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
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Datum laatste update: 09 juli 2025