In the first quarter of 2012, Swiss Post achieved a group profit of CHF 299 million, and thereby almost equalled the good result achieved in the same period last year.  Operating income saw moderate growth. The CHF 20 million drop in profit is attributable to an additional number of one-off expenditures.

In the first three months of 2012 Swiss Post generated a group profit of CHF 299 million (Q1/2011: CHF 319 million). Factors influencing the 6 per cent drop include increased personnel costs resulting from higher employee benefit obligations and one-off expenditures associated with the planned legal restructuring of Swiss Post. The logistics, retail finance and public passenger transport markets recorded slightly lower results than in the previous year, while the communications market posted an improvement thanks to a lower deficit in the post office network.

Operating income increased slightly on the previous-year quarter by 0.4 per cent to CHF 2.223 billion (Q1/2011 CHF 2.214 billion). Investments entirely financed from the Group’s own funds totalled CHF 77 million, some CHF 15 million more than in the same period last year. Based on these initial results, Swiss Post forecasts good annual results for 2012, albeit slightly down on the very good results achieved in 2011.

Key figures for the Group

Key figures for the Group	Unit	Q1 2012	Q1 2011	Full year 2011
Operating income	CHF million	2,223	2,214	8,599
Operating result11 Operating result corresponds to earnings before non-operating financial result and taxes (EBIT).	CHF million	291	318	908
% of operating income	%	13.1	14.4	10.6
Group profit	CHF million	299	319	904
Total assets	CHF million	118,584	100,962	108,254
Equity	CHF million	5,204	4,560	4,879
Investments22 Investments in tangible fixed assets, participations and intangible assets.	CHF million	77	62	429
Headcount at Swiss Post Group (excluding trainees)	FTEs33 Average workforce expressed in terms of full-time equivalents.	44,840	43,945	44,348
Trainees at Swiss Post Group	FTEs33 Average workforce expressed in terms of full-time equivalents.	2,038	1,920	1,942

1 Operating result corresponds to earnings before non-operating financial result and taxes (EBIT).
2 Investments in tangible fixed assets, participations and intangible assets.
3 Average workforce expressed in terms of full-time equivalents.

Selected key figures by segment (Group units)

31 March 2012		Operating income (CHF million)	Operating result (CHF million)1Operating result corresponds to earnings before non-operating financial result and taxes (EBIT).
Communications market		1,264	60
Communications market	PostMail	828	85
Communications market	Swiss Post Solutions	142	2
Communications market	Post Offices & Sales	442	-27
Logistics market	PostLogistics	386	40
Retail finance market	PostFinance	611	178
Public passenger transport market	PostBus22 In the field of regional public transport, PostBus is subject to the DETEC directive on the accounting of licensed companies (RKV). There are variations between RKV and IFRS.	184	10
Other33 Includes management and service units such as Real Estate, Information Technology, etc.		227	3

Selected key figures by segment (Group units)

31 March 2011		Operating income (CHF million)	Operating result (CHF million)1Operating result corresponds to earnings before non-operating financial result and taxes (EBIT).
Communications market		1,274	55
Communications market	PostMail44 The prior-year value has been adjusted to take into account the falling away of Swiss Post International with effect from 1 January 2012.	834	89
Communications market	Swiss Post Solutions	139	2
Communications market	Post Offices & Sales	445	-36
Logistics market	PostLogistics44 The prior-year value has been adjusted to take into account the falling away of Swiss Post International with effect from 1 January 2012.	374	46
Retail finance market	PostFinance	607	184
Public passenger transport market	PostBus22 In the field of regional public transport, PostBus is subject to the DETEC directive on the accounting of licensed companies (RKV). There are variations between RKV and IFRS.	177	11
Other33 Includes management and service units such as Real Estate, Information Technology, etc.		228	22

1 Operating result corresponds to earnings before non-operating financial result and taxes (EBIT).
2 In the field of regional public transport, PostBus is subject to the DETEC directive on the accounting of licensed companies (RKV). There are variations between RKV and IFRS.
3 Includes management and service units such as Real Estate, Information Technology, etc.
4 The prior-year value has been adjusted to take into account the falling away of Swiss Post International with effect from 1 January 2012.