Swiss Post saw profits rise and and operating income remain stable in the first half of 2015 on the previous year's levels in what it described as a 'difficult environment.'
Operating profit (EBIT) increased to CHF504 million from CHF 472 million while net profit rose to CHF 391 million compared to CHF 370 million a year earlier.
This was « principally due to solid income on the financial and investment markets – despite the ongoing low interest rate situation – as well as to good cost management, » the postal utility explained in a statement.
Operating income remained stable at CHF4,100 million, a decline of 1% on the first half of 2014 (CHF4,142 million).
Swiss Post said its different markets made varying contributions to operating profit.
EBIT in the communication market decreased to CHF137 million from CHF154 million. The decline in income at PostMail and Post Offices & Sales, caused by lower volumes, could not be offset, despite a reduction in expenses in all the units, within this market.
The decline in volumes of addressed letters decreased to 0.7% year-on-year while the volume of unaddressed items fell by 1.1%. Swiss Post Solutions’ result remained stable.
In the logistics market, Swiss Post recorded an EBIT of CHF65 million, virtually on a par with the previous year’s level (CHF66 million).
Declines in sales in small consignment transport and warehousing, combined with lower income in the fuel business, were almost fully offset by higher parcel volumes and optimization of operating expenses. Parcel volumes increased by 2.2% year-on-year.
Swiss Post's EBIT from passenger transport fell to CHF19 million compared to CHF25 million in the first half of 2014.
EBIT from its PostFinance unit, operating in the retail financial market, totaled CHF280 million compared to CHF230 million in the first half of the previous year.
Swiss Post's H1 2015 net profit included one-off items with a total net value of CHF14 million.
Looking ahead, the group said it expected the challenges resulting from the markets and technological change to grow. It would meet such challenges 'by following a strategy of long-term, gradual growth, by further optimizing costs in a socially responsible manner and by pursuing market-driven pricing policies.
'Swiss Post has no choice but to improve its profitability and achieve solid profits in all of its markets,' adding that it expects to meet the financial goals set for in 2015.
Separately, next year will see Swiss Post offer over 800 apprenticeship positions in logistics, retail, commercial roles and maintenance as well as a practically-oriented bachelor’s degree in information technology.
In addition, Swiss Post has opened its ICT Campus in Berne this summer to strengthen its IT training.
