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CTT - Correios De Portugal (CTT) investor relations material
CTT - Correios De Portugal CMD 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic transformation and business evolution
Transitioned to an integrated Iberian e-commerce logistics leader, expanding through acquisitions and partnerships, notably with DHL and Cacesa, and reorganized into three business units: E-commerce Solutions, Mail & Services, and Banco CTT.
Achieved strong financial performance, with revenue CAGR of 7-9% and recurring EBIT CAGR of 13-17% targeted for 2024-2028, and tripled equity value since 2019.
Enhanced operational efficiency and sustainability, reducing carbon emissions per parcel by 47-50%, targeting 100% fleet electrification by 2030, and increasing social impact initiatives.
Strengthened governance, employee engagement, and ESG initiatives, with a dedicated sustainability committee and increased volunteering.
Maintained disciplined capital allocation, increasing dividends, executing share buybacks, and investing in growth and innovation.
E-commerce and logistics strategy
Aims for Iberian leadership in e-commerce logistics within 3–5 years, leveraging DHL JV and Cacesa to expand cross-border and value chain coverage, with D+1 offer, 77 centers, and over 20,000 PUDO points including 1,100 lockers.
Achieved 24% revenue CAGR (2021-24) in e-commerce logistics, with best-in-class EBIT margins and high client satisfaction.
Focused on expanding out-of-home delivery, targeting 10,000 lockers and nearly 30,000 PUDO points in Iberia by 2028.
Investing in proprietary technology, automation, and digital channels to drive efficiency, customer experience, and omnichannel journeys.
Positioned to capture further e-commerce growth as Iberian online retail penetration remains below EU benchmarks, with B2C expected to outpace B2B.
Mail and services transformation
Mail volumes continue to decline structurally, but profitability is maintained through pricing, operational efficiency, and offer diversification.
Advocates for a new universal service funding model post-2028, requiring state budget contributions as user-funded models become unsustainable.
Business solutions now account for ~50% of mail & services revenue, growing over 90% per year, with a focus on digital payments, BPO, and leveraging B2B relationships.
Retail network modernization includes new concept stores, self-service technology, and a SuperAPP with over 3 million users, supporting omnichannel growth.
Targets 7%-10% annual growth in mail & services, driven by business solutions and financial services.
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