Media,
AMSTERDAM (AFN) - Post- en pakketbezorgbedrijf TNT heeft in het tweede kwartaal naar verwachting flink geprofiteerd van het herstel van de economie. Het bedrijf zag zowel de opbrengsten van het expressvervoer als van de postbezorging aanzienlijk stijgen ten opzichte van dezelfde periode in het voorgaande jaar, zo voorspelden negen analisten voor ANP-Reuters.

De analisten verwachten dat de totale omzet van TNT in het afgelopen kwartaal ruim 8 procent hoger is uitgekomen dan een jaar geleden. Daar heeft het bedrijf volgens hen een nettowinst van 140 miljoen euro aan overgehouden. Dat is bijna drie kwart meer dan in het tweede kwartaal van 2009.

In het eerste kwartaal zag TNT de opbrengsten van het expressvervoer dankzij het herstel van de wereldhandel al met 9 procent stijgen. De onderliggende omzet van de postdivisie stabiliseerde in dat kwartaal. De analisten verwachten dat de groei bij express in het voorbije kwartaal nog verder is aangetrokken en voorzien nu ook een duidelijke groei van de opbrengsten bij de postdivisie.

Rendabel
TNT onderzoekt momenteel de mogelijkheden om het postbedrijf, ondanks de constante daling van het aantal poststukken dat moet worden bezorgd, in de toekomst rendabel te houden. Daarbij wordt onder meer gedacht aan een beursgang van het onderdeel of vergaande samenwerking met andere Europese postbedrijven. Om dit mogelijk te maken wordt de divisie dit jaar al losgesneden van de expresstak.

Voorstel, TNT interimdividend EUR 0,28 per aandeel

Het bedrijf kondigde eind juni aan de postdivie in de komende jaren in ieder geval om te vormen tot een deeltijdbedrijf. Full-time postbodes worden daarbij vervangen door postbezorgers, die in deeltijd werken. Daarnaast wil het bedrijf het aantal bezorgdagen terugbrengen van zes naar drie.

De grote Amerikaanse branchegenoten van TNT, UPS en FedEx, kwamen eerder deze maand al met zeer positieve berichten over het afgelopen kwartaal. Beide bedrijven zagen de volumes veel sterker stijgen dan verwacht en verhoogden hun verwachtingen voor de rest van het jaar.

Q2 2010

GROUP
- Operating income € 55 million (€ 178 million in Q2 2009), impacted by an initial € 168 million net Master plan III provision
- Underlying* operating income € 211 million (€ 201 million in Q2 2009)
- Profit attributable to shareholders € 3 million (€ 81 million in Q2 2009), impacted by significant one offs
- Cash, as expected, below prior year mainly due to phasing of taxes paid and changes in working capital
- Interim 2010 dividend of € 28 cents per share (€ 18 cents last year), which represents ~40% of normalised net income, at choice of shareholder in cash or stock

EXPRESS
- Underlying* revenues increase of € 150 million (+10.3%)
- Underlying* operating income € 73 million (€ 63 million in Q2 2009)
- Volumes back around 2007 levels (core kilos +9.5% versus Q2 2009)
- Yield (excl fuel surcharge) remains clearly negative both year on year and in comparison to 2007
- Additional focus on margin improvement through yield and cost management started

MAIL
- Underlying* revenues decline of € 28 million (-2.7%)
- Underlying* operating income € 136 million (€ 139 million in Q2 2009)
- Addressed mail volumes in the Netherlands declined by 8.4% (corrected for working days), Parcel volumes grew by more than 10%
- Final restructuring programme (Master plan III) announced

VISION 2015
- TNT announces its intention to separate fully its Mail and Express businesses
- Internal separation expected to be implemented 1 January 2011; capital market transaction separating the equity of Mail and Express to follow after further exploration
- Separation aims to position Mail and Express for long-term success, as two strategically coherent and financially strong businesses
- Full update at annual Analysts’ Meeting (2 December 2010)

SUMMARY OUTLOOK 2010
TNT sees a modest improvement in the European economy. However, given that the global economic recovery remains fragile, caution remains warranted. The focus on costs and cash will therefore continue.

In Express, volumes and revenues are expected to be well above 2009 levels, with operating margin improvement for the year clearly tempered by yield pressure and cost inflation offsetting some efficiency gains. Specific yield management and cost actions, once phased in, aim to improve the margins coming from the higher volumes.

In Mail, TNT expects addressed volume decline in the Netherlands of 7-9%, due to the first full-year effect of liberalisation combined with ongoing substitution. Master plan savings of € 75 million are targeted. Mail operating income is expected to be below 2009 levels, including the impact of higher P&L charges for pensions.

CEO Peter Bakker comments: ‘In Q2 2010, TNT experienced generally improving business conditions. Express volumes were up significantly and Mail performed well.

However, integration costs and certain temporary cost pressures in emerging markets and intercontinental linehaul, along with continuing yield pressure in our core markets, are holding back Express’ margin expansion. All of TNT’s Express management is focused on improving the yield and margin to reflect the now more positive volumes we are carrying.

Mail put in a good quarter, with pleasing developments in Emerging Mail & Parcels. Following announcements on the large-scale Master plan restructuring in Mail NL, we today announce provisions for mobility and social plan payments. While clearly painful to many of our Dutch Mail employees, the reality of structurally declining postal volumes and continuing low-wage competition has forced us to redesign how we run our business.

As announced earlier this year, we have explored the best structure to secure the continued success of our Express and Mail divisions. Based on this review, we have concluded that a full separation will best serve both units. On a standalone basis, Mail and Express will be able to operate as best-in-class in their respective industries, by building on strong management and a solid capital structure to successfully implement their strategies. Before full separation can be implemented, the Supervisory Board and Board of Management have more work to do, including the involvement of the works councils and approval requests to our shareholders.’


* The underlying figures are at constant currency and exclude the impact of working days and one-offs. In 2010 underlying operating income Express is € 31 million lower and Mail is € 144 million higher than reported. Restructuring related costs and one-offs are also taken into account for 2009, see table on page 4 of the attachment.

- ENDS

TNT appoints Bernard Bot as Chief Financial Officer (CFO)

Amsterdam, 2 August 2010 - Today, TNT N.V. announces that it has appointed Bernard Bot as Chief Financial Officer (CFO). TNT will notify his appointment as member of the Board of Management to the shareholders in the upcoming AGM in April 2011. The appointment follows the departure of CFO and member of the Board of Management Henk van Dalen who will leave the company following his appointment as CFO at VimpelCom LTD. Henk van Dalen will formally leave TNT at the end of September but his day-to-day involvement effectively ended on 1 August 2010.

In a reaction Chairman of the Supervisory Board Piet Klaver and CEO Peter Bakker stated: “It is regrettable that Henk van Dalen decided to leave TNT. Obviously, we respect his decision and congratulate him with the move to his new function. In his term as CFO of TNT, Henk has strengthened the finance functions within TNT, made substantial improvements in various finance areas, such as tax and cash management and clearly contributed to the strategic development of the group.”