International Europe segment

In the first quarter, the International Europe segment made further progress in improving revenues and service. Reported revenues rose by 2.4% to €679 million. Underlying revenue growth, adjusted for currency effects, lower fuel surcharges and working-day effect, was 7.8%.
The segment was able to generate an 8.3% year-on-year increase in revenues from SME customers. From a geographic standpoint, all operating units posted underlying revenue growth, with the exception of North America. Service quality and customer satisfaction both improved year-on-year. Consignment volumes and average weight went up 11.9% and 10.3%, respectively.
Revenue per consignment and per kilo decreased, however, due to lower fuel surcharges and the proportionally higher demand for Economy Express products than for premium services.
The segment's adjusted operating income of €(2) million was impacted by fewer working days as well as a drop in revenues and operating income in North America, which stems from the anticipation of the acquisition of TNT by FedEx. The segment also continued to invest in sales, marketing and capabilities to support service improvements, such as the continued expansion of the road network towards Eastern Europe.

TNT Express NV issued this content on 25 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 April 2016 05:06:05 UTC

Original Document: http://www.tnt.com/corporate/en/data/press/2016/04/tnt-reports-first-quarter-2016-results.html