Liechtenstein’s postal service is debt free again
Liechtensteinische Post AG has managed to maintain stable sales in financial year 2018. However, a year-on-year improvement in profit was achieved against 2017. As a result, it has been able to pay off a loan from the Swiss Post.
Liechtensteinische Post AG reported in a press release that it generated net sales of 41.68 million Swiss francs in financial year 2018. Sales of 41.52 million francs had been posted in the previous financial year. In the reporting year, a decline in letter business was to some extent offset by growth in parcel business. Additional revenue in the parcel, letter and logistics businesses together made up for the decline in income in the areas of stamps and payment transactions, the Post reports.
Operating income (EBIT) amounted to 3.13 million francs in the reporting year, up from 2.29 million francs in the year before. Profit of 3.04 million franc was reported, which is an improvement on the 2.23 million francs in 2017. Liechtensteinische Post AG reveals that this positive result enabled it to already repay in full the loan from Swiss Post AG at the end of September 2018, which had been taken out to fund the state pension fund. In addition, equity capital was topped up from 7.81 million francs to 10.85 million francs. When compared with the previous year, the equity ratio has increased from 44.3 percent to 55.8 percent.