TPG improves operating margins across the board
28 February 2005 - 11:32 CET
Q4 highlights:- Express reaches 10% operating margin for the first time
- Logistics lifts margin to 4.1% helped by standardisation programme
- Wilson acquisition driving Logistics revenue growth: integration on track
- Higher growth in European Mail Networks
- Strong margin in Mail
Full Year highlights:
- Strong operating cashflow and net income growth€€
- Full year dividend lifted to 57 cents, up from 48 cents last year*
(Subject to approval by the AGM)
CEO Peter Bakker:
'In 2004, we have been not only seen good progress in our Mail, Express and Logistics businesses, which all managed to increase their margins, but we have also made significant strides towards a great future under the strong TNT brand-name, which has now been chosen as the flag we sail under in all markets and geographies. The successful turnaround of Logistics in 2004 has continued in the fourth quarter and with the acquisition of Wilson, freight management has been added to our portfolio of services. In Mail, the prospects of real penetration into new markets is improving with strong growth in European Mail Networks. Express continues to improve, reaching a new record margin of 10% in the quarter. Let me conclude by paying a big compliment to all of my colleagues in the group, and particularly to my 60,000 Mail Netherlands colleagues who, despite the organisational changes, have managed to lift the quality of overnight delivery to a record 96.5 percent.'
