Brief: CTT FY Net Profit Down At 36.4 Mln Euros YoY

CTT - Correios de Portugal SA

17/03/2023 06:27

March 17 (Reuters) - CTT Correios de Portugal SA
 CTT.LS :
    * FY NET PROFIT 36.4 MLN EUROS VS 38.4 MLN EUROS YR AGO
    * FY REVENUE 906.6 MLN EUROS VS 847.9 MLN EUROS YR AGO
    * FY EBITDA 129.3 MLN EUROS VS 118.1 MLN EUROS YR AGO
    * FY ADDRESSED MAIL VOLUME AT 457.6 MLN ITEMS, DOWN 5.6% VS
YR AGO
    * FY FINANCIAL SERVICES AND RETAIL REVENUE 60.7 MLN EUROS VS
48.9
MLN EUROS YR AGO
    * IN 2023 MAIL VOLUMES ARE EXPECTED TO DECLINE
MID-SINGLE-DIGIT
    * IN 2023, IN PORTUGAL, CEP VOLUMES ARE EXPECTED TO GROW BY
LOW-TO-MID SINGLE-DIGIT WITH IMPROVED REVENUE PER ITEM, WHILE IN
SPAIN, DOUBLE-DIGIT VOLUME GROWTH SHOULD BE RESUMED
    * IN 2023 FINANCIAL SERVICES ARE EXPECTED TO REGISTER A
ROBUST
GROWTH
    * IN 2023 BANCO CTT ROTE IS EXPECTED TO IMPROVE FURTHER
    * ON A CONSOLIDATED BASIS, REVENUES SHOULD GROW BY
MID-SINGLE
DIGIT WHILE RECURRING EBIT IN FY23 IS EXPECTED TO GROW AT LEAST
10%
    * BOARD OF DIRECTORS TO PROPOSE TO THE 2023 AGM THE PAYMENT
OF A
DIVIDEND OF 12.5 CENTS OF EURO/SHARE
    * BOARD OF DIRECTORS ALSO TO PROPOSE TO THE 2023 AGM, WITHIN
THE
SCOPE OF THE SHARE BUYBACK PROGRAMME INITIATED IN 2022, THE
CANCELLATION OF 1.43 MILLION OWN SHARES ACQUIRED

        
 Source text: https://bit.ly/3llMx9r
 Further company coverage:  CTT.LS  

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