CTT Correios de Portugal S A : Decision of the Supreme Administrative Court
May 07, 2024 at 05:48 pm EDT
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CTT - Correios de Portugal, S.A.
Av. dos Combatentes, 43 - 14th Floor 1643-001LISBOA
Lisbon commercial registry and fiscal no. 500 077 568
Share Capital EUR 71,957,500.00
Announcement - Lisbon, 7 May 2024
Material information
CTT - Correios de Portugal, S.A. ("CTT"), following its communication to the market of 1 October 2023, hereby informs that it has been notified of the decision of the Supreme Administrative Court to revoke the decision delivered by the Arbitration Court, which had unanimously ordered the State to pay CTT the amounts of (i) €6,785,781 as compensation for the losses resulting from the effects of the Covid-19 pandemic and (ii) €16,769,864 for the unilateral extension of the Concession Agreement in the year 2021. This decision, approved by a panel of three judges, had a dissenting opinion in relation to item (i).
This information to the market and the general public is made under the terms and for the purposes of article 29-Q of the Portuguese Securities Code and other legislation in force in Portugal. It is also available on CTT website at: https://www.ctt.pt/grupo-ctt/investidores/comunicados/index?language_id=1.
CTT - Correios de Portugal, S.A.
Guy Pacheco
Market Relations Representative of CTT
Nuno Vieira
Head of Investor Relations of CTT
Contacts:
Email: investors@ctt.pt I Phone: + 351 210 471 087
CTT – Correios de Portugal SA published this content on
07 May 2024 and is solely responsible for the information contained therein. Distributed by
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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. 
