Service-oriented - Die Schweizerische Post

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98 Annual Report | Financial Report | Financial statements of Swiss Post Group Consolidated cash flow statement CHF m Note 2006 2005 Earnings before taxes 839 815 Depreciation and amortization 24, 25 257 252 Net gains from the sale of property, plant and equipment – 52 – 36 Net writedowns of financial assets 7 – 31 Net decrease in provisions – 164 – 62 Other net financial income/(expense) (excl. financial services) – 12 – 27 Other noncash income/expense – 3 0 Change in net current assets: Decrease in receivables 50 48 (Decrease)/increase in liabilities 41 – 121 Decrease/(increase) in other noninterestbearing current assets Change in items from financial services: – 8 0 Decrease/(increase) in receivables due from banks (term of three months or more) 45 – 195 Increase in financial assets – 2 646 – 232 Change in customer deposits/interestbearing amounts due from customers 4 734 3 269 Change in other receivables/liabilities from financial services 167 – 69 Income taxes paid – 8 – 8 Net cash from operating activities 3 247 3 603 Investment in property, plant and equipment 24 – 492 – 329 Investment in intangible assets (excl. goodwill) 25 – 13 0 Investment in subsidiaries, minus cash and cash equivalents acquired 33 – 35 – 13 Investment in associates 0 – 5 Proceeds from disposal of property, plant and equipment 110 52 Proceeds from disposal of other (nonoperating) financial assets (net) – 19 – 28 Interest received (excl. financial services) 12 15 Net cash used in investing activities – 437 – 308 Decrease in other financial liabilities – 30 – 58 Interest paid – 4 – 2 Transfer from earnings available for appropriation to Swiss Post pension fund 9 – 350 – 350 Dividends paid to minority interests – 2 – 1 Net cash used in financing activities – 386 – 411 Change in cash and cash equivalents 2 424 2 884 Cash and cash equivalents at 1 January 12 935 10 051 Cash and cash equivalents at 31 December 15 359 12 935 Cash and cash equivalents include: Cash 2 806 2 296 Receivables due from banks with an original term of less than three months 15 12 553 10 639 Total cash and cash equivalents at 31 December 15 359 12 935
Annual Report | Financial Report | Financial statements of Swiss Post Group Notes to the consolidated financial statements 1 Business activities of Swiss Post Swiss Post is a public organization with its head office in Berne which is wholly owned by the Swiss Confederation. Swiss Post and its subsidiaries (hereinafter referred to as Swiss Post) provide logistics and financial services both in Switzerland and abroad; see Note 5 (Segment information). 2 Accounting principles Introduction The consolidated financial statements of Swiss Post have been prepared in accordance with International Financial Reporting Standards (hereinafter referred to as IFRS). They also comply with the Postal Organization Act. The consolidated financial statements are drawn up on the basis of historical cost. Exceptions to this rule are described in the accounting principles set out below. For instance, derivative financial instruments and financial assets held for trading, designated at fair value and classified as “available for sale” are carried in the balance sheet at their fair value. To take account of the characteristics of the financial services and their importance for Swiss Post, net income from financial services is shown separately in Note 6 (Net income from financial services). Furthermore, the balance sheet is not broken down into current and noncurrent items, but structured according to descending liquidity in accordance with IAS 30 (Disclosures in financial statements of banks and similar financial institutions). Financial expenses and income from financial services and the underlying cash flows are shown as operating expenses, income or cash flows. Financial expenses and income from other business units are stated as nonoperating financial income or expense (excluding financial services) and the relevant cash flows as investment or financing transactions. 99
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“ I’d like Swiss Post to stay t
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Swiss Post - the backbone of the ba
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Mail PostMail delivers 15 million l
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Considerate 2006 2005 Individual co
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tions expected of us as an employer
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AG and our goods logistics was not
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with multi-modal transport. The ide
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Developments in the economic enviro
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tract for subsidiaries of Swiss Pos
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management of internal postal servi
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quality. 98 percent of all A Mail a
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PostFinance is the first financial
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the parcel centre. PostLogistics is
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ganserland region. However, after n
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In 2006, SPI generated most of its
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over a period of two years. Swiss P
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dropped from 9.2 million in 2005 to
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esses being taken over by the Group
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2010. The focus here will be on cos
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els that benefit both parties. Comb
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“ Addressed bulk mailings are par
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PostLogistics: a clever buyer for t
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in headcount at the parent company
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The survey results confirm that emp
Page 49 and 50: post office building in Lausanne, w
Page 51 and 52: Quality management Swiss Post aims
Page 53 and 54: a new job within the company, suppo
Page 55 and 56: 15 percent compared with the refere
Page 57 and 58: tive than a salary increase and als
Page 59 and 60: Overall, Swiss Post employs more pe
Page 61 and 62: workplace and in case of addiction
Page 63 and 64: With its commitment to the Swiss Yo
Page 65 and 66: sic component and a variable perfor
Page 67 and 68: “ I’m often the only woman at m
Page 69 and 70: value (350 million francs) from 200
Page 71 and 72: Jean-Marc Eggenberger Nicola Thibau
Page 73 and 74: Hans-Peter Strodel - Head of Financ
Page 75 and 76: Corporate Governance Annual Report
Page 77 and 78: made on implementation of its strat
Page 79 and 80: Financial risks The financial risks
Page 81 and 82: Human Resources Yves-André Jeandup
Page 83 and 84: Financial Report Our values in figu
Page 85 and 86: Volumes/capital trend Swiss Post’
Page 87 and 88: Annual Report | Financial Report |
Page 89 and 90: Group profit Operating result (befo
Page 91 and 92: Trend among European postal organiz
Page 95 and 96: Appropriation of profits Annual Rep
Page 97 and 98: Consolidated balance sheet Annual R
Page 99: Annual Report | Financial Report |
Page 103 and 104: 3 Consolidation and accounting prin
Page 111 and 112: Results by business segment Annual
Page 113 and 114: CHF m 7 Other operating income Annu
Page 119 and 120: 12 Financial income Annual Report |
Page 121 and 122: CHF m 16 Inventories Annual Report
Page 123 and 124: 20 Financial assets available for s
Page 127 and 128: 23 Investments in associates Annual
Page 131 and 132: Cash-generating units Reviewing the
Page 133 and 134: 26 Financial liabilities Annual Rep
Page 135 and 136: 31 December 2006 27 Provisions Annu
Page 137 and 138: Other Notes 28 Operating leases Swi
Page 139 and 140: 29 Contingent liabilities Annual Re
Page 141 and 142: Financial instruments by currency A
Page 143 and 144: 32 Scope of consolidation Annual Re
Page 149 and 150: 34 Non-current assets held for sale
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Annual Report | Financial Report |
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PostFinance - balance sheet CHF m A
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GRI index Annual Report | Financial
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162 Annual Report | Financial Repor
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Service-oriented - Die Schweizerische Post

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