Trends continue – Swiss Post remains on track financially
Up to the end of September 2024, Swiss Post generated operating profit (EBIT) of 231 million francs, which is 23 million francs more than the prior-year period. Group profit stands at 178 million francs, 33 million francs higher year-on-year. In day-to-day business, the trends reflected in the interim results are unchanged: while volumes in the letter and parcel business continue to decline, the financial foundations remain solid.
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Structural decline in volumes remains a challenge
Swiss Post’s financial results to September 2024 are moderately better than the prior-year period. Both profit and revenue (operating revenue) rose slightly. The 23 million franc rise in operating profit to a total of 231 million francs is mainly due to the improved result at Logistics Services. As in the first half of the year, efficiency and price measures in this unit more than offset the renewed decline in demand in the letter and parcel business. As a result, the Group was able to compensate for the slowdown in revenue growth at PostFinance in the third quarter. From 1 January to 30 September 2024, PostFinance recorded operating profit of 148 million francs, representing a decline of 52 million francs year-on-year.
Structural decline in volumes remains a challenge
It is important to emphasize the dedication of the employees, who have continued to put in a great effort in the current year. “In October, we were recognized as a world-leading postal service for the eighth time running – this was only possible thanks to the commitment of each and every one of us. At the counter, on delivery rounds, in centers, on Postbuses or in the offices – our colleagues are committed to our customers every day,” says Alex Glanzmann, Head of Finance at Swiss Post. On the financial results, he adds: “The structural decline in volumes and the volatile interest rate environment remain a challenge for Swiss Post. However, I’m convinced that we have a stable foundation so that Swiss Post can continue to be relevant to the population”. Specifically, parcel volumes have continued to fall – the decline is 3.7 percent year-on-year. Swiss Post recorded a 5 percent drop in letter volumes. Meanwhile, payment transactions in the PostalNetwork unit were down once again, with a decline of 11 percent year-on-year. Swiss Post is convinced that it is successfully tackling these challenges by placing an even greater focus on its customers and offering services that are digitally and physically connected.
Group key figures
| Key figures | Unit | 2023 | 30.09.2023 | 30.09.2024 |
|---|---|---|---|---|
| Operating income | CHF million | 7 279 | 5 285 | 5 598 |
| Operating profit (EBIT)¹ | CHF million | 323 | 208 | 231 |
| Group profit | CHF million | 254 | 145 | 178 |
| Total assets | CHF million | 108 866 | 119 448 | 110 671 |
| Equity | CHF million | 10 255 | 10 046 | 10 540 |
| Investments | CHF million | 605 | 383 | 330 |
| Headcount at Swiss Post Group | FTEs² | 34 587 | 34 481 | 34 948 |