Home » 3PL/4PL, Breaking News » TNT Express income slides 12% in Q3

TNT Express released third quarter results for the year showing revenue of EUR1.81 billion (US$2.35 billion), up 2.1 percent from the same period last year, but down 1.9 percent to EUR1.74 billion after adjusting results to constant exchange rates.

The Netherlands-based package delivery service reported in an official release an operating income for the third quarter of EUR46 million, higher by 43.8 percent from a year ago. This, however, dropped to EUR38 million, down 11.6 percent, after accounting for exchange rates.

Its nominal revenue from Europe and the Middle East increased to EUR1.1 billion for the quarter, up 3.2 percent from EUR1 billion in quarter three last year.

Revenue from Asia-Pacific slid to EUR448 million, down 2.6 percent from EUR460 million, while the Americas contributed EUR118 million to the company’s revenue, an increase of 1.7 percent from last year’s EUR116 million.

The company statement also gave an update on United Parcel Service’s bid to take over its operations, saying the two were preparing a response to the European Commission’s statement of objections while continuing dialogues with the commission.

Earlier, U.S.-based UPS and TNT Express confirmed their receipt of a statement of objections from the European Commission (EC) questioning the impact of their intended merger on the competition in the international express small package market in Europe.

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