Operating profit (EBIT) stood at 803 million francs (previous year normalized: 911 million francs). The slight increase in profit is attributable to lower financial and tax expenses. The decline in operating profit is primarily due to additional portfolio impairment charges. All four markets contributed to the solid annual result. Swiss Post continuously aligns its activities with changing customer requirements, investing 443 million francs in the past year in the quality of the universal service and in trendsetting services.

In 2014, Swiss Post generated Group profit of 638 million francs, up 1.9 percent year-on-year (normalized: 626 million francs). The increase of 12 million francs was the result of the non-recurring nature of one-off tax effects in 2013. Operating profit fell by 11.9 percent to 803 million francs (previous year normalized: 911 million francs).

The drop was primarily due to non-recurring reversals of impairment and to the recognition of additional portfolio impairment charges for financial assets. Operating income fell by 118 million francs to 8,457 million francs (previous year normalized: 8,575 million francs).

The operating profit margin decreased slightly from 10.6 percent in 2013 to 9.5 percent in 2014. Total assets rose from 120,383 million francs to 124,671 million francs year-on-year. During the reporting period, Swiss Post made investments of CHF 443 million francs (previous year: 453 million francs).

At the General Meeting, the Board of Directors will propose paying a dividend of 200 million francs to the Confederation. As at 31 December 2014, equity stood at 5.0 billion francs (before appropriation of profit).

Positive contribution to result from all four markets

Swiss Post achieved positive results in all four markets. However, the trends varied from market to market. In the communication market, the three Group units PostMail, Swiss Post Solutions and Post Offices & Sales together generated an operating profit of 246 million francs (previous year normalized: 238 million francs).

At PostMail and Post Offices & Sales, the volume of addressed letters fell by 2.5 percent, while the number of unaddressed items was up 2.6 percent.

With operating income of 2,887 million francs (previous year: 2,959 million francs), PostMail is the strongest pillar in the communication market, registering operating profit of 334 million francs (previous year normalized: 324 million francs). Lower volumes led to a decrease in income, which was more than offset by the reduction in operating expenses.

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Source: Swiss Post