TNT reports improved results in Q1

Group results:

• Reported revenues increased from €2.44 billion in Q1 2009 to almost €2.75 billion
• Reported operating income increased from €163 million in Q1 2009 to €251 million
• Reported profit attributable to shareholders came in at €143 million, up 88.2% from €76 million in Q1 2009

Express segment:

• Reported operating income was up 285% to €77 million (Q1 2009: €20m)
• Reported revenues increased by 18.8%, to almost €1.62 billion, (Q1 2009: €1.36bn)

Mail segment:

• Reported operating income was up 19.5% to €178 million (Q1 2009: €149m)
• Reported revenues increased by 4% to almost €1.07 billion (Q1 2009: €1.03bn)

TNT assumes a modestly improving business environment in 2010. However, given that the global economic recovery remains fragile, caution is warranted, and the company’s focus will remain on costs and cash.

TNT expects continuing volume and revenue growth in the Express segment, most of which will be from international services, especially International Economy.