5 Five-year financial performance
All numbers presented in this appendix are the reported numbers in the respective Annual Reports of 2021 until 2025, unless restated in a later year. Revenues and normalised EBIT have been restated for adjusted segment reporting relating to the transfer of PostNL Real Estate from Mail in the Netherlands to Parcels in 2025.
PostNL Five-year performance in € million, unless indicated otherwise
| 2021 | 2022 | 2023 | 2024 | 2025 | ||
|---|---|---|---|---|---|---|
Revenue | ||||||
Parcels | 2,386 | 2,190 | 2,284 | 2,393 | 2,457 | |
Mail in the Netherlands | 1,657 | 1,470 | 1,348 | 1,313 | 1,315 | |
PostNL Other/Eliminations | (576) | (515) | (466) | (454) | (448) | |
PostNL | 3,466 | 3,144 | 3,165 | 3,252 | 3,324 | |
Normalised EBIT | ||||||
Parcels | 251 | 77 | 69 | 65 | 61 | |
Mail in the Netherlands | 139 | 87 | 28 | 3 | 2 | |
PostNL Other | (81) | (80) | (5) | (16) | (10) | |
PostNL | 308 | 84 | 92 | 53 | 53 | |
Normalised EBIT margin | ||||||
Parcels | 10.5% | 3.5% | 3.0% | 2.7% | 2.5% | |
Mail in the Netherlands | 8.4% | 5.9% | 2.1% | 0.2% | 0.2% | |
PostNL | 8.9% | 2.7% | 2.9% | 1.6% | 1.6% | |
Operating income | 324 | (1,291) | 84 | 37 | 11 | |
Profit for the year | 258 | (993) | 56 | 18 | (17) | |
Profit for the year (2022 adjusted)1 | 258 | 14 | 56 | 18 | (17) | |
Normalised comprehensive income | 285 | 90 | 52 | 38 | 21 | |
Free cash flow | 288 | 40 | 52 | 12 | (25) | |
Adjusted net debt | (203) | (467) | (462) | (474) | (501) | |
Consolidated equity | 426 | 177 | 198 | 202 | 176 | |
Earnings per share (in € cents) | 50.9 | 2.8 | 11.3 | 3.4 | (3.2) | |
Leverage ratio (adjusted net debt/EBITDA) | 0.44 | 1.92 | 1.70 | 1.95 | 1.99 | |
Return on invested capital | 16.4% | 4.1% | 5.3% | 3.4% | 4.7% | |
| 1 | 2022 excluding change in pension accounting classification | |||||