TNT 3Q2009 revenue down 2.6%, EBITDA down 9%

TNT revenue down 2.6% - financial highlights for the three months ended 30-Sep-2009:

• Revenue: EUR2,483 million, -7.6% year-on-year;
  • Express: EUR1,467 million, -11.4%;
  • Mail: EUR956 million, -0.8%;
• Operating costs: EUR2,313 million, -6.7%;
• EBITDA: EUR269 million, -9.4%;
  • Express: EUR123 million, -20.1%;
  • Mail: EUR143 million, -2.7%;
• EBIT: EUR179 million, -14.4%;
  • Express: EUR63 million, -36.4%;
  • Mail: EUR114 million, -1.7%;
• Net profit: EUR99 million, -12.4%. [more]

TNT: "In this quarter the trading environment has stabilised further - with some early signs of positive underlying developments. With Q3 being the low volume season, the EBIT of both our divisions is at a satisfactory level. The rate of decline of Express volumes has modestly improved. In particular, the average weight per consignment developed positively for the first time in a year, while price pressure remained. At the same time, our people continue to deliver on cost. TNT is optimally positioned to take advantage of a possible economic upturn but also needs to be prepared for continued harsh economic conditions and therefore remains focused on achieving its aggressive cost and cash control targets," Peter Bakker, CEO. Source: TNT, 02-Nov-2009.