Excellent Third Quarter For Nedlloyd.Business Editors ROTTERDAM Rotterdam, city, Netherlands Rotterdam (rŏt`ərdăm', Dutch rôtərdäm`), city (1994 pop. 598,521), South Holland prov., W Netherlands, on the Nieuwe Maas (New Meuse) River near its mouth on the North Sea. , The Netherlands--(BUSINESS WIRE)--Nov. 16, 2000 Royal Nedlloyd, an international logistics The negotiating, planning, and implementation of supporting logistic arrangements between nations, their forces, and agencies. It includes furnishing logistic support (major end items, materiel, and/or services) to, or receiving logistic support from, one or more friendly foreign services provider, today announced its third quarter 2000 financial results. Highlights third quarter 2000 - Result excluding book profit of EUR 28 mln (third quarter 1999: EUR 1 mln) - Operating results of P&O Nedlloyd increased by US dollar 59 mln - Net result including book profit of EUR 45 mln - Loss by Martinair Results In the third quarter Royal Nedlloyd achieved considerably better results than in the comparable period in 1999. The result on ordinary activities amounted to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 28 mln (1999: EUR 1 mln). The improved result is due to positive developments within P&O Nedlloyd. The net result amounts to EUR 45 mln. This includes a book profit on the sale of Mammoet Mammoet is a Dutch company specialised in hoisting and transporting heavy objects. It raised the Russian submarine Kursk. The company is experienced in the offshore sectors, in placing large objects in the petrochemical industry, construction, as well as rapid bridge of EUR 17 mln (third quarter 1999: EUR 267 mln, as a result of the book profit on the sale of Nedlloyd ETD ETD abbr. estimated time of departure Noun 1. ETD - a system for screening luggage in airports; an agent passes a swab around or inside luggage and then runs the swab through a machine that can detect trace amounts of ). As already known, Martinair Martinair is an airline based in Amsterdam, the Netherlands. It operates passenger and cargo services to over 50 destinations worldwide, of which more than 20 are in the Mediterranean area. will suffer a considerable loss in 2000 due to sharply rising fuel costs and fierce competition. In the third quarter Nedlloyd's share in the result of Martinair amounted to EUR - 3 mln, (third quarter 1999: EUR 8 mln). Joint venture P&O Nedlloyd In the third quarter P&O Nedlloyd achieved an operating result of US dollar 75 mln before interest and taxation. This signifies an increase of US dollar 59 mln compared with the same period last year and indicates a continuation in the positive trend. In the third quarter P&O Nedlloyd moved 786,700 TEUs, an increase of well over 8% compared with the same period in 1999. The average revenue per TEU TEU Twenty-Foot Equivalent Units (intermodal shipping container) TEU Technical Escort Unit TEU Technical Escort Unit (Army) TEU Tactical Enforcement Unit TEU Treaty of European Union increased by about 5% compared with the same period last year. The higher results follow increased volumes, higher rates and costs savings that together compensated the sharp rise in fuel costs. Nedlloyd's share in the result of P&O Nedlloyd amounted to EUR 31 mln (third quarter 1999: EUR -1 mln). For further details on P&O Nedlloyd we refer to today's separately issued joint press release by Nedlloyd and P&O. Interest income minus expenses The positive interest result of EUR 2 mln means an improvement of EUR 6 mln compared with the third quarter of 1999. The improvement is the result of the redemption of interest bearing debts and received interest on deposits. Financial position Thanks to the strength of the US dollar compared with the Euro, and the improved results of P&O Nedlloyd, the intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. of Nedlloyd shares at the end of the third quarter rose by EUR 5 to EUR 44. Outlook We maintain our forecast that Nedlloyd will this year achieve a clearly positive result on ordinary activities (1999: EUR - 31 mln). Our outlook is founded on the improved results of P&O Nedlloyd up to the present time and its expected positive developments during the rest of the year. The state of affairs with Martinair is accounted for in our outlook. Royal Nedlloyd is an international logistics services provider. Nedlloyd's shares are listed on the Amsterdam and Frankfurt Stock Exchanges Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. and are traded in ADR ADR - Astra Digital Radio form in the US (symbol RNLGY in the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Market Noun 1. OTC market - a stock exchange where securities transactions are made via telephone and computer rather than on the floor of an exchange over-the-counter market ; each ADR is equal to one-half of an ordinary share). Nedlloyd ordinary shares may be accessed on Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. under the symbol NLYN NA, on Quotron under NEDLN.EU and the Reuter Equities 2000 System under NYLN NYLN National Youth Leadership Network (Pierre, SD) .AS. Additional information is also available on Nedlloyd's home page: http://www.nedlloyd.com.
Royal Nedlloyd N.V.
Consolidated Profit and Loss Account
(x EUR 1 million) 2000 1999 (1)
2000 1999 (1) u/i u/i
3rd 3rd 3rd 3rd
quarter quarter quarter quarter
------- ------- ------- -------
Share in result non-consolidated
participations
P&O Nedlloyd 31 -1 27 -35
Mammoet 0 2 2 5
Martinair -3 8 -12 7
------- ------- ------- -------
28 9 17 -23
Discontinued activities 0 -2 0 13
Corporate overheads
and other activities -2 -2 -4 -10
Interest income minus expenses 2 -4 5 -20
------- ------- ------- -------
Result on ordinary
activities before taxation 28 1 18 -40
Taxation 0 0 0 -1
------- ------- ------- -------
Result on ordinary
activities after taxation 28 1 18 -41
Extraordinary
result after taxation 17 266 17 266
------- ------- -------- -------
Net result 45 267 35 225
---------
Average number of outstanding
ordinary shares (x 1,000) 22,798 22,758 22,810 22,511
In euros per
outstanding ordinary share:
Net result 1.97 11.73 1.53 10.00
Result on ordinary
activities after taxation 1.23 0.04 0.79 -1.82
----------------------------------------------------------------------
(1) adjusted for purposes of comparison
Figures unaudited.
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