PostNL N.V.
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Publicatie datum
02 aug 2010 - 07:48
Statutaire naam
PostNL N.V.
Titel
Q2 & HY 2010 Results
Bericht
Amsterdam, 02 August 2010
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 cont
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Datum laatste update: 05 februari 2025