International Europe segment
Revenues in International Europe rose by 9.1% to €789 million. Underlying revenue growth, adjusted for currency effects, working day effect and the negative impact of lower fuel surcharges, was 8.2%, with the following business highlights: revenues from SMEs grew 9.5%; revenues from strategic accounts rose by a double digit figure; all operating units in Europe posted revenue growth during the quarter.

Consignment volumes and average weight went up 6.6% and 8.1%, respectively. But revenue per consignment and per kilo slightly decreased due to lower fuel surcharges.

The segment's adjusted operating income more than doubled year-on-year to €52 million. The improvement is mainly explained by revenue growth and the reduction in indirect costs. Fourth-quarter 2014 operating income was influenced by the brand re-launch (€13 million for International Europe out of a group investment of €22 million)
International AMEA segment
Revenues in International AMEA increased 4.7% year-on-year to €270 million, supported by positive currency effects.

Currency comparable revenue growth was -3.5%. Underlying revenue growth, adjusted for currency effects, working day effect and the negative impact of lower fuel surcharges, was -1.6%.

This reduction is explained by the year-on-year decline in China's exports to Europe. Revenue decrease in China and Hong Kong was partly offset by growth in India and Middle-East & Africa. Revenues from SMEs grew faster than those from large customers and now represent a bigger proportion of the segment's overall revenues.

Service quality further improved, with on-time delivery performance higher than in the fourth quarter of 2014.

Revenue per consignment rose by a healthy 6.9% year-on-year. International AMEA transported fewer but heavier consignments than in the prior year. Daily weights increased 6.2%.

International AMEA's adjusted operating income increased by €5 million (+23.8%) to €26 million, supported by good cost control. All operating units posted a higher operating income than in the prior year.

Domestics segment
Revenues in the Domestics segment were €690 million, flat with the fourth quarter of 2014, as revenue growth in Europe balanced the decrease in Brazil and Australia.

Underlying revenue growth, adjusted for currency effects, working day effect and the negative impact of lower fuel surcharges, was 0.9%.

Revenues from SMEs improved year-on-year in all units, supported by better service quality. Average daily consignments increased 0.9%. Revenue per consignment declined 2.6% year-on-year due to pricing pressures, lower fuel surcharges and customer mix effects.

The fourth quarter saw good progress from a profitability standpoint. Despite the flat revenues, the segment's adjusted operating income increased by €23 million to €31 million as a result of cost reductions.

Adjusted operating income improved in all European units. The Pacific unit started to benefit from productivity improvements brought by the new hubs in Sydney, Melbourne and Brisbane. Profitability in Brazil declined year-on-year due to lower sales attributable to the recession. Management pursued cost reductions to mitigate the decrease.

Unallocated segment
The Unallocated segment consists of Other Networks (TNT Innight), Central Networks and corporate head office functions.

The segment's revenues were €115 million, down 4.2% year-on-year. Adjusted operating income was minus €13 million, compared with minus €1 million in the fourth quarter of 2014. The decrease is attributable to higher pension costs.

TNT Express NV issued this content on 16 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 February 2016 06:13:25 UTC

Original Document: http://www.tnt.com/corporate/en/data/press/2016/02/tnt-reports-fourth-quarter-and-full-year-2015-results.html