PostNL N.V.
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Publicatie datum
02 mei 2011 - 07:45
Statutaire naam
PostNL N.V.
Titel
Q1 2011 Results TNT NV
Bericht
MAIL BUSINESS
• Underlying revenues up 3.8% to € 1,107 million
• Underlying operating income € 120 million; underlying cash operating income € 76 million
• Good performance on net cash from operating activities
• Addressed mail volumes declined by 8.6%; revenues Mail in NL down 6.3%
• Parcels on track and International improving
• Clarity on new tariff regulation Universal Service Obligation
EXPRESS BUSINESS (DISCONTINUED OPERATIONS)
• Underlying revenues increased by 4.4% to € 1,759 million
• Underlying operating income € 49 million
• Express’ quarter as previously indicated in 8 April 2011 Business and Demerger Update. Immediate actions being taken on Brazil and €120 million non-cash impairment
• New annualised savings targeted at € 40 - 50 million
Note: The underlying figures are at constant currency and exclude items as detailed on pages 4 and 8 of the press release.
MAIL BUSINESS 2011
Mail expects addressed volume declines in 2011 in the Netherlands of 8 – 10% due to ongoing substitution and competition, in this second year after full liberalisation. Master plan savings of € 50 – 60 million are targeted for the year. Mail’s underlying cash operating income (defined as underlying operating income minus pension cash outflows and cash out for restructuring) is expected to be € 130 – 170 million. After separation, Mail’s dividend guidelines for the next few years will include a payout around 75% of underlying net cash income, with a minimum of € 150 million per annum. In addition, shareholders will be given the dividend that Mail receives from the Express business.
The 2011 additional financial indicators relevant to underlying cash operating income:
• Pensions: gross cash contributions for defined benefit obligations approximately € 265 million (2010: € 240 million) – the P&L impact will be adjusted at the moment of demerger
• Restructuring cash outflows: around € 80 – 90 million (2010: € 58 million)
Other 2011 additional financial indicators:
• Effecti
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Datum laatste update: 01 september 2024