Service-oriented - Die Schweizerische Post

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132 Annual Report | Financial Report | Financial statements of Swiss Post Group The portfolio of repurchase transactions is exposed to volatility. If demand for funds is relatively high, shortterm refinancing requirements are covered through repurchase transactions. Generally speaking, collateral was provided for the full amount of the repurchase transactions. In accordance with hedge accounting requirements, an amount of 14 million francs (2005: 1 million francs) was posted to derivative financial instruments (negative fair values). Interest expense for customer deposits amounted to 255 million francs in the reporting period (2005: 175 million francs). Present value of obligations under finance leases 31 December 2006 31 December 2005 Nominal Discount Present value Nominal Discount Present value CHF m Up to 1 year 7 0 7 2 0 2 1 to 5 years 17 – 1 16 8 – 1 7 Over 5 years 2 0 2 2 0 2 Total 26 – 1 25 12 – 1 11
31 December 2006 27 Provisions Annual Report | Financial Report | Financial statements of Swiss Post Group Other longterm benefits due to employees Restructuring Incurred claims Litigation risks Other Total CHF m As at 1.1 336 155 50 7 14 562 Additions due to acquisition of subsidiaries – – – – 21 23 Increase 19 5 9 271 1 61 Present value adjustment 8 3 – – 1 12 Utilized – 22 – 21 – 9 0 – 3 – 55 Released – 2 – 7 – 4 – 1 – 3 – 17 As at 31.12 339 135 46 33 31 586 of which current 22 33 10 21 7 93 1 The provisions for litigation risks were increased primarily in connection with allowances for working night shifts and Sundays during holiday periods. Swiss Post was thereby responding to various court rulings affecting other companies. 31 December 2005 Other longterm benefits due to employees Restructuring Incurred claims Litigation risks Other Total CHF m As at 1.1 328 179 47 10 9 573 Additions due to acquisition of subsidiaries – – – – – – Increase 31 18 14 2 11 76 Present value adjustment 9 5 – – – 14 Utilized – 23 – 28 – 9 – 1 – 5 – 66 Released – 9 – 19 – 2 – 4 – 1 – 35 As at 31.12 336 155 50 7 14 562 of which current 23 41 9 – 7 80 Other long-term benefits due to employees Other longterm employee benefits primarily include anniversary bonuses for long years of service to the company and staff vouchers (mainly for retirees). The trend is set out in the following tables. 133
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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
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post office building in Lausanne, w
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Quality management Swiss Post aims
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a new job within the company, suppo
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15 percent compared with the refere
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tive than a salary increase and als
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Overall, Swiss Post employs more pe
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workplace and in case of addiction
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With its commitment to the Swiss Yo
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sic component and a variable perfor
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“ I’m often the only woman at m
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value (350 million francs) from 200
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Jean-Marc Eggenberger Nicola Thibau
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Hans-Peter Strodel - Head of Financ
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Corporate Governance Annual Report
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made on implementation of its strat
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Financial risks The financial risks
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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 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: 26 Financial liabilities Annual Rep
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
Page 157 and 158: PostFinance - balance sheet CHF m A
Page 159 and 160: GRI index Annual Report | Financial
Page 164 and 165: 162 Annual Report | Financial Repor
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