TNT announces Q3 2005 results
Revenues increase 9%. Earnings per share 5% higher
Strategic partnership with Japan Post
Highlights:
Operating income up 37% in Express, due to revenue growth and efficiency
Growth in Mail revenues driven by 34% increase in European Mail Networks
Mail margin remains high, despite higher pension costs
Margins under pressure in Logistics
Strategic partnership with Japan Post announced
China development gains momentum
CEO Peter Bakker:
“I continue to be pleased with the good progress of Express, which hit another record third quarter margin. Mail delivered as expected with solid execution of the masterplans, which have now brought us almost € 200 million of cumulative savings, and European Mail Networks achieved a revenue growth of 34% this quarter. In Logistics, we moved ahead with the refocusing of our French operations, and have received offers for large parts of this business. In the rest of Logistics, partly resulting from an unexpected law change in Italy, margin pressure remained, although we did see some positive signs in business development.
Looking to the future, I am delighted that we have started to work with Japan Post on a joint strategic vision. Our next step will be to launch a new international premium express product. We gained more traction with our China strategy, with the launch of new domestic express operations and the announcement of two 747 air freighters to the fleet, to fly between Shanghai and Europe.”
P:LibraryTPGTNT_2005_Q3_press_release-eng.pdf
