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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.
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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).