In 2020, Swiss Post generated Group profit of 178 million francs, down 77 million francs year-on-year. At 272 million francs, operating profit (EBIT) was down 178 million francs. Coronavirus has been a major challenge for Swiss Post in all units. In the face of the diversity and scale of this challenge, Swiss Post management is satisfied with the result. The pandemic clearly shows that Swiss Post’s new strategy is both important and correct. Swiss Post must invest and act sustainably now to ensure that it can continue to guarantee the universal service from its own resources in the future.
As expected, Swiss Post’s Group profit and operating profit were significantly lower in 2020 than in the previous year. Profit totalled 178 million francs, down 77 million francs on the previous year. Operating profit decreased from 450 million francs year-on-year, falling to 272 million francs. The decline was due partly to trends that were already in place, such as the fall in letter volumes and the negative interest rate situation at PostFinance. In addition, the coronavirus pandemic has exacerbated some of these trends and brought new challenges for all of Swiss Post’s units and markets: a veritable parcel boom on the one hand, but additional protective measures and staff, fewer letters and fewer over-the-counter transactions at Swiss Post branches on the other. At PostBus, the number of passengers fell considerably, even as PostBus maintained a basic service for the public. Overall, the effects of the coronavirus pandemic have reduced the Group result by 139 million francs. “The pandemic was a major challenge for all of our employees and for the entire Swiss Post management. For example, we processed an unprecedented volume of parcels under difficult conditions and delivered them reliably to all corners of Switzerland. Given the variety of major challenges we faced due to coronavirus, we can be satisfied with last year’s result on balance, despite the fact that it is poorer than in previous years,” says Roberto Cirillo, CEO of Swiss Post. Within this context, the annual result was expected, but it also represents a strong performance.