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Press release The Hague , the Netherlands , 8 November 2021 PostNL reports normalised EBIT of € 23 million for Q3 2021 FY 2021 outlook confirmed Financial highlights in € million Revenue Normalised EBIT assumed to be non - recurring and related to Covid - 19 Free cash flow Normalised comprehensive income . ● Q3 2020 742 36 2 5 28 Q3 2021 729 23 5 10 27 YTD 2020 2,232 105 30 103 92 Highlights Q3 2021 : Performance impacted by adjusted VAT regulation and Covid - 19 Volume growth of 1.6 % at Parcels compared with Q3 2020 ; 6.4 % when excluding the assumed non - recurring impact related to Covid - 19 and around 19 % growth compared with pre - Covid - 19 Q3 2019 Volume growth of 0.5 % at Mail in the Netherlands , supported by non - recurring items related to Covid - 19 and an improvement in the underlying substitution rate Stronger than expected , partly temporary , impact from change in VAT regulation for small non - EU goods and other regulation in China , visible both at Parcels and Mail in the Netherlands ( total impact on normalised EBIT : € ( 8 ) million ) Strong cash flow performance continues Outlook for FY 2021 confirmed postnl YTD 2021 2,530 216 74 223 196 PostNL Q3 2021 Results | Page 1 Normalised EBIT between € 280 million and € 310 million ( including assumed non - recurring impact of around € 75 million ) , with free cash flow between € 250 million and € 280 million CEO statement Herna Verhagen , CEO of PostNL , said : " In the third quarter of the year , the changes in VAT for small goods outside the EU and other regulation in China had a stronger temporary negative impact on international volumes than anticipated , and put pressure on the performance of both Parcels and Mail in the Netherlands . " After operating in an environment dominated by the pandemic since early 2020 , in the third quarter we seemed to be returning to more normal conditions . Volume at Parcels continued to grow . As expected , this growth was slower due to the reopening of non - essential stores and more people going on holiday , as well as some headwind from disruptions in global supply chains . Volume development at Mail in the Netherlands was positive , reflecting both Covid - 19 and some improvement in the underlying substitution rate . We saw declining international volumes in both segments . " We're rebalancing our parcels ' network and , as usual during Q3 , have started preparations for the end - of - year peak season . We have deliberately built up extra capacity and resources so as to be able to offer our customers the necessary sorting and delivery capacity and high quality service . In a quarter that includes the summer holiday , this had an impact on margins . This is expected to reverse in Q4 , when parcel volumes are expected to come in at significantly higher levels . " We are continuing to deliver on our strategy , including our commitment to sustainability and digital transformation . Early October , PostNL opened its fully automated , robotic sorting centre for small parcels . This innovative sorting centre , equipped with diverse robots , is unique in Europe and creates more capacity in our regular parcel sorting centres . " Building on our solid performance in 2021 so far , we confirm our outlook for FY 2021 of normalised EBIT between € 280 million and € 310 million and strong free cash flow between € 250 million and € 280 million . The trend in e commerce growth is expected to continue , with some uncertainty related to Covid - 19 and the changes in VAT regulation . "