Swiss Post profits up 34%
Swiss Post generated a Group profit of CHF 741m ($762) for the first nine months of the year, the company has said. This amounts to an increase of CHF 188m on a year-on-year period, equating to 34%.
The Group described results as “good” and credited the increase in earnings to the success in the retail financial market and the positive trend in the logistics market.
Operating income went up by 2.9% to CHF 6.4bn (2009: CHF 6.2bn). Operating expenses were reduced slightly.
In the same period, the headcount increased by 603 full-time employees, to 45,084 full-time staff.
A company spokesman said: “Swiss Post generated good results in all the four markets in which it operates. In the communications market, it achieved an operating result of CHF 91m, which is CHF 18m above the prior-year period. The decline in addressed letters continued; the volume of mail was 2.8% lower by the end of September than it was at the same time a year before.
“In the logistics market the operating result rose from CHF 26m to CHF 110m. Here, PostLogistics benefited from the economic recovery and a revival in electronic trade, which was reflected in an increase in parcel volume by 3.8%. A number of efficiency-enhancing measures also had a positive effect on the improved results in this market.
“The retail finance market (PostFinance) made the largest contribution to the Group result, CHF 455m (previous year: CHF 351m). The continued growth in customer deposits was the main factor behind this increase.
In the market for public passenger transport, PostBus achieved an operating result of CHF 26m (previous year: CHF 34m). The decrease in comparison to the previous year is due to the expanded offering, among other things.”
Key figures for the Group
|
Figure |
Unit |
01.01 to 30.09 |
01.01 to 30.09 |
Full year 2009 |
| Operating income | CHF m | 6,383 | 6,203 | 8,558 |
| Operating result1 | CHF m | 746 | 559 | 721 |
| As % of operating income | % | 11.7 | 9.0 | 8.4 |
| Group profit | CHF m | 741 | 553 | 728 |
| Total assets | CHF m | 92,043 | 80,573 | 84,676 |
| Equity | CHF m | 4,067 | 3,337 | 3,534 |
| Investments2 | CHF m | 205 | 257 | 431 |
| Employees at Swiss Post Group (excluding trainees) | FTEs3 | 45,084 | 44,481 | 44,803 |
| Trainees at Swiss Post Group | FTEs3 | 1,879 | 1,720 | 1,756 |
1 Operating result corresponds to profit before non-operating financial result and taxes (EBIT).
2 Investment in tangible fixed assets, participations & intangible assets
3 Average expressed in terms of full-time equivalents
Selected key figures by segment (Group units) 30. September 2010
|
Market |
Unit |
Operating income (CHF m) |
Operating result (CHF m)1 |
| Communication market | 91 | ||
| Communication market | PostMail2 | 1,913 | 134 |
| Communication market | Swiss Post International2 | 570 | 37 |
| Communication market | Swiss Post Solutions | 489 | 4 |
| Communication market | Post Offices & Sales2 | 1,245 | -84 |
| Logistics market | PostLogistics2 | 1,089 | 110 |
| Retail finance market | PostFinance | 1,764 | 455 |
| Public passenger transport market | PostBus4 | 513 | 26 |
| Other5 | 725 | 64 |
Selected key figures by segment (Group units) 30. September 2009
|
Market |
Unit |
Operating income (CHF m) |
Operating result (CHF m)1 |
| Communication market | 73 | ||
| Communication market | PostMail2 | 2,047 | 141 |
| Communication market | Swiss Post International2 | 644 | 39 |
| Communication market | Swiss Post Solutions | 484 | -13 |
| Communication market | Poststellen und Verkauf2 | 962 | -94 |
| Logistics market | PostLogistics2 | 1,087 | 26 |
| Retail finance market | PostFinance | 1,591 | 351 |
| Public passenger transport market | PostAuto4 | 475 | 34 |
| Other5 | 475 | 75 |
1 Operating result corresponds to profit before non-operating financial result and taxes (EBIT).
2 Figures for previous year only comparable to a certain extent due to changes in allocation of products.
3 SPI figures adjusted as a result of restatement.
4 In the field of regional public transport, PostBus is subject to the DETEC ordinance on the accounting of licensed companies (REVO). There are differences between REVO and IFRS.
5 Includes management and service units such as Real Estate, Information Technology, etc.
Overview of customer satisfaction with individual units of Swiss Post
|
Unit |
2009 |
2010 |
Change |
| Swiss Post Group | 80 | 80 | – |
| Swiss Post Solutions | 78 | 81 | 3 |
| PostFinance, business customers | 83 | 83 | – |
| PostMail, business customers | 76 | 78 | 2 |
| PostLogistics, business customers | 79 | 79 | – |
| Swiss Post International, business customers | 75 | 72 | -3 |
| Post Offices & Sales, business customers | 80 | 81 | 1 |
| PostBus, commuters | 73 | 75 | 2 |
| PostBus, tourists | 81 | 83 | 2 |
| PostFinance, private customers | 84 | 85 | 1 |
| Post Offices & Sales, private customers | 87 | 87 | – |
