Service-oriented - Die Schweizerische Post

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150 Annual Report | Financial Report | Financial statements of Swiss Post Balance sheet CHF m 31.12.2006 31.12.2005 Assets Cash 2 797 2 293 Receivables due from banks 13 744 11 890 Interestbearing amounts due from customers 81 81 Trade accounts receivable 936 908 Other receivables 701 737 Inventories 54 54 Noncurrent assets held for sale 12 12 Financial assets 34 784 32 001 Investments 187 150 Property, plant and equipment 1 732 1 671 Intangible assets 7 7 Total assets 55 035 49 804 Equity and liabilities Customer deposits 48 377 43 642 Other financial liabilities 614 435 Trade accounts payable 670 652 Other liabilities 723 680 Provisions 576 575 Total liabilities 50 960 45 984 Endowment capital 1 300 1 300 Free reserves 2 171 1 736 Profit for the year 604 784 Total equity 4 075 3 820 Total equity and liabilities 55 035 49 804
Annual Report | Financial Report | Financial statements of Swiss Post Notes to the annual financial statements of Swiss Post 1 Accounting principles The financial statements of Swiss Post were prepared in accordance with generally accepted commercial principles. Furthermore, the accounting records and financial statements and the proposed appropriation of net profit for the year comply with the Postal Organization Act. 2 Accounting principles 2a) General information The financial statements of Swiss Post are based on the financial statements of the legally dependent Accounting Units, which are prepared using consistent, generally accepted principles. Internal transactions among the Accounting Units are eliminated. Swiss Post comprises the following Accounting Units: PostMail, Logistics, Mobility Solutions, Post Offices & Sales, PostFinance, PostBus, Swiss Post International, Real Estate and Central Services (Stamps & Philately, Corporate Purchasing, Information Technology Services, Service House and the management units of Swiss Post). The subsidiaries controlled by the parent are not consolidated but carried in the balance sheet under “Investments” at cost minus any necessary writedowns. 2b) Differences in accounting policies compared with the IFRS consolidated financial statements The financial statements of Swiss Post were prepared in accordance with the accounting policies used in drawing up the consolidated financial statements, with the following exceptions: Financial assets Financial assets with a fixed maturity classified as “Available for sale” are measured at amortized cost. Interest raterelated fluctuations in fair value (volatility) do not therefore affect the carrying amount of the financial assets and the reported equity (no fair value reserve). Loans granted by the parent to subsidiaries are carried in the balance sheet at amortized cost less any necessary writedowns. Writedowns are recognized under Financial expenses. Provisions for insurance risks In accordance with the principle of selfinsurance, provisions for insurance risks cover future claims that have not yet been incurred. Large claims can therefore be settled via the insurance provisions. Employee benefits Pension expenses reported for Swiss Post correspond to the employer contributions transferred to the Swiss Post pension fund. Long-term benefits due to employees and retirees The costs of longterm benefits due to employees and retirees such as loyalty bonuses and staff vouchers are recognized when they are incurred; provisions are not made systematically over the years of service of employees. 3 Contingent liabilities As at 31 December 2006, there are guarantees amounting to 11 million francs (2005: 1 million francs). 151
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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
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Financial Report Our values in figu
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Volumes/capital trend Swiss Post’
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Annual Report | Financial Report |
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Group profit Operating result (befo
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Trend among European postal organiz
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Appropriation of profits Annual Rep
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Consolidated balance sheet Annual R
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Page 101 and 102: 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
Page 151: Annual Report | Financial Report |
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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Service-oriented - Die Schweizerische Post

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