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    CTT   PTCTT0AM0001

CTT-CORREIOS DE PORTUGAL, S.A.

(CTT)
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Results Presentation – 9 months 2021 (Appendix)

11/04/2021 | 03:07pm EST

9M21

Results Presentation

Committed to deliver

Appendix

4 November 2021

2

Disclaimer

DISCLAIMER

This document has been prepared by CTT - Correios de Portugal, S.A. (the "Company" or "CTT") exclusively for use during the presentation of the 9M21 results. As a consequence thereof, this document may not be disclosed or published, nor used by any other person or entity, for any other reason or purpose without the express and prior written consent of CTT. This document (i) may contain summarised information and be subject to amendments and supplements, and (ii) the information contained herein has not been verified, reviewed nor audited by any of the Company's advisors or auditors.

Except as required by applicable law, CTT does not undertake any obligation to publicly update or revise any of the information contained in this document. Consequently, the Company does not assume liability for this document if it is used for a purpose other than the above. No express or implied representation, warranty or undertaking is made as to, and no reliance shall be placed on, the accuracy, completeness or correctness of the information or the opinions or statements expressed herein. Neither the Company nor its subsidiaries, affiliates, directors, employees or advisors assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents. Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.

This document has an informative nature and does not constitute, nor must it be interpreted as, an offer to sell, issue, exchange or buy any financial instruments (namely any securities issued by CTT or by any of its subsidiaries or affiliates), nor a solicitation of any kind by CTT, its subsidiaries or affiliates. Distribution of this document in certain jurisdictions may be prohibited, and recipients into whose possession this document comes shall be solely responsible for informing themselves about, and observing any such restrictions. Moreover, the recipients of this document are invited and advised to consult the public information disclosed by CTT on its website (www.ctt.pt) as well as on the Portuguese Securities Market Commission's website (www.cmvm.pt). In particular, the contents of this presentation shall be read and understood in light of the financial information disclosed by CTT, through such means, which prevail in regard to any data presented in this document. By attending the meeting where this presentation is made and reading this document, you agree to be bound by the foregoing restrictions.

FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements. All the statements herein which are not historical facts, including, but not limited to, statements expressing our current opinion or, as applicable, those of our directors regarding the financial performance, the business strategy, the management plans and objectives concerning future operations and investments are forward-looking statements. Statements that include the words "expects", "estimates", "foresees", "predicts", "intends", "plans", "believes", "anticipates", "will", "targets", "may", "would", "could", "continues" and similar statements of a future or forward-looking nature identify forward-looking statements.

All forward-looking statements included herein involve known and unknown risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results, performance or achievements to differ materially from those indicated in these statements. Any forward-looking statements in this document reflect our current views concerning future events and are subject to these and other risks, uncertainties and assumptions relating to the results of our operations, growth strategy and liquidity, and the wider environment (specifically, market developments, investment opportunities and regulatory conditions).

Although CTT believes that the assumptions beyond such forward-looking statements are reasonable when made, any third parties are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of CTT, what could cause the models, objectives, plans, estimates and / or projections to be materially reviewed and / or actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.

Forward-looking statements (in particular, the objectives, estimates and projections as well as the corresponding assumptions) do neither represent a commitment regarding the models and plans to be implemented, nor are they guarantees of future performance, nor have they been reviewed by the auditors of CTT. You are cautioned not to place undue reliance on the forward-looking statements herein.

All forward-looking statements included herein speak only as at the date of this presentation. Except as required by applicable law, CTT does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Appendix

Committed to deliver

APPENDIX

Key Balance sheet details

4

30 September 2021 Balance sheet

€ million; % change vs. 31 Dec 2020

3,435

3,435

Fixed tangible

290

I

Equity

158

(+5.4%)

assets

(-1.7%)

Other assets

389

Other

279

liabilities

(+8.6%)

(+10.9%)

Employee benefits

79

II

tax credits

(-0.7%)

283

II

Employee benefits

(-0.1%)

Cash & cash

933

III

Financial debt

197

IV

  1. Fixed tangible assets

(+) Rights of use (leases)

100.1

(+) Other fixed tangible assets

189.7

(=) Fixed tangible assets

289.9

Rights of use declined €2.4m vs. Dec-20(-2.4%)

  1. Net employee benefits

(+) Employee benefits 1

282.8

(-) Employee benefits tax credit

78.7

(=) Net employee benefits

204.1

1 Of which €270mrelated to healthcare

equivalents

(+80.0%)

(ST & LT)

(-4.9%)

Financial Services

214

payables

(-12.1%)

2,304

Banco CTT financial

1,744

Banco CTT deposits &

assets & credit

(+5.6%)

other fin. liabilities

(+31.3%)

Assets

Equity & Liabilities

1 More detail in slide 27 of results presentation

  1. Adjusted cash 1

(+) Adjusted cash Banco CTT

121.7

(+) Adjusted cash CTT

16.0

(=) Adjusted cash

137.7

IV Financial debt

(+) Bank loans

84.5

(+) Lease liabilities

112.2

(=) Financial debt

196.7

APPENDIX

5

Growth in parcels in Portugal and Spain drives revenues and profitability growth

Revenues 9M21

EBITDA 1, 2

Recurring EBIT 2

Consolidated view; € million; % change vs. prior year

€ million

€ million

eliminations

+26.2%

Portugal

€99.1m (+22.0%)

Portugal &

13.8

Parcels

€86.6m (+32.8%)

10.9

6.6

Cargo

€6.3m (-27.0%)

Banking network

€3.4m (-32.4%)

Logistics

€2.3m (+35.2%)

»

Other

€0.5m (-27.0%)

1.7

+51.4%

9.7

6.4

2.3

Spain

€84.9m

(+76.1%)

Spain

Mozambique

€2.4m (+13.7%)

Total

€186.3m

(+41.7%)

-6.2

-7.3

-8.0

+73.9%

-2.6

-10.1

Volumes by region (m items)

9M19

9M20

9M21

Metric

Total

Portugal

9M21

54.0

23.9

23.1 (+29.6%)

vs. 9M20

+48.3%

+21.2%

excludingcargo

1 ExcludingSpecific items, depreciation & amortization;2 Individualcompanyviews (not consolidated)

9M19 9M20 9M21

Spain

30.1

+80.4%

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

CTT – Correios de Portugal SA published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 20:05:36 UTC.


© Publicnow 2021
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Sales 2021 831 M 942 M 942 M
Net income 2021 37,9 M 43,0 M 43,0 M
Net Debt 2021 50,0 M 56,7 M 56,7 M
P/E ratio 2021 16,6x
Yield 2021 2,06%
Capitalization 623 M 707 M 707 M
EV / Sales 2021 0,81x
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João Afonso Ramalho Sopas Pereira Bento Chief Executive Officer & Executive Director
Guy Patrick Guimarães de Goyri Pacheco Chief Financial Officer & Executive Director
Raul Catarino Galamba de Oliveira Chairman
João Miguel Gaspar da Silva Head-Operations
Maria Luísa C. F. L. de C. A. Correia Independent Non-Executive Director
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