Service-oriented - Die Schweizerische Post

152 Annual Report | Financial Report | Financial statements of Swiss Post
4 Assets pledged as security for own obligations
As at 31 December 2006, assets with carrying amounts totalling some 9,112 million francs (2005: 5,776 million
francs) were pledged as collateral for own obligations (bonds).
5 Lease obligations
Lease obligations not recognized in the balance sheet (operating leases) total 527 million francs at 31 December
2006 (2005: 427 million francs).
6 Fire insurance values of property, plant and equipment
The fire insurance values of property, plant and equipment total 5,458 million francs at 31 December 2006
(2005: 5,546 million francs).
7 Investments
Please see note 32, Scope of consolidation, in the consolidated financial statements. Investments in
subsidiaries held directly by the parent are carried in the balance sheet at cost less any necessary writedowns.
Writedowns are recognized under Financial expenses.
8 Amounts due to employee benefit funds
The amounts due to the Swiss Post pension fund total 12 million francs at 31 December 2006 (2005: 3 mil­
lion francs).
9 Equity
The Swiss Confederation has provided Swiss Post with interest­free endowment capital of 1,300 million francs.
Proposal of the Board of Directors concerning
appropriation of net retained profit
According to Article 12 of the Postal Organization Act (POA), the appropriation of profit should be determined
primarily by the requirements of the business. The key issues are an appropriate capital structure and the
financing of investments. Any profit remaining after transfers to reserves is handed over to the Swiss Confederation.
Given the insufficient equity base of Swiss Post Group, and based on Article 12 of the POA, the Board
of Directors of Swiss Post therefore proposes to the Swiss Federal Council that Swiss Post’s profit of 604 million
francs be allocated as follows:
– 350 million francs to be deposited in the Swiss Post pension fund as the employer’s reserve and
– 254 million francs to be allocated to Swiss Post reserves.