In the face of a challenging macroeconomic environment, negative revenue growth at both Mail in the Netherlands and Parcels & Express resulted in a year-on-year decline in total revenue of almost 10%.
Driven by continued pandemic-led parcels volume growth, PostNL generated more than three fifths of revenue from e-commerce-related services in 2022, up from 44% in 2017. Total revenue, affected by lower parcel volumes and higher organic costs for the year, fell by 9%, contributing to lower profitability.
In support of the strategy of strengthening its position in key markets, PostNL acquired a majority stake in Dutch smart-living solutions provider 'De Innovatie Studio', at the cost of €2m.
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