Brief: CTT Sees High Single-Digit Revenues Growth In 2021, Resumes Dividend

CTT - Correios de Portugal SA

16/03/2021 18:17

March 16 (Reuters) - CTT Correios de Portugal SA  CTT.LS :
    * MAIL VOLUMES DECLINE ACCELERATED IN 2020 DUE TO THE
PANDEMIC,
THE TREND IS EXPECTED TO IMPROVE IN 2021
    * SAYS GIVEN THE IMPACTS OF THE PANDEMIC, COMPANY IS SEEKING
SPECIAL COMPENSATION FOR 2020
    * COMPENSATION (2020) AND REBALANCING (2021) FORMAL
PROCEDURES
HAVE ALREADY BEEN LAUNCHED
    * IMPLEMENTATION OF A NEW DISTRIBUTION MODEL IN 2021 IS
EXPECTED
TO INCREASE PRODUCTIVITY AND CARGO CAPACITY
    * CTT SAYS IN 2021 SEES HIGH SINGLE-DIGIT REVENUES GROWTH
    * BOARD OF DIRECTORS WILL PROPOSE A DIVIDEND PAYMENT OF
O.085
EUROS PER SHARE FOR 2020 FINANCIAL YEAR, PAYABLE IN MAY 2021
    * SAYS IN 2021 SEES EBIT GROWING TO ABOVE 50 MILLION EUROS
    * SEES DOUBLE-DIGIT GROWTH IN EBITDA IN 2021
    * SAYS IN 2021 SEES CAPEX OF ABOUT 35 MILLION EUROS (15
MILLION
EURO EXPANSION)


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

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