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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 CEST

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
Louis Willem Gunning Chief Executive Officer
Antony Burgmans Chairman-Supervisory Board
Maarten de Vries Chief Financial Officer
Roger King Independent Member-Supervisory Board
Shemaya Levy Vice Chairman-Supervisory Board
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Sector and Competitors
1st jan.Capitalization (M$)
TNT EXPRESS0.00%0
UNITED PARCEL SERVICE,..14.41%97 182
FEDEX CORPORATION7.54%42 545
DEUTSCHE POST AG-0.39%34 857
YAMATO HOLDINGS CO., L..-0.16%10 075
EXPEDITORS INTERNATION..10.78%9 096
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