PostNL N.V.
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Publicatie datum
27 jul 2009 - 07:53
Statutaire naam
PostNL N.V.
Titel
Focus on costs and cash pays off
Bericht
Amsterdam, 27 July 2009
Group
• Recessionary business environment persists in Q2
• Strong cash flow resulting from ongoing focus on working capital and tax
• Interim 2009 dividend of € 0.18 per share, at choice of shareholder in cash or stock
Express
• Volume decline stable throughout Q2
• Strong cost savings performance at € 135 million, full year target increased
• Underlying operating income of € 89 million (€ 153 million in Q2 2008)
• Reported operating income at € 29 million due to one-offs, Easter and foreign exchange impact
Mail
• Revenue in line with last year
• Addressed mail volume decline in the Netherlands 6%, excluding various one-off mailings
• Operating income of € 150 million (€ 173 million in Q2 2008)
CEO Peter Bakker comments: “The trading environment continued to be tough this quarter. In response, TNT’s management teams have once again significantly reduced costs without jeopardising our service levels. The underlying performance in our businesses clearly improved over Q1 this year. Our focus on cash has resulted in a strong free cash flow over the first six months this year. Our announcement today of a € 0.18 dividend per share, optional in cash or shares, is a sign of confidence in our operational performance.
Through the quarter, the rate of decline of Express volumes has been stable, with a small upturn in the last weeks of June. The decline of Express volumes seems to be bottoming out. The excellent implementation of cost savings measures has allowed us to increase our savings target for the full year. In the summer period, however, there remains the possibility of longer holiday stops in production lines of our customers, which may impact volumes.
In Mail, the operating result was impacted by lower volumes, higher costs of pensions and one-off costs in EMN. After the union members had voted down the CLA agreement for TNT Post in the Netherlands, we have launched significant restructuring plans. We continue, however, to aim to dev
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Datum laatste update: 02 september 2024