Tranche Update on CTT - Correios De Portugal, S.A.'s Equity Buyback Plan announced on March 16, 2022.
September 09, 2022 at 01:50 am EDT
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From March 16, 2022 to September 8, 2022, the company has repurchased 6,084,999 shares, representing 4.1% for €22.36 million. With this, the company has completed the repurchase of 6,084,999 shares, representing 4.1% for €22.36 million under the buyback announced on March 16, 2022.
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. 
