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Quarterly financial statement: Swiss Post Group profit almost at previous year's level

In the first three quarters of 2012, Swiss Post generated a Group profit of 712 million francs. This is about one percent down on the period of the previous year; in view of the challenging environment, this is still a good achievement. Swiss Post achieved positive results in all four markets.

Between January and September of this year, Swiss Post has generated a group profit of 712 million francs (previous year: 721 million francs). Contending with increased operating income, Group profits dropped by 9 million francs, or one percent, in comparison with the same period last year. This was mainly due to higher staff expenditures. Operating income (turnover) rose by 43 million to 6,342 million francs (previous year 6,299 million francs).

Positive results in all four markets

Swiss Post produced positive results in all four of its markets. In the communications market, the operating result increased to 56 million francs (previous year 53 million francs). The main reason for this improvement is a lower operating loss in the post office network. The volume of addressed letters stabilized at minus 1.7 percent, while the volume of unaddressed mail increased by 48 percent as a result of the takeover of the DMC Group. The logistics market produced an operating result of 100 million francs (previous year: 111 million francs). Higher costs for shipping services and the new IT system are mostly responsible for this drop. The volume of parcels rose by 3.8 percent. PostFinance’s operations in the retail financial market contributed 497 million francs (previous year: 464 million francs) to the Group result. This increase is largely attributable to lower value adjustments to financial assets. In the public passenger transport market, PostBus generated an operating result of 33 million francs (previous year: 30 million francs). The rise is due to orders outside of regional transport as well as the latest expansion of services.

From today’s perspective, Swiss Post is expecting a Group result for the entire year 2012 in line with the previous year's level.

Group key figures

Key figures Unit 01.01. up to 30.09.2012 01.01. up to 30.09.2011 Year 2011
Operating income CHF m 6,342 6,299 8,599
Operating result[1] CHF m 707 720 908
as % of operating income % 11.1 11.4 10.6
Group profit CHF m 712 721 904
Total assets CHF m 115,298 102,615 108,254
Equity CHF m 5,450 4,693 4,879
Investments[2] CHF m 289 249 429
Headcount at Swiss Post Group (excluding trainees) FTEs[3] 44,763 44,216 44,348
Trainees at Swiss Post Group FTEs[3] 2,043 1,949 1,942

1  The operating result corresponds to the result before non-operating financial result and taxes (EBIT).
2  Investments in tangible assets, shareholdings and intangible assets
3  Average expressed in terms of full-time equivalents

Selected key figures per segment (Group units)

30 September 2012 Operating income (CHF m) Operating result
(CHF m)[1]
Communications market 3,492 56
Communications market PostMail 2,299 139
Communications market Swiss Post Solutions 407 1
Communications market Post Offices & Sales 1,201 -84
Logistics market PostLogistics 1,119 100
Retail financial market PostFinance 1,791 497
Public passenger transport market PostBus[2] 575 33
Other[4] 697 21
30 September2011 Operating income (CHF m) Betriebsergebnis (Mio. CHF)[1]
Communications market[3] 3,441 53
Communications market[3] PostMail[3] 2,284 160
Communications market[3] Swiss Post Solutions 401 5
Communications market[3] Post Offices & Sales 1,206 -112
Logistics market PostLogistics[3] 1,090 111
Retail financial market PostFinance 1,839 464
Public passenger transport market PostBus[2] 530 30
Other[4] 704 62

1  The operating result corresponds to the result before non-operating financial result and taxes (EBIT).
2  In the field of regional public transport, PostBus is subject to the DETEC directive on the accounting of licensed businesses (RKV). There are differences between RKV and IFRS.
3  The previous year's figures were adjusted in line with the discontinuation of the Swiss Post International segment as per 1 January 2012.
4  Includes the service units (Real Estate, Information Technology, Corporate Purchasing and Language Services) and management units (e.g. Human Resources, Finance and Communication)