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 2024 CTT Correios de Portugal SA Earnings Call Transcript

May 03, 2024 / NTS GMT
Release Date Price: $8.02
Operator

Hello, and welcome to CTT's first quarter 2024 results conference call. My name is Sergey, and I will be your coordinator for today's event. Please note, this conference is being recorded. (Operator Instructions). I'll now turn the call over to Mr. João Bento, CEO. Please go ahead, sir.

JoÃ;o Bento
CTT - Correios de Portugal, S.A. - CEO, Executive Director

£ -

Thank you, Sergey. Good morning, everyone. Welcome to our first-quarter results call. If you join me on page number 4 of the presentation, I would start to call your attention the fact that we had revenue growth in all business areas except the financial services, mostly as a result of market expansion and share gains, both from parcels and the bank. In fact, the decline in financial services was more than offset in revenues, although not yet in margin, given the performance that we can see on the right-hand side.

If you follow me on express and parcels first we've had an amazing triple-digit volume growth in Spain and also double-digit growth in Portugal, that produced margin

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