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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Q1 2021 CTT Correios de Portugal SA Earnings Call Transcript

May 07, 2021 / 08:00AM GMT
Release Date Price: $5.91
Operator

Good day, and thank you for standing by. Welcome to the CTT First Quarter 2021 Results Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your presenter today, João Bento, CEO. Please go ahead.

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

£ -

Good morning, everybody. Welcome to our first quarter results presentation, 2021. It's been a good quarter with the record revenues growth for the quarter. Actually, we just noticed that it is the highest revenues in the first quarter since CTT started reporting quarterly back in 2014.

Revenues grew 14.1% in the quarter and drove a substantial expansion in EBIT. This behavior in revenues is mostly driven by record revenues in Express & Parcels, both in Portugal and in Spain, with a 70% growth sustained by a strong boost from e-commerce.

But not only Parcels performed extremely well, we've also been able to sustain a

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