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In 2020, Swiss Post generated a consolidated profit of 178 million francs. That is 77 million francs less than the previous year. Operating profit (EBIT) was CHF 178 million lower than CHF 272 million.
However, Corona is only partly to blame: the effects of the pandemic loaded the result with a total of 139 million francs. The reasons for the decrease are also trends such as the decrease in the volume of letters and the negative interest situation at Postfinance.
The result had become evident
The negative evolution was already evident in the provisional results of the end of September. At that time, the Post reported a consolidated profit of 136 million francs, 127 million francs less than the previous year.
The yellow giant was concerned about dwindling mail and over-the-counter payments. Postfinance’s interest income also fell again. This trend intensified with the Crown crisis. At the same time, crown-related growth in parcel volumes could not offset the negative effects in the other business areas.
Schwaller takes off his hat at the end of the year
The Chairman of the Board of Directors, Urs Schwaller (68), has decided to surrender his position on December 1, 2021. He took over this in April 2016. His tenure in office was overshadowed by the Postbus scandal. These bugs have been consistently addressed and steps have been taken to prevent something like this from happening again. “At 68, the time has come for me personally to consciously cut back on my career,” says Schwaller.
The Federal Council will determine Schwaller’s successor and propose an election to the Board of Directors. The general assembly that decides on the matter will take place on April 27, 2021. (nd)
Published: 03/11/2021, 9:29 am
Last updated: 11.03.2021, 28 minutes ago
