CTT-Correios de Portugal SA (OTCPK:CTTOF)
$ 4.67 0 (0%) Market Cap: 650.30 Mil Enterprise Value: -1.53 Bil PE Ratio: 12.12 PB Ratio: 2.59 GF Score: 84/100

Q3 2023 CTT Correios de Portugal SA Earnings Call Transcript

Nov 03, 2023 / 09:00AM GMT
Release Date Price: $3.6
Operator

Hello, and welcome to the CTT 9M 2023 Results Conference. My name is Karen, and I will be your coordinator for today's event. Please note, this conference is being recorded. (Operator Instructions)

I will now hand you over to your host, Joao Bento, to begin today's conference. Thank you.

JoÃ;o Afonso Ramalho Sopas Pereira Bento
CTT - Correios De Portugal, S.A. - CEO & Executive Director

£ -

Thank you, Karen. Good morning, everyone. Welcome to the 9 months CTT results presentation. We are reporting yet again a strong revenue -- sorry, a strong quarter.

If you follow me on Slide #4. Mostly on E&P and Banco CTT, coupled with a solid cash flow performance. So starting with Parcels within E&P, we had in Portugal a significant growth volume and there we have now actually in the volumes ahead of fixed season and ready for a great peak season. While in Spain, we had very strong growth, both in large clients and in smaller clients, which is something that is also noticeable.

Moving to Mail. This was a quarter with

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