BRIEF-PostNL says Q4 underlying revenue flat at 1,214 million euro

AMSTERDAM Mon Feb 24, 2014 1:39am EST

AMSTERDAM Feb 24 (Reuters) - PostNL NV : * Says Q4 underlying revenue flat year on year at €1,214 million * Says Q4 revenue EUR 1,206 million eur (Reuters poll average 1.205 billion euros) * Q4 underlying cash operating income up 21% year on year to 81 million euros * Growth in parcels and international compensated for the revenue decline in mail in The Netherlands * Q4 operating income up 48% to EUR 258 million, mainly as a result of the improved results in mail in The Netherlands * Post nv- 2015 outlook underlying cash operating income includes euro 20 million impact from changes in joint venture accounting/uk * Net debt reduced by E426 million to E798 million * Post nv- 2015 outlook underlying cash operating income also includes euro 20 million from business developments in parcels * In 2014 aim to achieve underlying cash operating income of 180-220 million euros * We increased our cost saving target for 2017 by €75 million -CEO * Aim to restore cash dividend in 2016 * We expect mail volume to decline by between 9% and 12% in the coming years-CEO

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