June 17, 2020 / 5:16 AM / 17 days ago

BRIEF-PostNL Sees Strong Improvement In Q2 Performance

June 17 (Reuters) - POSTNL NV:

* POSTNL PROVIDES UPDATE ON Q2 BUSINESS TRENDS AND FY 2020 OUTLOOK

* Q2 PERFORMANCE TO SHOW STRONG IMPROVEMENT, POSITIVELY IMPACTING FY 2020 OUTLOOK FOR NORMALISED EBIT AND FREE CASH FLOW

* IN PARCELS, VOLUME GROWTH ACCELERATED FROM CLOSE TO 14% AT THE END OF MARCH TO ABOVE 25% IN APRIL AND MAY

* NOW EXPECTS Q2 2020 NORMALISED EBIT TO COME IN STRONGLY ABOVE LAST YEAR (Q2 2019: €39 MILLION)

* FAVOURABLE PRICE/MIX DEVELOPMENT IN PARCELS AS REPORTED IN Q1 IS CONTINUING, AS IS THE POSITIVE TREND AT SPRING

* OUTLOOK FOR FY 2020 PERFORMANCE PROVIDED TODAY COULD BE IMPACTED BY UNCERTAINTIES ABOUT DURATION AND SEVERITY OF PANDEMIC

* ADJUSTS FY 2020 OUTLOOK FOR NORMALISED EBIT TO STRONGLY ABOVE PREVIOUS GUIDANCE OF BETWEEN EUR110 MILLION AND EUR 130 MILLION

* INCREASE IN NORMALISED EBIT IS EXPECTED TO TRANSLATE INTO IMPROVEMENT IN FREE CASH FLOW

* VOLUME DECLINE AT MAIL IN THE NETHERLANDS IN APRIL AND MAY WAS FURTHER IMPACTED BY STRONGER THAN EXPECTED DECLINE IN BULK MAIL, EXPLAINED BY COMPANIES POSTPONING DIRECT MAIL CAMPAIGNS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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