TNT 2008 objectives rest on economic outlook
20 / 02 / 2008
REVENUES were up 9.5 per cent for TNT in Q4 2007. Profit stood at 986 million euros, up 4.5 per cent on Q$ 2006.
Its Phase II Focus on Networks ‘Grow and Build Value’ was also announced stating clear growth and return objectives for 2008-2012 in line with ‘Focus on Networks’ objectives.
“2007 has been a good year for the group. In Express, TNT has been able to expand its market share in Europe again. The acquisitions in the emerging markets performed according to our plans and establish unique platforms for the future,” said Peter Bakker, TNT, chief executive officer.
“Express EBIT increased again and is now at record levels. In Mail, underlying results were solid and largely provided the necessary offset for the declining Mail volumes in the Netherlands. The discussions with the labour unions in the Netherlands on the new Collective Labour Agreement are ongoing in a constructive manner. A provision of €110 million ($161 million) for the costs associated with efficiency projects at TNT Post has now been recorded. The liberalisation of mail in Europe is – although planned for 2011 – under serious pressure from the developments in Germany with respect to the minimum wage. This will continue to require our relentless effort in 2008.
“For 2008, our outlook is in line with our mid-term objectives as presented on 6 December, 2007. As the economic outlook is more uncertain, TNT is carefully monitoring this development to be able to respond in an appropriate way if required.”