The risks that impacted the company in the past have now been eliminated, according to a statement from Liechtensteinische Post AG on its 2017 annual results. Although the figures show that Liechtenstein’s postal agency experienced a 1.3 per cent decline in sales over the past financial year, various efficiency measures resulted in a profit of 2.23 million Swiss francs. In recent years, Liechtensteinische Post saw a significant decline in sales and was unprofitable.
According to its annual report, 24.32 million Swiss francs from net sales of 41.52 million francs could be attributed to universal service. In 2016 this figure was 25.10 million francs, and therefore experienced the largest decline in the past year. Revenues from PostFinance fell from 2.0 million francs to 1.73 million francs, while philately remained largely stable at 4.0 million francs after a difficult 2016.
Logistics revenues, by contrast, rose from 3.81 million francs to 4.11 million francs in the past year, while other services rose from 7.13 million francs to 7.35 million francs. Liechtenstein’s postal agency employed 284 people at the end of 2017, compared with 297 the previous year.
Despite solid business results, “fundamental challenges” remain, particularly in the area of basic services. Sales in the letter mail segment also continued to decline in the past financial year, as did sales in the parcel business. The company estimates that this trend will continue in the current year.
Liechtensteinische Post AG was able to transfer a repayment of 2 million franc to Swiss Post AG in the past financial year, and it now owes the Swiss postal agency an outstanding 2 million francs. But if liabilities are offset against liquid assets, the Liechtenstein postal agency is considered debt-free. The company’s equity ratio rose by 14.2 percentage points year-on-year to 44.3 per cent at the end of 2017.