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4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  TNT Express    TNTE   NL0009739424

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TNT Express 1Q Net Profit EUR16 Million, Timetable For UPS Offer Unchanged

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05/02/2012 | 08:40am CET

Dutch package company TNT Express NV (>> TNT EXPRESS) Wednesday said it swung to a first quarter net profit due to lower write-downs and indicated that the timetable for completion of the proposed takeover offer from United Parcel Service Inc. (UPS) remained unchanged.

MAIN FACTS:

- Reported revenues EUR1.819 billion, up 1.3% compared to EUR1.796 billion a year ago

- Net profit for the first quarter was EUR16 million, compared to a EUR106 million net loss in the first quarter of 2011

- Operating income for the first quarter rose to EUR37 million, from an operating loss of EUR79 million a year ago

- Depreciation, amortisation and impairments decreased to EUR48 million, from EUR175 million

- Timetable for completion of proposed UPS offer proceeding as previously indicated

- Indirect cost savings programme launched in May 2011 on track

- Timing of implementation of certain long-term projects that are part of 2012-2013 fixed-cost savings programme temporarily adjusted in light of the proposed UPS offer

- By Amsterdam Bureau, Dow Jones Newswires; amsterdam@dowjones.com

Stocks mentioned in the article : TNT EXPRESS
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Managers
NameTitle
David Binks Chief Executive Officer
David J. Bronczek Chairman-Supervisory Board
Maarten de Vries Chief Financial Officer
Shemaya Levy Vice Chairman-Supervisory Board
Margot A. Scheltema Member-Supervisory Board
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Sector and Competitors
1st jan.Capitalization (M$)
TNT EXPRESS0.00%0
UNITED PARCEL SERVICE,..20.46%101 533
FEDEX CORPORATION29.40%51 238
DEUTSCHE POST AG11.87%37 358
EXPEDITORS INTERNATION..16.94%9 601
YAMATO HOLDINGS CO., L..-9.95%8 358
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