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Reported revenues €1,787m (+1.6%), reported operating income €(53)m (4Q13: €79m positive)

Comparable revenue growth (adjusted for disposals and foreign exchange) of 3.2%, adjusted
operating income €50m (4Q13: €59m)
Lower reported operating income due to Outlook-related restructuring charges and implementation costs (€70m), goodwill impairm ents (€32m) triggered by the new reporting structure, TNT re-launch (€22m)

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