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PostNL N.V.

PostNL N.V.

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Publicatie datum 16 feb 2009 - 07:48
Statutaire naam PostNL N.V.
Titel Pressure on Express volumes in an increasingly recessionary environment
Bericht Amsterdam, 16 February 2009 Q4 2008 development • Express underlying* operating income at € 94 million in line with outlook update given on 4 December 2008 – Express volume trend overall clearly negative through quarter • Network optimisation initiatives in Express well underway; charges booked – restructuring of € 33 million and impairments of € 37 million • Mail strong fourth quarter helped by two extra working days • € 82 million provision charged in Mail regarding Postkantoren restructuring 2008: a year of two halves • Sharp global economic decline in second half 2008, continuing into 2009 • A stable first-half performance was followed by a significantly weaker second half due to sharp International Express volume decline • Group underlying* revenues up 4.0% to € 11.5 billion • Underlying* operating income down 12.8% due mainly to lower results in Express • Net underlying* profit from continuing operations € 720 million, down 18.6% • Strong net cash from operating activities of € 923 million Dividend • Proforma pay-out ratio at the same level as 2007 in view of current economic and financial circumstances • Total proforma proposed distribution to shareholders of € 0.71 per share o € 0.34 already paid by way of interim dividend, in cash o one bonus share for every 40 shares held at ex-dividend date (valued at € 0.37 based on last 3 days’ volume weighted average prices) Outlook 2009 Due to the highly uncertain macro-economic and business environment, instead of giving an outlook for 2009 on revenue growth and operating margin, TNT will provide certain indications only • Express: revenues expected to decline due to volume declines and lower fuel surcharge • Mail: as previously guided, addressed volumes in the Netherlands expected to show an increasing rate of decline • Additional pension P&L charge: € 40 million compared to 2008; mainly Mail • Approximately € 400 million total cost savings targets pursued CEO Peter Bakker comments: “The extremely tough tra

Datum laatste update: 23 juli 2024