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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.
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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)