Group revenues up 9.0%; mostly organic growth

Profit from continuing operations up 5.0% to €169 million

31.3% increase in Express operating income
       Double digit revenue growth, with record volumes
       Record third quarter margin of 8.8% 

Mail revenue growth of 2.6% and margin of 14.2% in line with outlook
       EMN revenue growth over 25%, with higher costs due to acceleration in capacity growth
       Dutch addressed mail impacted by fewer bank mailings, ongoing competition and substitution

Decision to divest Freight Management
       Results included in discontinued operations 

Part of the one-off costs related to sale of the Logistics businesses booked, as earlier indicated, in Q3

CEO Peter Bakker:
“TNT’s Board of Management is pleased with the results of the third quarter. Operating income grew by 8.9% fueled by new records in Express both in terms of revenue growth and the Q3 margin level. The Mail operating margin was in line with the outlook but Mail Netherlands saw ‘above trend’ volume decreases in this quarter. We confirm the full-year outlook for TNT.

The completion of the sale of our Logistics division – for which all approvals have now been obtained – is still expected before the year end. Part of the earlier-indicated costs related to the sale of Logistics was booked in the third quarter results. Good strategic progress has been achieved with the acquisition of a road express operator in India and further accelerated growth of EMN. To further focus our business on operating networks, we announce today our intention to exit Freight Management.