TNT Express B.V.
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Publicatie datum
31 okt 2011 - 07:46
Statutaire naam
TNT Express B.V.
Titel
3Q11 results: Europe resilient, focus on recovering profitability Asia-Pacific and Americas
Bericht
Hoofddorp, 31 October 2011
- Reported revenues €1,777m (+1.3%); adjusted revenues (at constant FX) €1,788m (+1.9%)
- Reported operating income €32m (-13.5%); adjusted operating income (at constant FX and excluding one-offs) €43m (-46.9%)
- Brazil operational KPIs continue to improve; strong pipeline but revenue not yet sufficient to cover past loss of major customers
- Deadlines reiterated: 2H12 for Brazil turnaround and 2013 for profitability China domestic
- Net cash from operating activities €33m and net cash used in investing activities €26m
- Net debt €104m (2Q11: €107m)
- First phase of €50m indirect cost savings successfully implemented; approximately €20m annualised savings to be realised in 2011, with €11m of associated costs in 3Q11 (€28m year to date)
- Additional operational cost savings and improvement measures, including significant flexibilisation of Asia-Europe capacity, currently being identified
The 3Q11 revenue development reflects the combination of muted growth in EMEA, continuing growth in Asia Pacific and lower revenues in Americas (Brazil). Year on year, operating income was down mostly because of larger losses in Americas (Brazil) and in Asia-Pacific. Non-allocated was positive as a result of lower overhead and project-related costs, charge out to business units and beneficial phasing of certain costs.
Commenting on the results, Marie-Christine Lombard, CEO said:
‘During the quarter, the performance in our European home market was resilient, benefiting from our broad product portfolio, customer focus and cost control. Our €50m indirect cost savings programme is proceeding to plan, with a significant share of the initiatives now implemented. Further operational improvements are being identified to secure profitability in an uncertain economic environment, such as reducing network costs and increasing the flexibility of our Asia-Europe capacity. Meanwhile, we are taking all measures to ensure our emerging platforms meet near-term
Datum laatste update: 24 februari 2026