Brief: CTT: Full Impacts Of Covid-19 On FY20 Can't Currently Be Accurately And Reliably Quantified

CTT - Correios de Portugal SA

06/05/2020 17:59

May 6 (Reuters) - CTT Correios de Portugal SA  CTT.LS :
    * SAYS MAIL VOLUMES STRONGLY AFFECTED BY RESTRICTIONS ON
OPERATIONS AND MOVEMENT OF CARGO, BUSINESSES AND INDIVIDUALS
DUET TO COVID-19 PANDEMIC
    * SEVERAL LARGE CLIENTS' STATEMENTS DELIVERIES AND
ADVERTISING
MAIL CAMPAIGNS WERE DELAYED OR CANCELLED IN MAR-20
    * REGISTERED MAIL WAS AFFECTED BY DELAYS IN TAX NOTICES AND
NOTIFICATIONS FROM COURTS IN MAR-20
    * CTT SEES DOUBLE-DIGIT ADDRESSED MAIL VOLUMES DECLINE FOR
FY2020
    * SAYS REVISES CAPEX GUIDANCE DOWNWARDS TO 30 MILLION EUROS
FOR
2020 WHILE MAINTAINING INVESTMENTS IN EXPRESS & PARCELS
AUTOMATION
    * THE FULL IMPACTS OF COVID-19 ON FY 20 REVENUES AND
EARNINGS
GUIDANCE CURRENTLY CAN'T BE ACCURATELY AND RELIABLY QUANTIFIED

Source text: https://bit.ly/3ccldR4
Further company coverage:  CTT.LS 

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