Press Release


Profit from continuing operations up 12.0%

Publish Date : 30 July 2007 at 08:00 CET - TNT N.V. has published it's 2007 second quarter results.

Group

  • Earnings per share from continuing operations up by 21.6%
  • Further optimisation of capital structure announced
  • Interim dividend of 30 cents per share, an increase of 15.4%

Express

  • Strong revenue growth of 14.1%
  • Solid operating margin performance, excluding the effect of acquisitions

Mail

  • Margin in line with expectations
  • Strong revenue growth in EMN

Outlook

  • Operating margin guidance Mail increased from around 17% to around 17.5%
  • Uplift in EMN full year revenue outlook to 30-35%, with slightly lower margin
  • Express outlook maintained
Key numbers
Q2 2007
mil
Q2 2006
mil
% Change
Revenues 2,689 2,444 10.0
Operating incomes (EBIT) 330 337 -2.1%
Profit from continuing operations 233 208 12.0%
Profit/(loss) from discontinued operations 11 1
Profit/(loss) attributable to the shareholders 244 209 16.7%
Cash generated from operations 314 236 33.1%
Net cash from operating activities 139 129 7.8%
Earnings per share (in € cents) 63.1 49.7 27.0%
Earnings from continuing operations per share (in € cents) 60.2 49.5 21.6%
Key numbers
HY 2007
€ mil
HY 2006
€ mil
% Change
Revenues 5,365 4,896 9.6%
Operating incomes (EBIT) 681 644 2.6%
Profit from continuing operations 467 423 10.4%
Profit/(loss) from discontinued operations 206 (9)
Profit/(loss) attributable to the shareholders 671 414 62.1%
Cash generated from operations 668 600 11.3%
Net cash from operating activities 377 435 -13.3%
Earnings per share (in € cents) 172.9 96.7 78.8%
Earnings from continuing operations per share (in € cents) 119.8 98.8 21.3%

CEO Peter Bakker:

“Overall, the second quarter brought satisfactory results for TNT. The volume development in Express was particularly strong for our international flows, and Mail performed in line with our expectations. The strategic growth initiatives in Mail and Express made good progress. Particularly our new South American Express expansion is getting up to speed fast, whilst China and India continue to develop according to plan. The strong revenue growth in EMN in the first half of 2007 enables us to lift the full year revenue growth outlook, while the additional start up costs lead to a slightly reduced margin outlook. For the Mail division in total, we are able to lift our full year operating margin guidance to around 17.5%.

TNT is making good progress in the continued successful deployment of the ‘Focus on Networks' strategy. An expression of our confidence going forward is also today's announcement of a further optimised capital structure. The financing proceeds thereof will be used amongst others for a new € 500 million share buy back and contribute to the funding of a balanced social plan for Mail masterplans.”

Page publication date: 30 July 2007 at 08:00 CET