CTT - Correios De Portugal, S.A. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
March 18, 2024
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CTT - Correios De Portugal, S.A. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was EUR 269.8 million compared to EUR 243.8 million a year ago. Net income was EUR 25 million compared to EUR 8.1 million a year ago.
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. 
