TNT N.V. publish 2008 first quarter results
The quarter, revenues and results are negatively impacted by the anticipated phasing impact of week 1 and Easter in Express and Mail. The impact is a decrease of around EUR 70 million in revenue, and around EUR 40 million in operating income compared to Q1 2007.
TNT’s outlook for 2008 is based at constant average 2007 foreign exchange rates versus the Euro. The decrease of revenues resulting from FX rate differences versus the euro in the first quarter was around EUR 65 million, with limited
impact on operating income.
Additionally, a first EUR 7 million impairment charge out of the approximately EUR 70 million Postkantoren restructuring costs previously announced, has been taken.
The underlying development of the business, taking into account above factors, will therefore be the focus of the summary analysis below.
Group
• Results versus Q1 2007 show expected impact of week 1, working days and Easter phasing
• Underlying business growth develops in line with Q4 2007 as expected
Express
Adjusted for impact week 1 and Easter:
• Core volume growth in line with Q4 2007, up 3.3 pct; yield 5.1 pct
• Operational revenue growth 10.4 pct
• Emerging platforms operational revenue growth well above 20 pct
• Operating margin in line with Q1 last year, at 8.2 pct
Mail
Adjusted for impact working days and EUR 7 million restructuring costs:
• Operational revenues 1.4 pct above last year’s level
• Emerging Mail & Parcels operational revenue growth over 15 pct
• EBIT at EUR 209 million (Q1 2007: EUR 231 million); decrease due to EUR 12 million higher net one-offs in Q1 2007 and autonomous volume reduction
The quarter, revenues and results are negatively impacted by the anticipated phasing impact of week 1 and Easter in Express and Mail. The impact is a decrease of around EUR 70 million in revenue, and around EUR 40 million in operating income compared to Q1 2007.
TNT’s outlook for 2008 is based at constant average 2007 foreign exchange rates versus the Euro. The decrease of revenues resulting from FX rate differences versus the euro in the first quarter was around EUR 65 million, with limited
impact on operating income.
Additionally, a first EUR 7 million impairment charge out of the approximately EUR 70 million Postkantoren restructuring costs previously announced, has been taken.
The underlying development of the business, taking into account above factors, will therefore be the focus of the summary analysis below.
Group
• Results versus Q1 2007 show expected impact of week 1, working days and Easter phasing
• Underlying business growth develops in line with Q4 2007 as expected
Express
Adjusted for impact week 1 and Easter:
• Core volume growth in line with Q4 2007, up 3.3 pct; yield 5.1 pct
• Operational revenue growth 10.4 pct
• Emerging platforms operational revenue growth well above 20 pct
• Operating margin in line with Q1 last year, at 8.2 pct
Mail
Adjusted for impact working days and EUR 7 million restructuring costs:
• Operational revenues 1.4 pct above last year’s level
• Emerging Mail & Parcels operational revenue growth over 15 pct
• EBIT at EUR 209 million (Q1 2007: EUR 231 million); decrease due to EUR 12 million higher net one-offs in Q1 2007 and autonomous volume reduction
