At 640 million francs, operating profit* (EBIT) is on a par with the previous year’s level (632 million francs). The slight increase is due to higher operating profit on the financial services market despite the ongoing low interest rate situation. The other markets made lower contributions to the result year-on-year.
In the first nine months of the year, Group profit* stood at 503 million francs, which represents an increase of 9 million francs. At 640 million francs, operating profit* (EBIT) is 8 million francs up on the previous year’s figure. This is principally due to lower book losses on financial assets and significantly higher net trading income following the lifting of the minimum euro exchange rate. The number of addressed letters declined further – albeit at a slower rate. The logistics market continues to face intense competition.
In the communication market, Swiss Post recorded an operating profit* (EBIT) of 166 million francs in the first three quarters of 2015 (previous year: 188 million francs). The decline in income at PostMail and Post Offices & Sales, caused by slightly lower volumes, could not be offset, despite a reduction in expenses in all the units within this market and the higher contribution to the results from Swiss Post Solutions. The number of addressed letters fell by just 1.0 percent, while the number of unaddressed items actually rose by 1.2 percent.
In the logistics market, Swiss Post recorded an operating profit* (EBIT) of 95 million francs, which is around 2 million francs less than in the prior-year period. Declines in revenue from small consignment transport and warehousing, combined with lower income in the fuel business, were mostly offset by higher parcel volumes and optimized operating expenses. Parcel volumes were up 2.5 percent.
In the passenger transport market, Swiss Post recorded an operating profit* (EBIT) of 29 million francs (previous year: 36 million francs). While operating income remained in line with the previous year, operating expenses* rose year-on-year due to the higher headcount. The number of kilometres covered by PostBus increased by 1.0 percent.
PostFinance benefits from upturn in foreign exchange trading
PostFinance, which operates in the financial services market, achieved an operating profit* (EBIT) of 351 million francs, which represents an increase of 42 million francs year-on-year. Lower book losses on financial assets and higher transaction volumes on the currency markets following the lifting of the minimum euro exchange rate made a substantial contribution to the improvement in results.
However, net interest income before impairment was down year-on-year due to the ongoing very low, and in some cases negative, interest rates on the markets. As a result of targeted measures in connection with the introduction of negative interest rates by the Swiss National Bank, customer deposits have declined by 4.4 billion francs since the beginning of the year. During the same period, 13,000 new customers placed their trust in PostFinance.
Source: Swiss Post