Good quarterly results for Swiss Post

Press release dated 09.05.2011

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.

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 result1 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
Investments2 CHF m 62 53 364
Headcount at Swiss Post Group (excluding trainees) FTEs3 43,944 45,211 45,129
Trainees at Swiss Post Group FTEs3 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 PostBus2 177 11
Other3   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 PostBus2 171 10
Other3   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.