CTT Correios de Portugal S A : and Zongteng Group establish partnership to manage parcel locker network
December 06, 2021 at 03:02 pm EST
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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, 6 December 2021
Material information
CTT - Correios de Portugal, S.A. ("CTT" or "Company") hereby informs that on this date it has signed a partnership agreement with YunExpress, the logistics business unit of the Chinese company Zongteng Group, to create a joint venture that aims to manage the business of a locker network for parcel pick-up in Portugal and Spain. CTT will have a majority stake of 66% in the new company. YunExpress's stake will be 34%.
This partnership aims to develop CTT's leading network of lockers for e-commerce in Portugal, which will be open to any carriers. CTT plans to install 1,000 lockers by the end of 2022, thus offering the largest and most widespread national network of lockers that will be part of the current network of more than 2,000 CTT Pick-up Points where clients can collect their parcels.
This business will represent a joint investment of around 8 million euros over a 3-year period.
YunExpress is a CTT customer and partner, being a cross-border aggregator from Asia, with strong logistics expertise. The locker network will also be supported by a group of different national suppliers, from metal work to software, allowing greater autonomy and technological agility.
As a solution of enormous convenience for both those who sell and those who buy online, the lockers will also complement the CTT pick-up point network, with an innovative solution, strengthening CTT's differentiated positioning in the entire e-commerce value chain and reinforcing CTT's close connection with its customers.
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 Vieira
Head of Investor Relations of CTT
Contacts:
Email: investors@ctt.pt I Fax: + 351 210 471 996 I Phone: + 351 210 471 087
CTT – Correios de Portugal SA published this content on 06 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2021 20:01:06 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. 
