CTT-Correios de Portugal SA (OTCPK:CTTPY)
$ 8.015 0 (0%) Market Cap: 545.66 Mil Enterprise Value: -1.60 Bil PE Ratio: 12.12 PB Ratio: 2.59 GF Score: 88/100
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Q3 2020 CTT Correios de Portugal SA Earnings Call Transcript

Nov 05, 2020 / 09:00AM GMT
Release Date Price: $5
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the CTT Third Quarter 2020 Results Conference Call. (Operator Instructions) I must advise you that this conference is being recorded today, on the 5th of November 2020. I would now like to hand the conference over to your first speaker today, Professor João Bento. Please go ahead, sir.

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

£ -

Good morning, everybody. Thank you for coming. So moving to Slide #4. The quarter was marked by a strong growth in Parcels, strong and sustained, but also a slow recovery on Mail volumes. Revenues have returned to growth despite the challenging comparison effect because we have, in this quarter, last year, the effect -- one-off effect of the elections. But still even with that, revenues returned to growth. Addressed mail volumes declined 14.2%, which is a speeding of decline resulting from the pandemic. But we had also a very strong boost from e-commerce that led to increase in Express &

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