Tag: Swiss Post International

Swiss Post achieved a good result in H1 2008. With net income of EUR 265 million the result was EUR 51 m or 16.1 pct below the record figure of the year-back period. Swiss Post International – Swiss Post’s international unit – generated operating income of EUR 327 m, which was EUR 28 m below the year-back period. The reason for this was due mainly to the current currency situation. SPI is nevertheless likely to contribute to the Group profit of Swiss Post in 2008.

Swiss Post International (SPI), which operates in the international mail, parcel and express business, posted a good operating result again in the first half of 2008. The performance was not quite as good as that in 2007, however. SPI generated operating income of EUR 327 m in the first half. This is EUR 28 m below the year-back figure. SPI lost around EUR 6 m as a result of transactions in foreign currencies, which were converted at a lower rate than in mid-2007. The result from translation of amounts due from international partners was also around EUR 21 m lower.

Most SPI subsidiaries were able to lift their operating income again compared with last year. SPI intends to continue along its growth path in the next few years with a number of ongoing projects in sales and with additional acquisitions. SPI is thus driving the steady expansion of its international network. Already at the beginning of 2008 SPI acquired the Swedish letter processor IMS Europe AB.