During the second quarter, TNT’s revenues fell 5.9-percent, year-over-year, to 1.67 billion euros ($2.24 billion ), as the company’s profit improved by 98.7 percent to -4 million euros.
Revenues for the first six months of the year are down 3.6 percent, year-over-year.
Taking a piece-by-piece view, the company said positive operating developments are occurring in Europe, while the domestic Asia, Middle East and Africa market, as well as domestic Brazilian operations, are showing “significantly better” results compared to the second quarter of 2013. In the Pacific, the company said, operating results remain under pressure.
“We are experiencing uneven economic growth across Western Europe and see competitive pressures in some of these countries continuing,” TNT’s CEO, Tex Gunning, said in a statement. “Cost savings and restructuring remain on track and ‘Outlook 2016’ initiatives are now being implemented globally across all TNT’s business units.
“With the new management board in place and the intrinsic strength and commitment of our people, I have great confidence we can build a sustainable future for TNT, meeting the expectations of our shareholders, customers and employees. ”
During a shareholder meeting on Sept. 18, the TNT board will consider Maarten de Vries in the role of chief financial officer.
TNT revenues down in Q2
