Postnl Nv · EURONEXT:PNL
Postnl Nv — Shareholder Meeting (April 2025)
58 slides from Postnl Nv's shareholder meeting presentation, Apr 15, 2025
Slide 1: Annual general meeting of shareholders
Annual general meeting of shareholders The Hague – 15 April 2025
Slide 2: Agenda item 1: Opening and announcements
Agenda item 1 Opening and announcements Opening en mededelingen 2
Slide 3: Agenda item 2: Board report 2024
Agenda item 2 Board report 2024 Bestuursverslag 2024 Agenda item 2a Discussion of the developments in the financial year 2024, including an update on the ESG policy of PostNL Bespreking van de ontwikkelingen in het boekjaar 2024, inclusief een update op het ESG beleid van PostNL 3
Slide 4: Simplifying, connecting and advancing in a dynamic world
Simplifying, connecting and advancing in a dynamic world 4
Slide 5: Content
Content 1. FY 2024 performance 2. Strategy 3. Outlook
Slide 6: 1. FY 2024 performance
1. FY 2024 performance
Slide 7: Key takeaways 2024
Key takeaways 2024 Relentless efforts taken in a challenging year €53m normalised EBIT is unsatisfactory • Favourable NPS scores reaffirm strong position Parcels versus competition • Main driver shortfall result: severe margin pressure due • Well-executed cash and balance sheet management to acceler
Slide 8: PostNL at a glance
PostNL at a glance Key financial metrics Non-financial KPIs (in € million) FY 2023 FY 2024 Revenue • 6% average carbon efficiency improvement Parcels 2,260 2,370 • 28% share of emission-free last-mile delivery (2023: 24%) Mail in the Netherlands 1,373 1,338 • Emission-free delivery in 27 cities* end
Slide 9: First CSRD report published
First CSRD report published Steps in ESG policy in 2024 Environmental Scope 1 and 2* (GHG emissions in kilotons CO2) • 46% of own fleet electric, 330 e-vehicles added • 77% of own large trucks on renewable fuel Base year 2021 • 8% of delivery partner kilometres emission-free, 2023 90% 300 new e-vehi
Slide 10: FY 2024 cash flow well above outlook of around €0m
FY 2024 cash flow well above outlook of around €0m Properly financed with leverage ratio at 1.95x allows for €0.07 dividend per share (in € million) FY 2023 FY 2024 Adjusted net debt 92 31 Dec 2023 31 Dec 2024 Normalised EBIT 53 Short- and long-term debt 740 674 Depreciation & amortisation 177 188 L
Slide 11: Changing market dynamics in 2024
Changing market Remain your favourite dynamics in 2024 deliverer E-commerce market Parcels - committed to further investments and innovation • Evolving consumer behaviour results in accelerating client • Initiate dialogue on fairer distribution of value in sector as a concentration and growing unbal
Slide 12: 2. Strategy
2. Strategy
Slide 13: Our strategy
Our strategy Delivering distinctive customer and consumer experience to be the leading logistics and postal service provider in, to and from the Benelux region Strategic foundation Strategic objectives Be your favourite deliverer Customer value Parcels: Manage for sustainable growth • Help customers
Slide 14: Strategy - Parcels
Strategy - Parcels
Slide 15: Confidence in growth potential e-commerce market
Parcels Confidence in growth potential e-commerce market Fundamental drivers of e-commerce market • Growth trajectory retail market Dutch retail market* depending on economic conditions in €bn CAGR 2024-28: 3.2% 2023 2024 2025 2026 2027 2028 • Potential for further online penetration in Online penet
Slide 16: Strengthen our position as your favourite deliverer
Strengthen our position as your favourite deliverer As leading player in sector, we aim to support sustainable e-commerce growth Market challenges and opportunities Balanced strategic investments in 2025 to create value going forward • Evolving consumer behaviour and client concentration Enhance Cap
Slide 17: Strategic investments in 2025
Strategic investments in 2025 Create value going forward Enhance customer value Capture international growth Accelerate Out-of-Home strategy Improve balance volume and value Expansion of asset-light European Take momentum for further network investments • Tailored propositions to specific segments t
Slide 18: Investing in environmental and social value
Investing in environmental and social value Ambitious path towards net-zero in 2040 • Increase electric fleet utilisation through improved fast-charging efficiency • Support delivery partners in growing their electric fleet and charging infrastructure • Expand HVO100 fuel use for large trucks and la
Slide 19: Strategy – Mail in the Netherlands
Strategy – Mail in the Netherlands
Slide 20: Current business model of postal services unsustainable
Current business model of postal services unsustainable Cost savings and price increases cannot cover structural volume decline and costs increases Fast deterioration in result Measures taken, while awaiting Future-proof postal service Mail in the Netherlands* parliamentary decision • Large step-dow
Slide 21: Financial projections show need for transformation
Financial projections show need for transformation Application for financial contribution while awaiting adjustment postal regulation Projected normalised EBIT Mail in the Netherlands* Financially viable postal service in €m Cover cost of • Urgent need to reform USO obligations: capital • standard d
Slide 22: 3. Outlook
3. Outlook
Slide 23: Value drivers and main assumptions for 2025
Value drivers and main assumptions for 2025 Including impact of strategic initiatives Main assumptions (in € million) General • Organic cost increases of ~€125m (~75% labour-related), to be Normalised EBIT FY 2024 53 fully absorbed by price adjustments Assumed development Parcels Parcels • Total vol
Slide 24: Outlook 2025
Outlook 2025 Balanced strategic decisions to safeguard longer-term perspectives for stakeholders (in € million) 2024 2025 outlook Intention to pay dividend over 2025 Normalised EBIT 53 in line with 2024 • Outlook normalised EBIT in line with 2024, following balanced strategic decisions • Hold on to
Slide 25: Presentation Audit Committee
Presentation Audit Committee Presentatie Audit Committee 25
Slide 26: Presentation KPMG
Presentation KPMG Presentatie KPMG 26
Slide 27: AGM PostNL April 2025
AGM Presentation PostNL 14 April 2025
Slide 28: Our audit process
Our audit process 01. Our reports 02. Materiality Financial statements e ports 02 Materiality of EUR 17 million r • Auditor’s report on consolidated and parent Our .M • 0.5% of 2024 benchmark revenues company financial statements . • at Misstatements in excess of EUR 0.8 million are 01 er • Our opin
Slide 29: Audit observations
Audit observations Key audit matters Going concern • Revenue related accruals (terminal dues and deferred stamps) • No risk of going concern identified • Valuation of goodwill of the Mail in the Netherlands CGU • Claim provision quality of postal delivery Fraud risks and approach CSRD engagement • F
Slide 30: Q&A
Q&A
Slide 31: Agenda items 2b and 2c
Agenda item 2b Board report 2024 Bestuursverslag 2024 Agenda item 2c Discussion of the corporate governance chapter in the Board report 2024 Bespreking van het corporate governance hoofdstuk in het bestuursverslag 2024 31
Slide 32: Agenda item 2d: Advisory vote on remuneration report
Agenda item 2d Advisory vote in relation to the remuneration report for the financial year 2024 (Resolution) Adviserende stemming ten aanzien van het bezoldigingsverslag over het boekjaar 2024 (Besluit) 32
Slide 33: Remuneration report 2024
Remuneration report 2024 Remuneration report 2024 • Pages 142-154 of the Annual Report 2024 • Actual Board of Management remuneration 2024: page 147 • Implementation in line with new (in 2024 approved) remuneration policies Board of Management and Supervisory Board • Key remuneration outcomes Boar
Slide 34: Agenda item 3: Adoption of 2024 financial statements
Agenda item 3 Adoption of the 2024 financial statements (Resolution) Vaststelling van de jaarrekening over het boekjaar 2024 (Besluit) 34
Slide 35: Agenda item 4: Dividend
Agenda item 4 Dividend Dividend 35
Slide 36: Agenda item 4a: Dividend policy
Agenda item 4a Dividend policy Dividendbeleid 36
Slide 37: Agenda item 4b: Appropriation of profit
Agenda item 4b Appropriation of profit (Resolution) Winstbestemming (Besluit) 37
Slide 38: Agenda item 5: Release from liability
Agenda item 5 Release from liability Kwijting 38
Slide 39: Agenda item 5a: Release of Board of Management
Agenda item 5a Release from liability of the members of the Board of Management (Resolution) Het verlenen van kwijting aan de leden van de Raad van Bestuur (Besluit) 39
Slide 40: Agenda item 5b: Release of Supervisory Board
Agenda item 5b Release from liability of the members of the Supervisory Board (Resolution) Het verlenen van kwijting aan de leden van de Raad van Commissarissen (Besluit) 40
Slide 41: Agenda item 6: Composition of the Supervisory Board
Agenda item 6 Composition of the Supervisory Board Samenstelling van de Raad van Commissarissen 41
Slide 42: Agenda item 6a: Vacancies in the Supervisory Board
Agenda item 6a Announcement of vacancies in the Supervisory Board Kennisgeving van vacatures in de Raad van Commissarissen 42
Slide 43: Agenda items 6b and 6c
Agenda item 6b Opportunity for the General Meeting to make recommendations for the appointment of members of the Supervisory Board Gelegenheid tot het doen van aanbevelingen door de Algemene Vergadering voor de (her)benoeming van leden van de Raad van Commissarissen Agenda item 6c Announcement by th
Slide 44: Agenda item 6d: Reappoint Koos Timmermans
Agenda item 6d Proposal to reappoint Koos Timmermans as member of the Supervisory Board (Resolution) Voorstel tot herbenoeming van Koos Timmermans (Besluit) 44
Slide 45: Agenda item 6e: Reappoint Nienke Meijer
Agenda item 6e Proposal to reappoint Nienke Meijer as member of the Supervisory Board (Resolution) Voorstel tot herbenoeming van Nienke Meijer (Besluit) 45
Slide 46: Agenda item 6f: Vacancies as per AGM 2026
Agenda item 6f Announcement of vacancies in the Supervisory Board as per the close of the Annual General Meeting of Shareholders in 2026 Mededeling van vacatures in de Raad van Commissarissen die na afloop van de Jaarlijkse Algemene Vergadering van Aandeelhouders in 2026 zullen ontstaan 46
Slide 47: Agenda item 7: Composition of the Board of Management
Agenda item 7 Composition of the Board of Management Samenstelling van de Raad van Bestuur 47
Slide 48: Agenda item 7a: Appoint Pim Berendsen as CEO
Agenda item 7a Appointment of Pim Berendsen as CEO and member of the Board of Management Benoeming van Pim Berendsen als CEO en lid van de Raad van Bestuur 48
Slide 49: Agenda item 7b: Appoint Linde Jansen as CFO
Agenda item 7b Appointment of Linde Jansen as CFO and member of the Board of Management Benoeming van Linde Jansen als CFO en lid van de Raad van Bestuur 49
Slide 50: Agenda item 8: Appoint KPMG for sustainability assurance
Agenda item 8 Proposal to appoint KPMG Accountants NV to issue the assurance opinion on the sustainability report of the company for the financial years 2025 and 2026 (Resolution) Voorstel tot verlenen van opdracht aan KMPG Accountants NV voor het afgeven van de assuranceverklaring over het duurzaam
Slide 51: Agenda item 9: Designation of the Board of Management
Agenda item 9 Designation of the Board of Management Machtiging van de Raad van Bestuur 51
Slide 52: Agenda items 9a, 9b and 9c
Agenda item 9a Designation of the Board of Management as authorised body to issue ordinary shares (Resolution) Aanwijzing van de Raad van Bestuur als bevoegd orgaan tot het uitgeven van gewone aandelen (Besluit) Agenda item 9b Designation of the Board of Management as authorised body to limit or exc
Slide 53: Agenda item 10: Questions
Agenda item 10 Questions Rondvraag 53
Slide 54: Agenda item 11: Close
Agenda item 11 Close Sluiting 54
Slide 55: Voting results: items 2d, 3 and 4b
Agendaitem 2.d. Advisory vote in relation to the remuneration report for the financial year 2024 Agendaitem 3. Adoption of the 2024 financial statements Agendaitem 4.b. Appropriation of profit For 187,622,017 97.87% 192,722,214 99.96% 192,983,668 99.94% Against 4,090,530 2.13% 79,017 0.04% 114,374 0
Slide 56: Voting results: items 5a and 5b
Agendaitem 5.a. Release from liability of the members of the Board of Management Agendaitem 5.b. Release from liability of the members of the Supervisory Board For 192,748, 208 99.93% 189,593,917 98.29% Against 141,020 0.07% 3,295,422 1.71% Abstain 342,172 342,061
Slide 57: Voting results: items 6d, 6e and 8
For Agendaitem 6.d. 186,211,722 Proposal to reappoint Koos Timmermans as 96.43% member of the Supervisory Board Agendaitem 6.e. 187,773,610 Proposal to reappoint Nienke Meijer as member of 97.24% the Supervisory Board Agendaitem 8. 193,016,594 "Proposal to appoint KPMG Accountants NV to 99.95% issue
Slide 58: Voting results: items 9a, 9b and 9c
For Agendaitem 9.a. 191,493,526 "Designation of the Board of Management 99.19% as authorised body to issue ordinary shares" Agendaitem 9.b. 191,452,166 "Designation of the Board of Management as 99.17% authorised body to limit or exclude the pre-emptive right upon the issue of ordinary shares" Agend