External developments, strategy and outlook

We expect 2024 to be another year where consumer confidence remains fragile and parcel volumes changeable, and foresee the market circumstances we witnessed in 2023 continuing. Our expectations on consumer spending and internet penetration remain modest, which we believe will directly impact e-commerce volume growth. At the same time, inflation levels are expected to remain high.

Our focus in 2024 will be on taking measures to improve our short- and long-term financial performance. For our people, we will continue to target motivation and engagement, while aiming to lower the level of sick leave. We will also intensify our efforts to attract and retain motivated people, by providing a safe and inspiring work environment.

With our strategy geared toward capturing growth in e-commerce, we are dedicated to significantly improving margins in our Parcels business over time. And we will make necessary changes in our Mail in the Netherlands business to manage it for value.

Below we outline some of the strategic steps we will take in 2024, the 225th anniversary of when we began proudly providing a critical service to society by connecting senders and receivers, whether individuals or businesses.