Service-oriented - Die Schweizerische Post

Group profit
Operating result
(before interest, taxes)
Operating income of the segments
Consolidated income statement
Annual Report | Financial Report | Financial commentary
At 837 million francs, Group profit for 2006 was 3.2 percent or 26 million francs up on the prior­year figure
of 811 million francs.
CHF m
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800
31 December 2006 837
CHF m
0 200 400 600
800
31 December 2005 811
Operating income came to 7,895 million francs (2005: 7,499 million francs). The increase was based on higher
net sales from financial and logistics services totalling 7,483 million francs (2005: 7,194 million francs). The
main contributors to the growth in operating income with third parties were the Financial Services, International,
Other (primarily Real Estate) and New Businesses segments. The further increase in customer deposits
had a positive impact on income from financial services. The Mail segment, on the other hand, suffered a
fall in sales. Other operating income came to 412 million francs (2005: 305 million francs), an increase
of 107 million francs. 20 million francs of this came from the sale of items of property, plant and equipment
which were no longer required for operating purposes. The remainder is attributable to services provided
by the International segment – such as customs clearance and logistics (e.g. for Procter&Gamble). The effect of
acquisitions on operating income amounted to 197 million francs.
Mail
2006
34.2 %
Logistics Services 13.6 %
Financial Services 20.0 %
Passenger Transport 7.3 %
International 13.7 %
Post Office Network 5.1 %
New Business 4.1 %
Other 2.0 %
2005
36.9 %
13.8 %
20.2 %
7.4 %
13.2 %
5.2 %
1.4 %
1.9 %
At 7,072 million francs, operating expenses were up 378 million francs or 5.6 percent on the prior­year period.
Half (190 million francs) is attributable to acquisitions. As a result of lower employee benefit expense, staff
costs increased by just 7 million francs despite the acquisitions. The reason for the lower employee benefit
expense was the amount (350 million francs) transferred to the pension from the profit for 2005. Resale
merchandise and service expenses and expenses for financial services rose by 269 million francs year on year.
The reasons for this are higher resale merchandise expenses and the commission business with Procter& Gamble.
The generally higher interest rate level impacted on expenses for financial services. Other operating expenses
rose by 97 million francs as a result of acquisitions and customs business. Depreciation and amortization
expense changed only slightly, up 5 million francs on the previous year to 257 million francs. The
investments for the new letter centres as part of the REMA project will also lead to higher depreciation and
amortization expense in future.
1000
1000
87
823
805