Investor Relations
Share performance
Our relative performance and ordinary shares
| 2007 | 2006 | |
|---|---|---|
| Stock price (in €) | ||
| High | 36.08 | 32.62 |
| Low | 25.67 | 26.30 |
| Close | 28.25 | 32.58 |
| Earnings per outstanding share (in € cents) | 257.4 | 159.3 |
| Dividend (in € cents) | 85.0 1 | 73.0 |
| Dividend pay-out ratio (as a %) | 33.0 | 45.8 |
| Dividend yield (based on closing rate for the year) | 3.01 | 2.24 |
| P/E Ratio | 10.98 | 20.45 |
| Number of issued ordinary shares | 379,224,255 | 422,767,600 |
| Stock market capitalisation (in € billions) | 10,713 | 13,774 |
| Adjusted stock market capitalisation (in € billions) 2 | 10,467 | 12,779 |
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Relative performance to Euronext Amsterdam (AEX) at closing prices during 2007 (AEX index rebased to TNT):
Relative performance to Euronext Amsterdam (AEX) at closing prices since listing in 1998 (AEX index rebased to TNT):
The following table indicates the form in which the ordinary shares were held as at 31 December 2007.
| Form | Number of shares | Percentage of outstanding ordinary shares |
|---|---|---|
| Bearer shares | 362,447,180 | 95.58% |
| Non-ADS registered shares | 1,603 | 0.00% |
| ADSs 1 | 16,775,472 | 4.42% |
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ADSs are now so called “level 1” shares and are not listed on the NYSE but traded on the over-the-counter market.
Major shareholders
Since most of the ordinary shares are in bearer form, the analyses of shareholdings by region and investor type are estimates based on the limited information available to TNT through market sources. These estimates as of 31 December 2007 and expressed as a percentage of total shares outstanding (excluding shares held by the company) on that date, are:
On 26 July 2007, TNT received notification from the Netherlands Authority for the Financial Markets (AFM) that it had received disclosures of a substantial holding in the company by Morgan Stanley & Co International Plc. under the Netherlands Financial Markets Supervision Act (Wet op het financieel toezicht). This substantial holding in the company was subsequently step by step reduced to below 5% as of 9 August 2007. More information can be found on the website of the AFM under notifications substantial holdings.
The Financial Markets Supervision Act imposes a duty to disclose percentage holdings in the capital and/or voting rights in the company when such holding reaches, exceeds or falls below 5%, 10%, 15%, 20%, 25%, 30%, 40%, 50%, 60%, 75% and 95%. Such disclosure must be made to the AFM without delay which then notifies the company.
Peer group Total Shareholder Return comparison
For comparative reasons, the company has defined a peer group of publicly listed companies with activities in the same industries in which TNT is active. This peer group consists of the Germany-based company Deutsche Post, with activities in mail, express and logistics, the Austrian Oesterreichische Post, provider of mail and parcel services, as well as the two United States-based express carriers FedEx and United Parcels Services. For this peer group, the comparative performance in terms of total shareholder returns in 2006 and 2007 is charted below.
As of 2007 Kuehne & Nagel International AG was removed from the peer group and replaced with Oesterreichische Post to better reflect TNT’s business mix following the divestment of the Logistics division on 4 November 2006 and the divestment of the freight management business (formerly Wilson) on 5 February 2007.