CTT Correios de Portugal S A : Conclusion of the acquisition of NewSpring Services, S.A.
August 30, 2021 at 01:52 pm EDT
Share
CTT - Correios de Portugal, S.A.
Public Company Avenida D. João II, 13 1999-001 LISBON
Lisbon commercial registry and fiscal no. 500 077 568
Share Capital EUR 75,000,000.00
Announcement - Lisbon, 30 August 2021
Material information
CTT - Correios de Portugal, S.A. ("CTT" or "Company") hereby informs that on this date it has concluded the acquisition of the total share capital of NewSpring Services, S.A. ("NewSpring Services") and its holding HCCM - Outsourcing Investment, S.A. ("HCCM - Outsourcing Investment"), companies operating in the Business Process Outsourcing (BPO) and Contact Center market, for an amount of 7 million Euros (Enterprise Value), which was paid out at the closing of the transaction.
This transaction is part of CTT's Business Solutions platform consolidation strategy by improving the offer of BPO solutions, Contact Center and other business support services. With this acquisition, CTT strengthens its skills and capacities in Business Solutions, which will allow it to (1) seize the integrated offering growth opportunity in this business segment and (2) reduce its dependence on external partnerships and optimize resources by insourcing activities that are increasingly core to this business area.
Finally, it is hereby recalled that earnouts were agreed, depending on the company's activity over the
years following the closing date, based on the achievement of pre-defined objectives for NewSpring Services, including EBITDA targets. In 2020, NewSpring Services reported sales of 21.1 million Euros and EBITDA of 2.4 million Euros 1.
This information to the market and the general public is made under the terms and for the purposes of article 248-A 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 Teiga Vieira
Head of Investor Relations of CTT
Contacts:
Email: investors@ctt.pt I Fax: + 351 210 471 996 I Phone: + 351 210 471 087
Excluding depreciation, amortization, and specific items.
CTT – Correios de Portugal SA published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 17:51:09 UTC.
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. 
