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Good quarterly results for Swiss Post
In the first quarter of 2012, Swiss Post achieved a group profit of CHF 299 million, and thereby almost equalled the good result achieved in the same period last year. Operating income saw moderate growth. The CHF 20 million drop in profit is attributable to an additional number of one-off expenditures.
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In the first three months of 2012 Swiss Post generated a group profit of CHF 299 million (Q1/2011: CHF 319 million). Factors influencing the 6 per cent drop include increased personnel costs resulting from higher employee benefit obligations and one-off expenditures associated with the planned legal restructuring of Swiss Post. The logistics, retail finance and public passenger transport markets recorded slightly lower results than in the previous year, while the communications market posted an improvement thanks to a lower deficit in the post office network.
Operating income increased slightly on the previous-year quarter by 0.4 per cent to CHF 2.223 billion (Q1/2011 CHF 2.214 billion). Investments entirely financed from the Group’s own funds totalled CHF 77 million, some CHF 15 million more than in the same period last year. Based on these initial results, Swiss Post forecasts good annual results for 2012, albeit slightly down on the very good results achieved in 2011.
Key figures for the Group
| Key figures for the Group | Unit | Q1 2012 | Q1 2011 | Full year 2011 |
|---|---|---|---|---|
| Operating income | CHF million | 2,223 | 2,214 | 8,599 |
| Operating result[1] | CHF million | 291 | 318 | 908 |
| % of operating income | % | 13.1 | 14.4 | 10.6 |
| Group profit | CHF million | 299 | 319 | 904 |
| Total assets | CHF million | 118,584 | 100,962 | 108,254 |
| Equity | CHF million | 5,204 | 4,560 | 4,879 |
| Investments[2] | CHF million | 77 | 62 | 429 |
| Headcount at Swiss Post Group (excluding trainees) | FTEs[3] | 44,840 | 43,945 | 44,348 |
| Trainees at Swiss Post Group | FTEs[3] | 2,038 | 1,920 | 1,942 |
1 ↑ Operating result corresponds to earnings before non-operating financial result and taxes (EBIT).
2 ↑ Investments in tangible fixed assets, participations and intangible assets.
3 ↑ Average workforce expressed in terms of full-time equivalents.
Selected key figures by segment (Group units)
| 31 March 2012 | Operating income (CHF million) | Operating result (CHF million)[1] | |
|---|---|---|---|
| Communications market | 1,264 | 60 | |
| Communications market | PostMail | 828 | 85 |
| Communications market | Swiss Post Solutions | 142 | 2 |
| Communications market | Post Offices & Sales | 442 | -27 |
| Logistics market | PostLogistics | 386 | 40 |
| Retail finance market | PostFinance | 611 | 178 |
| Public passenger transport market | PostBus[2] | 184 | 10 |
| Other[3] | 227 | 3 |
Selected key figures by segment (Group units)
| 31 March 2011 | Operating income (CHF million) | Operating result (CHF million)[1] | |
|---|---|---|---|
| Communications market | 1,274 | 55 | |
| Communications market | PostMail[4] | 834 | 89 |
| Communications market | Swiss Post Solutions | 139 | 2 |
| Communications market | Post Offices & Sales | 445 | -36 |
| Logistics market | PostLogistics[4] | 374 | 46 |
| Retail finance market | PostFinance | 607 | 184 |
| Public passenger transport market | PostBus[2] | 177 | 11 |
| Other[3] | 228 | 22 |
1 ↑ Operating result corresponds to earnings 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 companies (RKV). There are variations between RKV and IFRS.
3 ↑ Includes management and service units such as Real Estate, Information Technology, etc.
4 ↑ The prior-year value has been adjusted to take into account the falling away of Swiss Post International with effect from 1 January 2012.