Thanks to the acquisition of the former sister company TNT FedEx’s capital position strengthened considerably, while the company has room to withstand a further decline in interest rates.
TNT gave earlier this year that dividend about 2017 would be possible, if the acquisition of TNT would be completed this year and would not fall further interest. investors have not received any dividends since the demerger of TNT in 2011, as PostNL struggling with negative equity.
Pensions
The company has in recent months the impact of low interest rates his pension under the microscope and discovered that further reductions will turn out as bad as previously thought.
“ we are more resistant to low interest rates than we thought, ” said CEO Herna Verhagen. That situation was not previously recognized, she wrote to the exceptional situation created by the ultra-low interest rates ” We move on land that is fairly new to auditors. ”
Stable revenue
TNT reported on Monday continued his turnover has stabilized last quarter to 824 million euros. underlying operating profit was more than a quarter down to 47 million. Below the line resulted in a net profit of 166 million euros a year earlier compared with a loss of 4 million euros.
the postal market in the Netherlands shrank last quarter by 7.6 percent, making the decrease in traffic for quite letters in 2016 to around was 9 percent. There was a growth of 16 percent in the field of parcel delivery front. Here remains PostNL benefit from the growth of shopping over the internet.
World
The foreign business yielded PostNL operational point quarter profit nor loss, after an increase of EUR 5 million last year. Here, however, provides the company in the coming months recovery, Verhagen said.
“” Both Germany and Italy we can benefit from cost savings and we have won customers. These are expected for extra volume ensure . ”
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