La Poste saw its consolidated profit melt by more than a third in 2022, to 295 million francs. Rising prices, the end of negative interest rates, the fall in the volume of parcels and mail (-4% in both cases) weighed.
Given the difficult context, the general manager of La Poste Roberto Cirillo said he was “satisfied” with the result on Thursday in Bern: “La Poste has overcome a very demanding year well. Due to the volatile nature of the economic and global situation, we we were strongly solicited in 2022 both at the level of the staff (…) and of the management”, he noted.
In detail, both operating profit (Ebit) and consolidated profit fell by 157 million over one year, to reach 358 and 295 million francs respectively.
La Poste was able to generate a positive cash flow which strengthens its balance sheet. It says it is ready to face the challenges that arise in 2023. Discussions on tariff adjustments will take place with the price monitor in 2024.
ats/ebz
Published Amended
PostFinance also suffers
Postfinance had a difficult 2022 financial year, marked by a decline in revenue from interest-bearing operations. Affected in its core business by the end of negative rates, the financial arm of the Post Office saw its operating profit plunge by nearly 16% to 229 million francs.
Revenues fell by 3.6% to 1.57 billion francs (-43 million), said Thursday the subsidiary of the yellow giant, one of the five Swiss establishments presenting a systemic risk. Main source of income, interest operations generated a decline in profit of 45 million.
“The removal of negative interest rates weighed significantly more in the balance than the higher income from financial investments,” Postfinance said in a statement.
