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TNT Express B.V.

TNT Express B.V.

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Publicatie datum 28 apr 2015 - 07:00
Statutaire naam TNT Express B.V.
Titel TNT reports first quarter results
Bericht • Comparable revenue growth (adjusted for disposals and foreign exchange) -1.5% • Underlying revenue growth (adjusted for the above, plus trading day effect and lower fuel surcharge) +2.1% • Operating income affected by Outlook strategy’s execution costs of €20 million • Capex investments increased to €78 million (1Q14: €26 million) • Service performance and revenues from SMEs further improved Amsterdam, The Netherlands, 28 April 2015 – TNT today reported first-quarter revenues of €1,622 million, up 1.3% year-on-year, and an operating loss of €11 million. Adjusted for disposals and foreign exchange, TNT’s revenues declined 1.5%. The drop in fuel surcharges and a trading day effect lowered first-quarter revenues by 2.1% and 1.5%, respectively. The underlying revenue growth, after correcting for all these factors, was 2.1%. Reported operating income includes €12 million of restructuring and other charges, in line with guidance. Adjusted operating income decreased to €1 million, reflecting costs related to the execution of the Outlook strategy (€20 million), lower volumes from international accounts and pricing pressures, particularly in Western Europe. Investments increased to €78 million (4.8% of revenues) in the first quarter, compared with €26 million (1.6% of revenues) the year before. Most capital expenditures went to sorting equipment, hubs, depots, vehicles and IT. Service performance, measured by on time delivery, continued to improve in all segments.