TNT Express B.V.
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Publicatie datum
30 jul 2012 - 07:46
Statutaire naam
TNT Express B.V.
Titel
2Q12 results: Economic slowdown puts pressure on European performance; Asia Pacific and Brazil improve
Bericht
Hoofddorp, The Netherlands, 30 July 2012
- Reported revenues €1,830m (+1.7%); adjusted revenues (at constant FX) €1,767m (-1.8%)
- Reported operating income €77m (+67.4%); adjusted operating income (at constant FX and excluding one-offs) €69m (-6.8%)
- Net cash from operating activities €39m, net cash used in investing activities €10m; net debt €(6)m (1Q12: €36m net debt)
- €50m indirect cost savings programme to be fully implemented by year end
- Europe & MEA additional fixed-cost savings being pursued; timing of implementation temporarily adjusted in light of UPS Offer
- UPS Offer expected to complete in 4Q12, following further European Commission review
Despite demanding economic conditions in Europe & MEA, volume growth was good. However customers increasingly opted for non-premium products. The resulting negative product mix plus general price pressure were mitigated by cost-control initiatives.
In Asia Pacific, operating income improved even though international volumes declined. All units performed better, in particular Australia, China Domestic (Hoau) and India.
Americas saw an improved performance from Brazil, though challenges remain.
Other Networks results’ were ahead of the prior year’s. Non-allocated costs continue to be contained.
Commenting on this quarter’s developments, Marie-Christine Lombard, CEO said:
‘Despite an increasingly challenging economic environment, TNT Express was able to sustain profitability. In Europe, good volume growth underscores the strength of our diversified product portfolio. Cost savings and revenue-enhancement initiatives also supported profits. Performance in Asia Pacific and Americas continued to improve as a result of business development and restructuring measures.
The UPS Offer was formally launched in June. Earlier this month, UPS and TNT Express announced that the European Commission’s assessment of the transaction would move to a phase II review as certain areas require more time to analyse. We expect to co
Datum laatste update: 29 december 2025