TNT reports increased revenues and profits

TNT has reported a 12% increase in profit from continuing operations and a 10% increase in group revenues, driven by Express and EMN growth.

Revenue for the second quarter of 2007 were €2.69 billion (Q2 2006: €2.44bn), although the operating income dipped 2.1% to €330 million (Q2 2006: €337m).

For the first half of the year, revenues were up 9.6% to €5.36 billion (H1 2006: €4.9bn), and operating profit was up 2.6% to €681 million (H1 2006: €664m).

“Overall, the second quarter brought satisfactory results for TNT,” said CEO Peter Bakker. “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.”

Express

Q2 revenue up 14.1% to €1.67 billion (Q2 2006: €1.46bn)
Q2 EBIT up 4% to €156 million (Q2 2006: €150m)
H1 revenue up 12.3% to €3.29 billion (H1 2006: €2.91bn)
H1 EBIT up 5.9% to €286 million (H1 2006: €270m)
Europe accounted for almost 80% of total Express revenues

Mail

Q2 revenue up 3.8% to €1.02 billion (Q2 2006: €985m)
Q2 EBIT down 13.4% to €181 million (Q2 2006: €209m)
H1 revenue up 4.2% to €2.08 billion (H1 2006: €2bn)
H1 EBIT down 4.4% to €412 million (H1 2006: €431m)
Mail Netherlands accounted for around 60% of total Mail revenues
CEO Peter Bakker said the group expects its Express division to achieve revenue growth of around 15% for the full year, and mid-single-digit growth in the Mail division.