Swiss Post against the trend
Swiss Post is clearly in the black in 2020, but does not benefit from the parcel boom as much as other postal organisations in Europe. Revenue fell significantly year-on-year from CHF 450 million to CHF 272 million (-40%), which was partly due to the decline in letter volumes and the impact of negative interest rates at its Post Finance subsidiary. Swiss Post generated a profit of CHF 178 million, CHF 77 million less than in 2019.
Despite the parcel boom, additional protective measures and the recruitment of more staff combined with fewer customers being served at post office counters and fewer passengers travelling by Post Auto took their toll. Swiss Post assesses the impact of the pandemic as follows: "The corona crisis had a negative effect of CHF 139 million on the group result."
23% more parcels than last year led to a very good operating result for Post Logistics (CHF 201 million, or CHF 73 million above 2019). The company is putting major reforms in place because "the large parcel volumes cannot compensate for the negative impact of the corona crisis on all other areas of Swiss Post." (sh)