TNT Express N.V.
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Publicatie datum
02 mei 2012 - 07:50
Statutaire naam
TNT Express N.V.
Titel
1Q12 results: Subdued European performance, Asia Pacific and Brazil improve
Bericht
Hoofddorp, 2 May 2012
- Timetable for completion of proposed UPS offer proceeding as previously indicated
- Reported revenues €1,819m (+1.3%); adjusted revenues (at constant FX) €1,780m (-0.9%)
- Reported operating income €37m (1Q11: €(79)m); adjusted operating income (at constant FX and excluding one-offs) €34m (1Q11: €50m)
- Net cash from operating activities €(2)m, net cash used in investing activities €13m and net debt €36m (4Q11: €7m net debt)
- Indirect cost savings programme launched in May 2011 on track
- Timing of implementation of certain long-term projects that are part of 2012-2013 fixed-cost savings programme temporarily adjusted in light of the proposed UPS offer
In 1Q12, TNT Express experienced mixed economic conditions in Europe and slowing Asia-Europe trading volumes. Europe & MEA was affected by negative price and product mix developments. Results in Asia-Pacific, while under pressure because of weakness out of Asia, benefited from the strong performance of the Australian operations and cost reductions. China Domestic performed according to plan. Americas saw improved performance from Brazil. Non-allocated costs were lower.
Commenting on the results, Marie-Christine Lombard, CEO said:
‘As announced at the beginning of the year, the first quarter of 2012 has been challenging, given the ongoing sluggish business environment. In Europe, cost savings and commercial initiatives are being pursued to mitigate revenue pressure. Profitability in Asia-Pacific improved, despite weak intercontinental demand. Americas also improved, with better results in Brazil. In parallel, we are supporting progress towards completion of the proposed offer by UPS. We anticipate discussing the proposed offer with our shareholders during an Extraordinary Shareholders Meeting to be held in 3Q12.’
Datum laatste update: 27 juli 2024