Publish Date : 17 February 2015 07:00 CET –
Amsterdam, The Netherlands
- Reported revenues €1,787m (+1.6%), reported operating income €(53)m (4Q13: €79m positive)
- Comparable revenue growth (adjusted for disposals and foreign exchange) of 3.2%, adjusted operating income €50m (4Q13: €59m)
- Lower reported operating income due to Outlook-related restructuring charges and implementation costs (€70m), goodwill impairments (€32m) triggered by the new reporting structure, TNT re-launch (€22m)
- Outlook initiatives on track: new organisational and reporting structure in place, step-up in investments in infrastructure, 4Q CAPEX €88m (4.9% of revenues)
- 4Q operating income includes the impact (€5m) of the change in accounting treatment for the PIS/COFINS taxes in Brazil (without impact on net income); net income impacted by non-recurring tax expenses of €77m, of which a €67m non-cash valuation allowance on deferred tax assets
- Proposed final dividend of €0.031 per share
Read more at tnt.com