In the first three quarters of 2007, Swiss Post generated Group profit of 496 million Swiss francs. This is CHF 203 million below the year-back figure. The decline is due primarily to higher fuel prices, growth- and inflation-induced additional expenditure and value adjustments on financial investments. From today’s standpoint, Swiss Post expects its full-year result to be down on the previous year.

In the first nine months of 2008, Swiss Post generated Group profit of 496 million francs (2006: 699 million francs). This is CHF 203 million or 29% less than in 2007, which was a record year. All product-carrying Group units posted a decline. Growth- and inflation-induced additional expenditure, higher staff costs and value adjustments on financial investments were responsible for the lower profit figure. In addition, cuts in press subsidies and the parallel operation in the "Reengineering Mail" (REMA) project resulted in higher costs. PostFinance had to make writedowns totalling CHF 95 million on its financial investments. CHF 67 million of the writedowns relate to fixed-income investments and the remaining CHF 28 million to equity investments. Thanks to its risk-conscious investment strategy, the loss amounts to only around 0.2% of the total investment portfolio (see also PostFinance press release of 22 October).

Compared with the prior year, operating income rose by CHF 136 million (2.1%) to CHF 6,470 million. Over two thirds of the result are still generated by the PostMail, PostLogistics and PostFinance segments. PostFinance made a substantial contribution to this with its higher operating income – a result of the inflow of customer deposits. The investment, which was channelled primarily into the "Reengineering Mail" project, came to CHF 299 million and was financed entirely from Swiss Post's own funds. At 30 September equity amounted to CHF 2,622 million and was thus still below Swiss Post's target of CHF 3,433 million.

Key figures for the Group

Key figure	Unit	2008 1.1. - 30.9.	2007 1.1. - 30.9.	2007
Operating income	CHF million	6'470	6'334	8'712
Operating result1	CHF million	499	687	866
As % of operating income	%	7,7	10,8	9,9
Group profit	CHF million	496	699	909
Total assets	CHF million	61'859	54'863	60'084
Equity	CHF million	2'622	2'288	2'470
Investments 2	CHF million	299	404	644
Headcount at Swiss Post Group (excluding trainees)	Full-time equivalents	43'812	43'316	43'447
Headcount at Swiss Post (excluding trainees)	Full-time equivalents	33'953	33'444	33'419
Trainees at Swiss Post Group	Full-time equivalents	1'605	1'495	1'525

Segment information (1.1. - 30.9.2007)

Segment	Operating Income (CHF million)	Oretaing result (CHF million)1,2	Headcount3
PostMail4	2'202	190	14'598
PostLogistics4	1'065	46	5'130
Swiss Post International	825	29	1'112
Strategic Customers & Solutions	518	15	4'984
Post Offices & Sales4	1'244	-39	10'997
PostFinance	1'405	241	2'676
PostBus	435	27	1'516
other5	745	178	2'303
Consolidation	-2'105
Group	6'334	687	43'316

Segment information (1.1. - 30.9.2008)

Segment	Operating Income (CHF million)	Oretaing result (CHF million)1,2	Headcount3
PostMail4	2'130	155	17'573
PostLogistics4	1'116	25	5'261
Swiss Post International	776	21	1'281
Strategic Customers & Solutions	515	12	5'900
Post Offices & Sales4	950	-75	7'015
PostFinance	1'607	199	2'872
PostBus	449	22	1'561
other5	771	140	2'349
Consolidation	-1'844
Group	6'470	499	43'812

1. Previous year's figures adjusted for restatements (mergers)
2. Operating result corresponds to operating profit before consideration of non-operating financial result and taxes (EBIT)
3. Average workforce in full-time equivalents
4. The results of the PostMail, PostLogistics and Post Offices & Sales segments are shown after charging process costs relating to acceptance, transport and delivery services.
5. Includes the Real Estate, Information Technology, Service House, Corporate Purchasing, Corporate Security, Philately and central Group functions