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

Q1 2023 CTT Correios de Portugal SA Earnings Call Transcript

May 05, 2023 / 08:00AM GMT
Release Date Price: $5.61
Operator

Hello, and welcome to the CTT First Quarter 2023 Results. My name is Caroline. I'll be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions)

I would now hand over the call to your host, Mr. Joao Bento, the CEO; and Guy Pacheco, the CFO, 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, Caroline. Good morning, everyone. Welcome to our first quarter results webcast. Today, we are also including an update on our real estate portfolio optimization, as you've seen in the presentation that was distributed yesterday.

So if you follow me, starting on Slide #4. The overall impression we like to start is that we have a very robust operational performance in Portugal and the strong cash flow -- free cash flow generation in the quarter. And this was a result of several factors, of which I would highlight on Parcels. Strong growth of volumes in Portugal, reaching almost 15% year-on-year

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