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Group profit stable after three quarters

In the first three quarters of 2011, Swiss Post generated a Group profit of CHF 721 million. This is three percent less than in the same period last year. Swiss Post achieved good results in all four markets. The slight fall in profit is essentially due to a decline in counter transactions.

In the first nine months of 2011, Swiss Post generated a Group profit of CHF 721 million (previous year: CHF 741 million). This slight drop of CHF 20 million or three percent is mainly due to a decline in over-the-counter business. Group operating income fell by CHF 84 million to CHF 6,299 million (previous year: CHF 6,383 million).

Varied developments

In all four markets in which it operates, Swiss Post achieved positive results in the face of varied developments. In the communication market, it achieved an operating result of CHF 61 million (previous year: CHF 91 million). Volumes of addressed domestic letters remained stable. The decline in post office counter business (payments and the mailing of letters and parcels) continued. Income generated in the communication market is of vital importance for financing the postal network. In the logistics market, the operating result fell by CHF 7 million to CHF 103 million. The main reasons for this were a 1.4 percent fall in parcel volumes and higher employee benefit obligations. In the retail financial market, the operating result increased to CHF 464 million (previous year: CHF 455 million). This increase is primarily due to higher customer deposits. In the public passenger transport market, PostBus generated a result of CHF 30 million – CHF 4 million more than in the same period last year. The main reason for this increase is the further expansion of services.

At the end of 2011, Swiss Post expects to post a result similar to that of last year.

Key figures for Swiss Post Group

Key figures Unit 01.01. to 30.09.
2011
01.01.to 30.09.
2010
Full year
2010
Operating income CHF million 6'299 6'383 8'736
Operating result[1] CHF million 720 746 930
As a % of operating income % 11,4 11,7 10,7
Group profit CHF million 721 741 910
Total assets CHF million 102'615 92'043 93'310
Equity CHF million 4'693 4'067 4'224
Investments[2] CHF million 249 205 364
Headcount at Swiss Post Group (excluding trainees) FTE[3] 44'216 45'084 45'129
Trainees at Swiss Post Group FTE[3] 1'949 1'879 1'903

1  Result before consideration of non-operating financial result and taxes (EBIT).
2  Investment in tangible fixed assets, participations & intangible assets.
3  Average workforce in full-time equivalents.

Selected key figures by segment (Group units) 30 September 2011

Segment Unit Operating income (CHF m) Operating result (CHF m)[1]
Communication market 3'479 61
Communication market PostMail 1'877 136
Communication market Swiss Post International 563 32
Communication market Swiss Post Solutions 401 5
Communication market Post Offices & Sales 1'206 -112
Logistics market PostLogistics 1'046 103
Retail financial market PostFinance 1'839 464
Public passenger transport market PostBus[2] 530 30
Other[3] 704 62

Selected key figures by segment (Group units) 30 September 2010

Segment Unit Operating income (CHF m) Operating result (CHF m)[1]
Communication market 3'625 91
Communication market PostMail 1'913 134
Communication market Swiss Post International 570 37
Communication market Swiss Post Solutions 489 4
Communication market Post Offices & Sales 1'245 -84
Logistics market PostLogistics 1'089 110
Retail financial market PostFinance 1'764 455
Public passenger transport market PostBus[2] 513 26
Other[3] 725 64

1  Result before consideration of non-operating financial result and taxes (EBIT).
2  In the field of regional public transport, PostBus is subject to the DETEC ordinance on the accounting of licensed companies (RKV). There are differences between RKV and IFRS.
3  Comprises service units (Real Estate, Information Technology, Corporate Purchasing and Language Services) and management units (including Human Resources, Finance and Communication).