Bad weather costs TNT Express 15m euros

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Bad weather across Europe in December cost TNT’s Express business 15 million euros, the company said in a business update.

TNT’s Liege hub was shut for two days, with disruptions to service lasting longer. The estimated negative impact on Express divisional EBIT is €15 million.

However, it said, Express does not foresee a negative effect on the previously guided 2011 EBIT range of 420-440 million euros.

TNT NV, the parent group, is in the process of splitting its mail and express businesses into two separate companies. It said that in the accounts for the full year 2010, Express would be reported under discontinued operations.

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