Financial result 

Stable result and major challenges

In 2023, Swiss Post generated Group profit of 254 million francs. The decline in letter, parcel and payment transaction volumes as well as the effects of inflation had a major influence on the financial result. The result is in line with expectations in view of the challenging conditions.

At 323 million francs, Swiss Post’s operating profit (EBIT) in 2023 is 35 million francs down on the previous year’s figure. Group profit came in at 254 million francs, which is 41 million less than in 2022. Operating income stands at 7,279 million francs, up by 420 million francs year-on-year. The financial result is in line with expectations. It reflects inflation, subdued consumer confidence, falling letter and parcel volumes and a sharp decline in over-the-counter payments. Higher income at PostFinance due to the turnaround in interest rates and the implementation of the measures from the “Swiss Post of tomorrow” strategy helped to stabilize the financial result.

Efficiency measures in the Logistics Services unit curb decline in earnings

At 335 million francs, operating profit at the Logistics Services unit is 23 million francs below the previous year’s level. Both parcel volumes (–4.6 percent) and letter volumes (–5.6 percent) fell year-on-year. In the advertising market, which is heavily dependent on economic conditions, the volume of promotional mailings declined last year (addressed advertising: –5.3 percent, unaddressed advertising: –6.4 percent). The efficiency measures introduced in early 2023 and constant optimization of processes led to a strong result in the fourth quarter. This significantly curbed the decline in the Logistics Services unit’s result compared with 2022. To gear up for the future, Swiss Post also invested in goods and construction logistics as well as in parcel sorting facilities.

Strategic partnerships in branch network make positive contribution to result

For the first time, PostalNetwork made a positive contribution to the result through strategic partnerships with banks, insurance companies and health insurance providers. However, the decline in volumes also had a significant effect in this unit. There was a substantial fall of 18.4 percent in over-the-counter payment transactions. This means payment transactions have slumped by almost 50 percent over the past five years. Despite consistent efficiency measures, the PostalNetwork unit was unable to offset the losses. The operating result stood at –93 million francs for 2023 (2022: ‑71 million francs).

The Communication Services unit reaches major milestones

At the Communication Services Group unit, operating profit stood at –72 million francs (previous year: –72 million francs). Operating income was primarily increased through strategic acquisitions in the e-government, secure customer communication and cybersecurity sectors. The unit reached major milestones in further developing the e-voting solution, the electronic patient record and the ePost communication platform.

Slightly lower result for Mobility Services despite higher transport income

At Mobility Services (PostBus and Post Company Cars), the result for 2023 stands at 21 million francs, down 6 million francs year-on-year. Greater transport income due to an increase in passenger numbers at PostBus could not offset rising costs. Post Company Cars maintained the previous year’s result.

Turnaround in interest rates ensures better result at PostFinance

Despite a turbulent year on the national and global financial markets, PostFinance posted an operating profit of 264 million francs, which is 35 million francs higher year-on-year. After the turnaround to positive policy rates, PostFinance is making good progress from a solid position towards a gradual normalization of the overall interest margin and a growth path. The trend towards digitization is leading to a significant decline in transactions at Swiss Post branches and is increasingly weighing on PostFinance’s result in the universal service.

¹ Economic value added includes the net costs of the universal service obligation of 268 million francs.