Market Closed -
Euronext Lisbonne
11:35:20 2024-04-26 am EDT
5-day change
1st Jan Change
4.465
EUR
+0.45%
-0.11%
+27.94%
CTT Correios de Portugal S A : Results presentation – Full Year 2023
March 19, 2024 at 02:40 pm EDT
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
•
•
•
•
•
•
•
•
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%
▪
▪
▪
▪
▪
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., 2023 Earnings Call, Mar 20, 2024
Mar. 20
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Full Year Ended December 31, 2023
Mar. 19
CI
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
Mar. 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.
Dec. 10
CI
Transcript : CTT - Correios De Portugal, S.A., Nine Months 2023 Earnings Call, Nov 03, 2023
Nov. 03
CTT - Correios De Portugal, S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
Nov. 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
Transcript : CTT - Correios De Portugal, S.A. - Analyst/Investor Day
22-06-23
Transcript : CTT - Correios De Portugal, S.A., Q1 2022 Earnings Call, May 06, 2022
22-05-06
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
4.465
EUR
Average target price
5.54
EUR
Spread / Average Target
+24.08%
Consensus
1st Jan change
Capi.
+27.94% 665M -10.05% 24.29B +1.55% 17.39B +14.84% 16.32B +28.97% 7.53B +14.93% 2.34B +18.49% 1.92B -4.14% 1.17B -6.32% 735M -24.42% 478M
Courier Services
+951% of historical
More than 20 years
Our Experts
OUR EXPERTS ARE HERE FOR YOU
Monday - Friday 9am-12pm / 2pm-6pm GMT + 1
CTT-CORREIOS DE PORTUGAL, S.A. 
