CTT - Correios De Portugal, S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 10:45 am EDT
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CTT - Correios De Portugal, S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was EUR 205.63 million compared to EUR 184.65 million a year ago. Revenue was EUR 238.61 million compared to EUR 211.68 million a year ago. Net income was EUR 9.91 million compared to EUR 9.16 million a year ago. Basic earnings per share from continuing operations was EUR 0.07 compared to EUR 0.06 a year ago.
For the six months, sales was EUR 415.82 million compared to EUR 394.23 million a year ago. Revenue was EUR 480.4 million compared to EUR 446.43 million a year ago. Net income was EUR 26.05 million compared to EUR 14.55 million a year ago. Basic earnings per share from continuing operations was EUR 0.18 compared to EUR 0.1 a year ago. Diluted earnings per share from continuing operations was EUR 0.18 compared to EUR 0.1 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. 
