Group result down
In the first quarter of 2009, Swiss Post generated Group profit of CHF 198 million despite the difficult economic climate. However, this result is CHF30million down on the first quarter of the previous year.
In the first three months of 2009, Swiss Post generated Group profit of CHF 198 million (2008: CHF 228 million). This represents a fall of 13%. The drop in profit is attributable to pay rises, writedowns on financial investments necessitated by the situation on the financial market during the quarter under review, as well as the decline in letter volumes. The number of addressed letters dropped by 3.1%, which is significantly more than in the same period last year.
Compared with 2008, operating income rose by CHF 35 million to CHF 2,208 million. This increase was primarily due to currency effects in international postal traffic. At CHF 70 million, investments were more or less on a par with the previous year. In view of the unfavourable economic climate and the drop in earnings which the company will experience as a result of the announced price cuts for letters as of 1 July, Swiss Post is expecting its annual results to be significantly down on last year.
Key figures for the Group
|Unit||1st Quarter 2009||1st Quarter 2008||Year 2008|
|Operating income||CHF million||2208||2’173||8'980|
|Operating result1||CHF million||199||229||812|
|As % of operating income||%||9,0||10,5%||9,0|
|Group profit||CHF million||198||228||825|
|Total assets||CHF million||81019||60’453||71'603|
|Headcount at Swiss Post Group
|Headcount at Swiss Post
|Trainees at Swiss Post Group||FTE3||1683||1’580||1'631|
1 Operating result corresponds to operating profit before consideration of non-operating financial result and taxes (EBIT).
2 Investment in tangible fixed assets, participations & intangible assets
3 Headcount in terms of full-time equivalents (FTE) = average workforce in full-time equivalents.
|31 March 2009||Operating income (CHF million)||Operating result (CHF million)1||Headcount2|
|Swiss Post International||278||16||1'282|
|Strategic Customers & Solutions||168||-2||6'909|
|Post Offices & Sales||348||-35||6'969|
|31 March 2008||Operating income (CHF million)||Operating result (CHF million)1||Headcount2|
|Swiss Post International||248||9||1'261|
|Post Offices & Sales||347||-19||7'024|
|Strategic Customers & Solutions||169||6||5'390|
1 Operating result corresponds to operating profit before consideration of non-operating financial result and taxes (EBIT)
2 Headcount in terms of full-time equivalents (FTE) = average workforce in full-time equivalents