Press Release


Record margin in Express and strong margin in Mail

Publish Date : 29 July 2005 at 08:00 CET - TNT N.V. has published it's 2005 second quarter results.

  • Strong margin in Mail of 20.8%
  • Record high margin in Express of 10.1%
  • Mixed picture in Contract Logistics
  • Interim dividend up 10% to 22 cents
Key numbers
Q2 2005 €mil Q2 2004 €mil % Change HY 2005 €mil HY 2004 €mil % Change
Revenues 3,385 3,056 10.8% 6,661 6,037 10.3%
Operating income (EBIT) 342 352 -2.8% 646 648 -0.3%
Net income 210 210 0% 403 396 1.8%
Operating cash flow 384 115 233.9% 459 406 13.1%
Earnings per share (€ cents) 46.1 44.2 4.3% 88.6 83.3 6.4%
Operating margins
Q2 2005 Q2 2004 HY 2005 HY 2004
Mail 20.8% 23.4% 21.4% 23.2%
Express 10.1% 8.8% 9.1% 7.4%
Logistics 3.4% 4.1% 2.4% 3.2%
Contract logistics 3.7% 4.1% 2.6% 3.2%
Freight Management 2.2% nm 1.5%

CEO Peter Bakker:
“In the second quarter of this year we see a continued good performance of our Mail and Express divisions. The Mail division reported another strong operating margin, despite higher pension costs, and our European Mail Networks business continued to record strong organic revenue growth of 20%. Express revenues grew double digit and operating income was up 28%, reaching another margin record. The division is firmly on track to reach its ambitious target of a 10% operating margin in 2007. In Logistics, our freight management operations continue to make progress but achieving growth in some of our contract logistics business has been difficult. We have reviewed our French Logistics business unit carefully and today we announce our plans - we intend to withdraw from basic transportation activities and refocus on the areas of contract logistics where we can earn our cost of capital.”

Page publication date: 29 July 2005 at 08:00 CET