CTT - Correios De Portugal, S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 04, 2022 at 06:17 am EDT
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CTT - Correios De Portugal, S.A. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was EUR 185.07 million compared to EUR 176.29 million a year ago. Revenue was EUR 216.36 million compared to EUR 200.1 million a year ago. Net income was EUR 13.76 million compared to EUR 9.12 million a year ago. Basic earnings per share from continuing operations was EUR 0.09 compared to EUR 0.06 a year ago.
For the nine months, sales was EUR 579.31 million compared to EUR 548.49 million a year ago. Revenue was EUR 662.79 million compared to EUR 612.89 million a year ago. Net income was EUR 28.31 million compared to EUR 26.31 million a year ago. Basic earnings per share from continuing operations was EUR 0.19 compared to EUR 0.18 a year ago. Diluted earnings per share from continuing operations was EUR 0.19 compared to EUR 0.18 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. 
