Service-oriented - Die Schweizerische Post

88 Annual Report | Financial Report | Financial commentary
Operating results of the segments
In 2006, Swiss Post achieved an operating result of 823 million francs and an operating profit margin of
10.4 percent (2005: 805 million francs and 10.7 percent). Over two thirds of the result was generated by the
Mail, Logistics and Financial Services segments. The New Businesses segment contributed just 1.3 percent.
Mail
2006
29.0 %
Logistics Services 10.6 %
Financial Services 29.8 %
Passenger Transport 3.4 %
International 7.1 %
Post Office Network 2.3 %
New Business 1.3 %
Other 16.5 %
Reconciliation of operating result
2005
27.1 %
10.8 %
38.8 %
3.6 %
4.3 %
3.4 %
0.6 %
11.4 %
The reconciliation of the operating result, using the changes in income and expense, confirms the increasing
competition in the market environment and the pressure to become more competitive. Thus, Swiss Post was
only able to exceed the prior­year result due to lower employee benefit expense, income from real estate and
acquisitions.
CHF m 2005 Logistics Financial Other Total Employee Real estate Income from 2006
income inome income expenses benefits income acquisitions 1
1000
900
800
700
600
500
400
300
200
100
0
805
88
823
20
72
20
7
Factor
259 70
1 The reconciliation of the operating result includes effects arising from company purchases under “Income from acquisitions“
Under the Federal Council’s strategic objectives, Swiss Post is expected to generate an adequate profit. In
this context, Swiss Post is compared with European postal companies. It is important to bear in mind that
comparisons of this kind are of only limited use, as postal companies in Europe do not operate in exactly the
same fields and markets. At the time of preparing the Financial Report, data for 2006 were available for Swiss
Post, TPG in the Netherlands, German company DPWN and Royal Mail (UK). Sales growth at the aforementioned
postal companies varied considerably, mainly as a result of acquisition activity. In 2006, Swiss Post once
again achieved above­average profitability and by far exceeded the prior­year growth rate.