ROYAL MAIL plc - AGM TRADING STATEMENT:
"In the first five months of the year, we have seen a substantial shift in our business from letters to parcels.
...the mix shift from handling more parcels and fewer letters increased costs in the period by £85 million. In addition, costs related to COVID-19 ... were £75 million in the first five months.
Our management restructure will deliver a £130 million cost benefit from FY2021-22, and we are also targeting flat non-people costs in FY2021-22 vs. FY2019-20, excluding depreciation, through delivery of £200 million of savings.
These changes have also helped us to focus capital expenditure on delivering key projects and delivering them more quickly, whilst also reducing capex spend by around £250 million over the next two years."
Wirtschaftlich geht es für RM leider noch nicht in allen Bereichen in die richtige Richtung, denn obwohl GLS und Royal Mail ihre Parketumsätze und GLS seine Überschüsse deutlich ggü. den Vor-COVID-Prognosen steigern konnten, hat es bisher nicht den langfristigen Abwärtstrend der Royal Mail Profitabilität brechen können.
"We continue to expect Royal Mail to make a material loss this financial year 2020-21 and will not become profitable without substantial business change."