As the group announced on Thursday, aftermarket sales rose 61 million to francs 5,074 billion in the third quarter of 2022. Operating profit (EBIT) increased by CHF 2 million to CHF 345 million. Group profit reached 288 million Swiss francs. This was 82 million CHF less than the previous year.
The Post cited tax effects as the reason for the drop in profits. The company was able to compensate for the low revenue of logistics, which is its main field of activity, with revenues from other group companies and subsidiaries. Sub-letter and package volumes also weighed on the result.
By the end of September, Swiss Post employees had sorted and delivered 1,279 million letters. This is a 3 percent decrease compared to the same period last year. The letter prices, which increased at the beginning of 2022, could not compensate for this decrease.
Parcel volumes also fell in the third quarter of 2022. They fell 3.6 percent and were still at 140 million at the end of September. Depressed consumer mood and failure to take pandemic measures were effective. After the pandemic, the public again shopped more from the stores.
Postfinance continues to be an important source of income. It managed to increase its operating result by CHF 46 million to CHF 218 million. Postfinance welcomes the end of negative interest rates. Long-term interest rates have increased significantly recently. Swiss Post therefore expects higher earnings again in the medium term.
(SDA)