Service-oriented - Die Schweizerische Post

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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.
Trend among European postal organizations Profitability (%) 13 12 11 10 9 8 7 6 5 4 3 2 1 0 Sales growth Annual Report | Financial Report | Financial commentary – 2 – 1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Posten Group (SE) 2005 2006 SwissPost 2005 Royal Mail (UK) 2005 La Poste (FR) 2004 2005 2006 2006 TPG (NL) 2005 2005 DPWN (DE) 2006 2006 (35.8) The financial result – the balance of financial income and expenses – remained on a par with the previous year at three million francs. Income from associates almost doubled year on year, increasing to 13 million francs. This growth was generated primarily in the International segment. Interest income and expenses for PostFinance are not included in net financial income and expense but are stated under “Operating income“ and “Operating expenses“ respectively. The taxable result from the parent’s competitive service amounted to 33 million francs in 2006. Despite the positive result, no taxes will be paid owing to the losses at the parent company for 2006 carried over from previous years. The negligible tax expense of Swiss Post Group results from competitive services outside the parent company. 89
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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
Page 39 and 40: els that benefit both parties. Comb
Page 41 and 42: “ Addressed bulk mailings are par
Page 43 and 44: PostLogistics: a clever buyer for t
Page 45 and 46: in headcount at the parent company
Page 47 and 48: The survey results confirm that emp
Page 49 and 50: post office building in Lausanne, w
Page 51 and 52: Quality management Swiss Post aims
Page 53 and 54: a new job within the company, suppo
Page 55 and 56: 15 percent compared with the refere
Page 57 and 58: tive than a salary increase and als
Page 59 and 60: Overall, Swiss Post employs more pe
Page 61 and 62: workplace and in case of addiction
Page 63 and 64: With its commitment to the Swiss Yo
Page 65 and 66: sic component and a variable perfor
Page 67 and 68: “ I’m often the only woman at m
Page 69 and 70: value (350 million francs) from 200
Page 71 and 72: Jean-Marc Eggenberger Nicola Thibau
Page 73 and 74: Hans-Peter Strodel - Head of Financ
Page 75 and 76: Corporate Governance Annual Report
Page 77 and 78: made on implementation of its strat
Page 79 and 80: Financial risks The financial risks
Page 81 and 82: 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: Group profit Operating result (befo
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 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
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Financial instruments by currency A
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32 Scope of consolidation Annual Re
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Annual Report | Financial Report |
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34 Non-current assets held for sale
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PostFinance - balance sheet CHF m A
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GRI index Annual Report | Financial
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162 Annual Report | Financial Repor
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Service-oriented - Die Schweizerische Post

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