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Good quarterly results for Swiss Post
In the first quarter of 2011, Swiss Post generated Group profit of CHF 319 million. This result is CHF 45 million up on the first quarter of the previous year. The rise in customer deposits at PostFinance is the main reason for this increase.
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In the first three months of 2011, Swiss Post generated Group profit of CHF 319 million (Q1 2010: CHF 274 million). This represents an increase of 16%. The positive development was primarily due to an increase in new customers and customer deposits at PostFinance. The markets of communication, logistics and public passenger transport also showed slight improvements on the previous year.
Compared with 2010, operating income fell by CHF 13 million to CHF 2,214 million. The decline is mainly attributable to lower revenue from real estate disposals ("Other" segment) and foreign currency effects. Investments, which totalled CHF 62 million and were once again entirely funded from the Group’s own resources, were slightly higher than the same period last year. Total assets exceeded CHF 100 billion for the first time.
Key figures for the Group
| Key figures for the Group | Unit | Q1 2011 | Q1 2010 | Full year 2010 |
|---|---|---|---|---|
| Operating income | CHF m | 2,214 | 2,227 | 8,736 |
| Operating result[1] | CHF m | 318 | 276 | 930 |
| As % of operating income | % | 14.4 | 12.4 | 10.7 |
| Group profit | CHF m | 319 | 274 | 910 |
| Total assets | CHF m | 100,962 | 88,573 | 93,310 |
| Equity | CHF m | 4,560 | 3,846 | 4,224 |
| Investments[2] | CHF m | 62 | 53 | 364 |
| Headcount at Swiss Post Group (excluding trainees) | FTEs[3] | 43,944 | 45,211 | 45,129 |
| Trainees at Swiss Post Group | FTEs[3] | 1,920 | 1,922 | 1,824 |
1 ↑ Operating result corresponds to result before consideration of 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)
| 31 March 2011 | Operating income (CHF m) | Operating result (CHF m)[1] | |
|---|---|---|---|
| Communications market | 58 | ||
| Communications market | PostMail | 669 | 73 |
| Communications market | Swiss Post International | 220 | 19 |
| Communications market | Swiss Post Solutions | 139 | 2 |
| Communications market | Post Offices & Sales | 445 | -36 |
| Logistics market | PostLogistics | 359 | 43 |
| Retail financial market | PostFinance | 607 | 184 |
| Public passenger transport market | PostBus[2] | 177 | 11 |
| Other[3] | 228 | 22 |
| 31 March 2010 | Operating income (CHF m) | Operating result (CHF m)[1] | |
|---|---|---|---|
| Communications market | 57 | ||
| Communications market | PostMail | 680 | 67 |
| Communications market | Swiss Post International | 205 | 15 |
| Communications market | Swiss Post Solutions | 161 | -1 |
| Communications market | Post Offices & Sales | 459 | -24 |
| Logistics market | PostLogistics | 377 | 42 |
| Retail financial market | PostFinance | 572 | 131 |
| Public passenger transport market | PostBus[2] | 171 | 10 |
| Other[3] | 255 | 36 |
1 ↑ Operating result corresponds to 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 ↑ Includes management and service units such as Real Estate, Information Technology, etc.