Post boss says goodbye with record year and increased dividend
Farewell gift for shareholders: After a record year, the outgoing Post boss Frank Appel is increasing the dividend for 2022 and expanding the ongoing share buyback program. For the past year, the Bonn group wants to put 1.85 (previous year: 1.80) euros per share on the table, he announced on Thursday. The existing share buyback program will be increased by one billion euros. The total volume is now up to three billion euros. But in the current year, Swiss Post has to pay tribute to rising prices and the gloomy consumer mood. Due to the continuing uncertainty about the course of the economic recovery, the EBIT forecast for 2023 includes three scenarios and is in a range of 6.0 to 7.0 billion euros, the group said. In addition, the collective bargaining conflict with the Verdi union could further intensify. The Federal Ministry of Economics is also working on a new postal law that could bring far-reaching changes for the Bonn-based group in Germany. In 2025, operating income (EBIT) should then increase again to more than eight billion euros. Last year, Swiss Post still benefited from the parcel boom and increased freight rates. Earnings before interest and taxes (EBIT) rose to 8.4 (previous year: eight) billion euros. The turnover of the logistics group climbed by 15.5 percent to 94.4 billion euros for the year as a whole. Read more about it here: