TNT Express NV reported a quarterly loss as restructuring measures and a provision to cover potential costs from an investigation into alleged anti-competitive behaviour in France bit into the Dutch logistics company's earnings.

The operating loss amounted to €47 million, after the company booked a charge of €50 million related to the French probe. It also incurred €46 million in restructuring costs.

“We are losing market share, we have a competitive challenge,” said chief financial officer Maarten De Vries. “We need to catch up. We must improve our service quality, IT, brand, efficiency and productivity.”

TNT has been trying to stabilise earnings by focusing on its European overland network after UPS terminated a €5.16 billion bid for it last year amid opposition from EU regulators. – (Bloomberg)