Swiss Post expects a ‘significant’ decline in profits

Swiss Post expects a "significant" decline in profits Keystone-SDA

According to interim CEO Alex Glanzmann, Swiss Post is expecting a significant drop in profits compared to last year.

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“We are expecting a low three-digit million figure”, said Glanzmann in an interview with Swiss German-language newspaper SonntagsBlick.

Swiss Post generated a Group profit of CHF324 million in 2024 ($407 million). It thus increased its result by CHF70 million compared to the previous year, as announced in March.

When it published its half-year figures in August, Swiss Post had to announce a fall in profit. The operating result fell by 29% in the first half of 2025 to CHF118 million. Profit fell by 44% cent to CHF74 million.

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The main reasons for the half-year results were the continuing decline in letter volumes, newspapers and over-the-counter business as well as rising costs, it was reported in the summer. The utilisation of PostBus and the parcel market changed positively during this period.

Parcels do not compensate for letters

“The problem is that the shrinking letter business cannot be compensated for by parcels,” said Glanzmann. Today, 1.6 billion letters are sent, but only 180 million parcels. The situation regarding margins is different.

Activities that are detached from the core business are therefore important for Swiss Post in order to avoid becoming a “shrinking cost organisation,” said Glanzmann. Currently, 85% of turnover is generated in free competition. Under the same rules as for everyone else, he emphasised. “Around 15% still comes from a monopoly,” said the interim head of Swiss Post.

There has recently been political resistance to activities in free competition. In the opinion of the parliament’s economic commission, Swiss Post should not be allowed to compete excessively with private companies.

The Swiss government also wants guard rails in this respect and is planning a comprehensive postal reform. However, it also wants to be able to react to the basic service – for example, if the demand for letter post continues to fall. The consultation on this is not due to begin until June 2026.

Translated from German by DeepL/ds

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