TNT announces 4Q & FY14 results, sets Outlook agenda and guidance for 2018-19

Publish Date : 17 February 2015 07:00 CET –

Amsterdam, The Netherlands

  • Reported revenues €1,787m (+1.6%), reported operating income €(53)m (4Q13: €79m positive)
  • Comparable revenue growth (adjusted for disposals and foreign exchange) of 3.2%, adjusted operating income €50m (4Q13: €59m)
  • Lower reported operating income due to Outlook-related restructuring charges and implementation costs (€70m), goodwill impairments (€32m) triggered by the new reporting structure, TNT re-launch (€22m)
  • Outlook initiatives on track: new organisational and reporting structure in place, step-up in investments in infrastructure, 4Q CAPEX €88m (4.9% of revenues)
  • 4Q operating income includes the impact (€5m) of the change in accounting treatment for the PIS/COFINS taxes in Brazil (without impact on net income); net income impacted by non-recurring tax expenses of €77m, of which a €67m non-cash valuation allowance on deferred tax assets
  • Proposed final dividend of €0.031 per share


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