Swiss Post profit falls by CHF35 million 

Largely due to a drop in letter and parcel volumes, Swiss Post’s group profit fell from CHF295 million ($335 million) in 2022 to CHF254 million last year. The Swiss Post branch PostalNetwork also recorded further losses due to the decline in transactions at post office counters. Inflation, depressed consumer confidence and the decline in core business also played a role, as was reported to the media in Bern on Thursday. At CHF323 million, operating profit (EBIT) was CHF35 million lower than the previous year. Operating revenue in 2023 totalled CHF7,279 million (2022: CHF6,859 million), in line with expectations. Fewer parcels and letters In Swiss Post’s Logistics Services division, earnings before interest and tax fell by CHF23 million to CHF335 million. Despite declining parcel volumes (down 4.6% compared to 2022), growth is expected here in the long term. Swiss Post customers are sending around 70% more parcels than ten years ago, which led to the organisation opening new parcel ...