EU Taxonomy KPIs

For 2023, PostNL reported on the KPIs' total operating revenue (turnover), capital expenditures and operating expenditures. The mandatory tables with the amounts which are in scope and the percentage of eligibility and alignment per KPI of the EU Taxonomy activities PostNL has recognised can be found in the chapter 21 EU Taxonomy Statement.

The alignment with relevant financial statement line items is the starting point of our Taxonomy allocation methodology. The reported figures have been determined based on the allocation of activities to the Taxonomy, derived bottom-up for all PostNL reporting units. The figures are based on the actual amounts represented in the general ledger accounts as included in PostNL's consolidated financial statements. In addition, the split between transport by road and air in our international business is based on expected transport modes between countries for our trade lanes.

Turnover

This KPI covers the external revenue recognised in line with IAS 1 par. 82(a) and therefore reconciles to the 'Total operating revenue' as included in the consolidated income statement. To determine which part of the net turnover was earned by Taxonomy-eligible activities per revenue-generating activity, PostNL assessed to which extent this activity is included in the EU Taxonomy. The turnover considered to be eligible under the EU Taxonomy almost entirely consists of revenue streams primarily related to collecting, sorting and delivering parcel and mail items. Therefore, the eligible and aligned turnover under the EU Taxonomy is entirely related to these logistic activities. The non-eligible revenue under EU Taxonomy consist of revenue related to the transportation of mail and parcels by air, service provider activities, and the organisation of logistic activities. The allocation of revenue over the different EU Taxonomy economic activities is based on the relative operational costs of the individual activities. For the full table regarding the turnover, see chapter 21 EU Taxonomy Statement.

The EU taxonomy aligned turnover 2023 is in line with prior years.

Capital expenditures

This KPI covers the additions to Property, plant and equipment under IAS16, Intangible assets under IAS38, as well as additions (including reassessments) to Right-of-use assets under IFRS 16 (see notes 3.2-3.4 to the Consolidated financial statements for more information).

From the total capital expenditures, it is assessed which portion is Taxonomy eligible by assessing per asset category to which economic activity this asset category relates and to what extent this activity is included in the EU Taxonomy. The capital expenditures that are considered to be eligible under the EU Taxonomy include transport, infrastructure for transshipments (sorting activities) and real estate activities. The non-eligible capex under EU Taxonomy mainly relate to software and other equipment. The aligned capex for activity CCM 6.4 (Operation of personal mobility devices, cycle logistics) of €2 million relates entirely to Property, plant and equipment (PPE). The breakdown of the aligned capex for activity CCM 6.15 (Infrastructure enabling low-carbon road transport and public transport) shows expenditures for PPE of €80 million and for RoU assets of €15 million. For the full table regarding the capex, see chapter 21 EU Taxonomy Statement.

Operating expenditures

For operating expenses (opex), where the operational expenditure is not material for the business model, the EU Taxonomy allows for an exemption (Article 8 Delegated Act Annex I section 1.1.3.2). PostNL is a people driven and asset-light company. The denominator of the total opex in scope for the EU Taxonomy amounts to €59 million, which represents around 2% of PostNL's total €3,087 million operating expenses in 2023. As PostNL applies a materiality threshold of 5%, the relative share of opex in scope of the EU Taxonomy compared to the total operating expenditures of PostNL is deemed not material for PostNL's business model. As a consequence, the amount of eligible opex is exempted from the calculation of the numerator of the opex KPI for the EU Taxonomy and is therefore reported as being equal to zero. For the full table regarding the opex, see chapter 21 EU Taxonomy Statement.

Looking forward to 2024

The current technical screening criteria provide little room for postal operators for making progress in alignment. Detailed analysis and discussions within a working group facilitated by PostEurop shows that meeting certain DNSH criteria is practically and economically unfeasible. Therefore, PostEurop submitted a proposal for postal-specific economic activities and screening criteria to the European Commission via a stakeholder progress on behalf of its members, including PostNL. The aim of this proposal is to set criteria which are suitable in the context of postal business models. Through sector-specific criteria, postal operators in Europe can make meaningful investments in sustainable activities that fit within their business models while at the same time allowing postal companies to achieve higher alignment in its EU Taxonomy reporting.