In the first six months of 2023, Swiss Post generated operating profit (EBIT) of 165 million francs, down 129 million francs year-on-year. Profit amounts to 118 million francs, 141 million francs below the figure for the first half of 2022. The declining volumes in letters, parcels and over-the-counter transactions continue to have an impact on Swiss Post’s result. Despite the turnaround in the first quarter, net interest income also remains below the previous year’s figure. The interim result reflects the current extremely challenging operating framework. However, Swiss Post is confident that the turnaround in interest rates and our consistent implementation of the “Swiss Post of tomorrow” strategy will have a positive impact on the result as early as 2024.
The figures for the first six months confirm that, in financial terms, 2023 is a challenging year for Swiss Post. At 165 million francs, operating profit at mid-2023 was down 129 million francs year-on-year. Commenting on these figures, Alex Glanzmann, Head of Finance at Swiss Post, says: “The result is a reflection of the challenging operating framework we face at present. As digitization continues, letter volumes and over-the-counter payments are in decline. Subdued consumer confidence means that fewer parcels and promotional mailings are being sent. Then there is the turnaround in interest rates, which, compared to the previous year, still had a negative impact on the result in the first six months. And inflation is also leaving its mark on the result, with sharp rises in costs for fuel, energy, transport, materials and salaries.” Profit fell by 141 million francs to 118 million francs. Besides the decline in earnings, a key factor here is the sale of the subsidiary Swiss Post Solutions, which had a positive impact on interim profit in the previous year. Revenue at Swiss Post rose to 3.540 billion francs. This represents a year-on-year increase of 2.3 percent, or 80 million francs.