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CTT Correios de Portugal S A : Results presentation – Full Year 2023
March 19, 2024 at 02:40 pm
We make our path fully committed to deliver
E&P and Banco CTT are increasing its contribution for CTT growth
Surpassed 100 million packages delivered
Portugal
Spain
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E&P became the biggest contributor for revenues and rec. EBIT in 4Q23
4Q23 FY23
1 Recurring EBIT excludes specific items;
2 Including Central Structure
Adoption of e-commerce driving record volumes in E&P Portugal
Steady and resilient growth throughout the year
E&P Spain growth accelerates in peak season
+57.4%
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High growth fueled by all client segments
1 Clients with daily volumes below 20,000 items
While expanding, the Iberian e-commerce penetration maintains significant upside
Portugal
Romania
Slovenia
Italy
France
Greece
Spain
Lithuania
Poland
Germany
Czech Republic
Belgium
Ireland
Denmark
Netherlands
Australia
US
UK
Sweden
average of top 5 excl. China and South Korea
2019
2020
2021
2022
20233
2019
2020
2021
2022
2023
1 IPC market study, source: Euromonitor International, IMF, IPC analysis; 2 Eurostat, retail sales via mail order houses or via internet;
3 Simple average of monthly growth until November 2023 as data for FY23 was not yet available
E&P Portugal with a robust margin expansion
Operational leverage delivering sustainable high margins
1 Individual accounts;
2 Recurring EBIT excludes specific items
Growth and operational leverage enabling margin expansion in E&P Spain
Swift capacity upgrades to protect quality at much higher volumes
1 Individual accounts;
2 Recurring EBIT excludes specific items
Disclaimer
CTT – Correios de Portugal SA published this content on
19 March 2024 and is solely responsible for the information contained therein. Distributed by
Public , unedited and unaltered, on
19 March 2024 18:39:10 UTC .
Transcript : CTT - Correios De Portugal, S.A., Q1 2024 Earnings Call, May 03, 2024
05-03
CTT - Correios De Portugal, S.A. Reports Earnings Results for the First Quarter Ended March 31, 2024
05-02
CI
Transcript : CTT - Correios De Portugal, S.A., 2023 Earnings Call, Mar 20, 2024
03-20
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Full Year Ended December 31, 2023
03-19
CI
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
03-18
CI
PayNest Fintech Ltd announced that it has received ?2 million in funding from BlueCrow Capital, Iberis Semper, Sociedade de Capital de Risco, S.A., Lince Capital, M4 Ventures, CTT - Correios De Portugal, S.A.
12-10
CI
Transcript : CTT - Correios De Portugal, S.A., Nine Months 2023 Earnings Call, Nov 03, 2023
11-03
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
11-03
CI
Transcript : CTT - Correios De Portugal, S.A., H1 2023 Earnings Call, Jul 28, 2023
23-07-28
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
23-07-27
CI
Brazil's postal service inks deal with Shopee to sell products to Asia
23-07-26
RE
CTT - Correios De Portugal, S.A. commences an Equity Buyback Plan for 10% of issued share capital, under the authorization approved on April 20, 2023.
23-06-29
CI
Luz Saude owner seeks over $330 mln in Lisbon IPO - sources
23-06-02
RE
Transcript : CTT - Correios De Portugal, S.A., Q1 2023 Earnings Call, May 05, 2023
23-05-05
CTT - Correios De Portugal, S.A. Reports Earnings Results for the First Quarter Ended March 31, 2023
23-05-04
CI
Transcript : CTT - Correios De Portugal, S.A., 2022 Earnings Call, Mar 17, 2023
23-03-17
Generali Partners With Portugal's CTT Group, Acquires 9% Stake In Banking Unit
22-11-07
MT
Generali strikes long-term distribution deal with Portugal's post office
22-11-07
RE
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
22-11-04
CI
Transcript : CTT - Correios De Portugal, S.A., Nine Months 2022 Earnings Call, Nov 04, 2022
22-11-04
Tranche Update on CTT - Correios De Portugal, S.A.'s Equity Buyback Plan announced on March 16, 2022.
22-09-09
CI
CTT - Correios De Portugal, S.A.'s Equity Buyback announced on March 16, 2022 has expired with 6,084,999 shares, representing 4.10% for 22.36 million.
22-09-08
CI
Transcript : CTT - Correios De Portugal, S.A., H1 2022 Earnings Call, Jul 28, 2022
22-07-28
CTT - Correios De Portugal, S.A. announces an Increase in Equity Buyback.
22-07-27
CI
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
22-07-27
CI
Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
Period Day Week
More charts
CTT-Correios de Portugal, S.A. is the Portuguese leader in postal services provision. Net sales break down by activity as follows:
- mail collection and delivery (50.4%): letters, postcards, ads, advertising documents, newspapers, etc.;
- express and parcels transportation and delivery services (40.2%): activity ensured in Portugal, Spain and Mozambique;
- sale of financial products and services (7.2%): public debt certificates, postal saving products, insurance and postal money orders;
- banking and payment services (2.2%): savings accounts, consumer credit (auto loans and credit cards), mortgage loans, off-balance sheet savings. The group also provides payment solutions (Payshop) allowing paying for purchases through the Internet and via certified agents (kiosks, tobacconists, supermarkets, etc.).
Portugal accounts for 69% of net sales.
More about the company
Last Close Price
4.37
EUR
Average target price
5.3
EUR
Spread / Average Target
+21.28%
Consensus
1st Jan change
Capi.
+25.21% 648M -6.58% 25.21B +19.76% 17.17B -2.02% 16.78B +32.14% 7.68B -0.76% 2.36B +9.54% 2.24B +18.87% 1.94B -2.31% 1.19B -19.97% 505M
Courier Services
+951% of historical performance
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