PostNL cut its annual dividend by 43% to €0.04 per share for FY2025 as the Dutch postal group reported free cash flow swung to a €25 million loss despite a 2.2% revenue increase to €3.32 billion. The company warned cash burn could continue into 2026, with free cash flow projected between zero and negative €30 million. CEO Pim Berendsen noted an unresolved funding gap for universal service obligations.

Interest expenses jumped to €47 million from €31 million, pushing adjusted net debt to €501 million as long-term borrowings rose to €696 million. Cash reserves increased to €515 million but were funded by borrowing rather than operating performance. Normalized EBIT held flat at €53 million despite revenue growth, as cost pressures of approximately €140 million consumed pricing gains.

The Mail Netherlands segment remained challenged with volumes falling to 1.529 billion items, facing an 8-10% further decline in 2026. PostNL guided 2026 normalized EBIT between €40-70 million with 5-7% revenue growth, while continuing legal proceedings over unresolved funding for universal service obligations estimated at €30 million for 2025. The Parcels segment saw normalized EBIT of €61 million, down from €65 million, despite revenue growth.