CTT Correios de Portugal S A : Results presentation (Appendix) – Full Year 2023
March 19, 2024 at 02:48 pm EDT
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We make our path fully committed to deliver
Solid and low levered balance sheet with a consolidated net cash position
Corresponding to stock option remuneration plan;
Proforma due to Payshop transaction
Solid growth in E&P
Excluding Specific items, depreciation & amortisation;
Individual Accounts;
Excluding Specific items
Price increases and more favourable mix compensating softer volumes
Excluding Specific items, depreciation & amortisation;
Excluding Specific items
Strict ceilings on debt placements are restricting demand
Excluding Specific items, depreciation & amortisation;
Excluding Specific items
Delivering strong growth
Excluding Specific items, depreciation & amortisation;
Excluding Specific items
Balance sheet mix benefiting from higher interest rates
1 Includes 347.4 million € of debt securities/securitisation; 2 Includes 179.5 million € of tangible equity;
3 Excludes deposits from intragroup companies; 4 Cumulative, consolidated
Solid balance sheet with ample flexibility
Provisional, includes FY23 net income. CET1: Common Equity Tier 1. TCR: Total Capital Ratio. In the case of Banco CTT both ratios, as at the end of FY22 and FY23, were the same.
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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.
CTT-CORREIOS DE PORTUGAL, S.A. 
