectory. In 2024, a margin improvement for PostNL of at least 200 basis points is expected. This results from additional cost savings mainly at Parcels, which are expected to be around €25 million in 2024 and reach a run-rate of around €30 million as of 2025. This margin improvement also assumes an upward trend in the development of e-commerce. Further upside is dependent on economic conditions. The company aims to pay dividend that develops substantially in line with operational performance.