Swiss Post announces results for first-half 2015
Swiss Post has announced that it achieved “encouraging” results in a “difficult environment” in the first half of 2015. Generated normalized group profit was 391m francs, up 21m francs on the first half of 2014. Normalized profit (EBIT) was up 32m francs to 504m francs.
Swiss Post said that the improved result was “principally due to solid income on the financial and investment markets, which offset lower interest income, as well as to good cost management.”
Operating income was down 1% to 4.1bn francs.
Breaking the figures down into sectors, Swiss Post said that the financial services market’s normalized contribution to the result proved higher than in the first half of the previous year, whereas the contributions from the other markets declined.
As with most postal operators, Swiss Post’s results were mostly a tale of declining letter volumes and more growth in the parcel sector.
In the communication market, Swiss Post recorded an EBIT of 137m francs, down 17m francs on last year.
Swiss Post commented: “The decline in income at PostMail and Post Offices & Sales caused by lower volumes could not be offset, despite a reduction in expenses in all the units within this market. The decline in volumes of addressed letters decreased to 0.7% year-on-year. The volume of unaddressed items fell
by 1.1%. Swiss Post Solutions’ result remained stable.”
In the logistics market, Swiss Post recorded an EBIT of 65m francs, down just 1m francs from last year. “Declines in sales in small consignment transport and warehousing, combined with lower income in the
fuel business, were almost fully offset by higher parcel volumes and optimization of operating expenses. Parcel volumes increased by 2.2% year-on-year,” said Swiss Post.
PostFinance, the company’s financial services arm, saw its EBIT increase by 50m francs to 280m francs.
Swiss Post concluded its results announcement by saying that it believes the “challenges resulting from the markets and technological change” will continue to grow, but it still “expects to meet the financial goals of its owner again in 2015”.
