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Good results in the first 9 months for Swiss Post

In the first three quarters of 2010, Swiss Post generated Group profit of CHF 741 million. This is an increase of CHF 188 million on the year-back period. The increase in earnings is due primarily to the success in the retail financial market and the positive trend in the logistics market. In the same period, the headcount increased by 603 full-time equivalents. Customers believe that the quality of postal services has remained at a very high level.

Between January and September 2010, Swiss Post generated Group profit of CHF 741 million (2009: CHF 553 million). This is CHF 188 million or 34% more than in the prior-year period. The improvement is due mainly to success in the retail financial market and better results in the logistics market. Operating income went up by 2.9% to CHF 6,383 million (2009: CHF 6,203 million). Operating expenses were reduced slightly. The Group headcount went up by 603 in comparison with the same period the previous year, to 45,084 full-time equivalents

Good results in all four markets

Swiss Post generated good results in all the four markets in which it operates. In the communications market, it achieved an operating result of CHF 91 million, which is CHF 18 million above the prior-year period. The decline in addressed letters continued; the volume of mail was 2.8 percent lower by the end of September than it was at the same time a year before. In the logistics market the operating result rose from CHF 26 million to CHF 110 million. Here, PostLogistics benefited from the economic recovery and a revival in electronic trade, which was reflected in an increase in parcel volume by 3.8%. A number of efficiency-enhancing measures also had a positive effect on the improved results in this market. The retail finance market (PostFinance) made the largest contribution to the Group result, CHF 455 million (previous year: CHF 351 million). The continued growth in customer deposits was the main factor behind this increase. In the market for public passenger transport, PostBus achieved an operating result of CHF 26 million (previous year: CHF 34 million). The decrease in comparison to the previous year is due to the expanded offering, among other things.

Customers still very satisfied

Customers continue to give Swiss Post high marks for the quality of its services in the survey results. As in 2009, customer satisfaction averaged 80 points out of 100 for the Group as a whole. This corresponds to a grade of «very good». Post Offices & Sales again scored the highest from its private customers with an unchanged 87 points. Among the individual units, PostMail (business customers), Post Offices & Sales (business customers), Swiss Post Solutions, PostBus and PostFinance (private customers) advanced. The Swiss Post customer survey is conducted each year by a neutral body and is representative.

Key figures for the Group

Figure Unit 01.01 to 30.09
2010
01.01 to 30.09
2009
Full year 2009
Operating income CHF m 6,383 6,203 8,558
Operating result[1] CHF m 746 559 721
As % of operating income % 11,7 9,0 8,4
Group profit CHF m 741 553 728
Total assets CHF m 92,043 80,573 84,676
Equity CHF m 4,067 3,337 3,534
Investments[2] CHF m 205 257 431
Employees at Swiss Post Group (excluding trainees) FTEs[3] 45,084 44,481 44,803
Trainees at Swiss Post Group FTEs[3] 1,879 1,720 1,756

1  Operating result corresponds to profit before non-operating financial result and taxes (EBIT).
2  Investment in tangible fixed assets, participations & intangible assets
3  Average expressed in terms of full-time equivalents

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

Market Unit Operating income (CHF m) Operating result (CHF m)[1]
Communication market 91
Communication market PostMail[2] 1,913 134
Communication market Swiss Post International[2] 570 37
Communication market Swiss Post Solutions 489 4
Communication market Post Offices & Sales[2] 1,245 -84
Logistics market PostLogistics[2] 1,089 110
Retail finance market PostFinance 1,764 455
Public passenger transport market PostBus[4] 513 26
Other[5] 725 64

Selected key figures by segment (Group units) 30. September 2009

Market Unit Operating income (CHF m) Operating result (CHF m)[1]
Communication market 73
Communication market PostMail[2] 2‘047 141
Communication market Swiss Post International[2] 644 39
Communication market Swiss Post Solutions 484 -13
Communication market Post Offices & Sales[2] 962 -94
Logistics market PostLogistics[2] 1'087 26
Retail finance market PostFinance 1'591 351
Public passenger transport market PostBus[4] 475 34
Other[5] 475 75

1  Operating result corresponds to profit before non-operating financial result and taxes (EBIT).
2  Figures for previous year only comparable to a certain extent due to changes in allocation of products.
3  SPI figures adjusted as a result of restatement.
4  In the field of regional public transport, PostBus is subject to the DETEC ordinance on the accounting of licensed companies (REVO). There are differences between REVO and IFRS.
5  Includes management and service units such as Real Estate, Information Technology, etc.

Overview of customer satisfaction with individual units of Swiss Post

Unit 2009 2010 Change
Swiss Post Group 80 80 -
Swiss Post Solutions 78 81 3
PostFinance, business customers 83 83 -
PostMail, business customers 76 78 2
PostLogistics, business customers 79 79 -
Swiss Post International, business customers 75 72 -3
Post Offices & Sales, business customers 80 81 1
PostBus, commuters 73 75 2
PostBus, tourists 81 83 2
PostFinance, private customers 84 85 1
Post Offices & Sales, private customers 87 87 -