Swiss Post generated a lower result in the first quarter of 2020 than in the prior-year period. Group profit fell by 46 million, while operating profit came in at 57 million francs below the comparable figure for 2019. The financial consequences of the coronavirus pandemic were already evident in the first three months and are likely to have a significant impact on Swiss Post’s annual result. The extraordinary situation has accelerated relevant developments and shows just how important Swiss Post is to Switzerland – especially in terms of logistics. It is vital that Swiss Post continues to drive forward its transformation to overcome its major, longstanding challenges.
In the first quarter of 2020, Swiss Post generated Group profit of 84 million francs, 46 million francs down on the previous year’s figure. Operating profit (EBIT) for the first quarter came in at 115 million francs, 57 million less than in 2019. The decline in profit is attributable to two main factors: the continued low-interest situation and consequent low net interest income (–18 million francs) at PostFinance and the decline in volumes in the letter business (–5.6 percent) in addressed letters. Parcel volumes rose by 10 percent over the entire first quarter compared to the prior-year period. The rise in orders on online retail sites due to the coronavirus pandemic was clearly evident. In March alone, 16.9 percent more parcels were processed than a year ago.