Post NL has posted its quarterly results, with strong profits driven by continuing increases in parcel volumes thanks to the ever-advancing growth of e-commerce.
Herna Verhagen, CEO of PostNL, said, “The good start of the year continued in the second quarter thanks to the efforts of our people and strong teamwork in a challenging environment as society opens up step by step. Of course, our key priority remains the health and safety of our people, customers and consumers.”
Verhagen said, “Performance at mail in the Netherlands was strong, partly related to Covid-19, although the underlying trend of substitution continues. Volume at parcels continues to grow, even when excluding the non-recurring part, which, as expected, has faded out as physical stores were allowed to reopen.”
Notably, the post is set to increase its parcel locker network, with a target of 1,500 lockers operational by 2024.
“To accommodate the stronger growth in parcel volumes we will expand our capacity earlier and more than anticipated. Furthermore, we will accelerate sustainability investments to speed up our progress towards our environmental, social and governance targets. Combined, our total investments in the 2022-24 period are estimated to be around €950m (US$1.13bn),” added Verhagen.