2013 was a solid year for PostNL. In a number of areas, we achieved cost savings that exceeded expectations. Delivery quality numbers improved to 95.9%, while customer satisfaction grew by one percentage point to 85%. Our Parcels business performed as expected, with strong volume growth and expansion into new areas. The International segment improved its performance, also in line with expectations. We sold half of our stake in TNT Express and used the proceeds to reduce our debt. And at the end of the year, we reached an agreement with the unions and our pension fund on a sustainable pension arrangement. This agreement will result in a reduction of our cash contribution and a limitation of the top-up payment obligation.
These developments mean we are firmly on target to achieving a solid financial position. We expect this to lead to a BBB+ credit rating and positive consolidated equity in 2016, enabling us to pay dividend to our shareholders.
Herna Verhagen
