TNT, Strong revenue growth of 10.5% - Operating income Express and Mail developed positively

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Overig advies 29/10/2007 08:12
29 October 2007, 08:00 CET - Amsterdam, TNT N.V. announced today the 2007 Q3 results.
Express
Strong volume and revenue growth versus very strong Q3 2006 comparatives
Earnings before depreciation and amortisation (EBITDA) € 190 million, up 11.1%
Operating margin excluding recent acquisitions consistently strong
Mail

Continued good revenue growth due to EMN expansion
First volume success of differentiating product offering in Mail Netherlands visible
Operating margin stable
Group

Net profit € 167 million
Outlook confirmed
Key numbers Q3 2007 € mil Q3 2006 € mil % Change
Revenues 2,648 2,397 10.5%
EBITDA 344 334 3.0%
Operating income (EBIT) 258 257 0.4%
Profit from continuing operations 166 169 -1.8%
Profit/(loss) from discontinued operations 0 (102)
Profit/(loss) attributable to the shareholders 167 67 149.3%
Cash generated from operating 273 313 -12.8%
Net cash from operating activities 146 198 -26.3%
Earnings from continuing operations per share (in € cents) 44.1 41.0 7.6%
Earnings per share (in € cents) 44.4 16.9 162.7%
Key numbers YTD Q3 2007 € mil YTD Q3 2006 € mil % Change
Revenues 8,013 7,293 9.9%
EBITDA 1,196 1,147 4.3%
Operating income (EBIT) 939 921 2.0%
Profit from continuing operations 633 592 6.9%
Profit/(loss) from discontinued operations 206 (111)
Profit/(loss) attributable to the shareholders 838 481 74.2%
Cash generated from operating 941 913 3.1%
Net cash from operating activities 523 633 -17.4%
Earnings from continuing operations per share (in € cents) 163.9 139.8 17.2%
Earnings per share (in € cents) 217.3 113.6 91.3%

CEO Peter Bakker:
“The development of our results is satisfactory, certainly compared to the very strong Q3 of last year. Both Express and Mail revenues showed good organic growth and we continued to invest in emerging businesses in Express and Mail.

In Express, the operating margin, excluding the planned start-up costs of our recent acquisitions is above last year’s. In Mail, EMN revenue continues to develop strongly, particularly in the UK and Germany, whilst in Mail Netherlands we saw the positive impact of our product differentiation strategy on volumes.

In The Netherlands, we are continuing discussions with the trade unions on the new masterplan initiatives. As a first step, the Mobility Agreement, which will be part of the overall collective labour agreement, has now been agreed between the unions and ourselves.

Finally, I am pleased that TNT ranks first in the Dow Jones Sustainability Index 2007 and that we achieved the highest score in the entire index.”



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