Lisbon, Portugal – CTT – Correios De Portugal, S.A. recently held their Q3 2024 Earnings Call on October 30, 2024. The call was led by Joao Bento, the CEO of the company, who was joined by Joao Sousa, a board member, and Guy Pacheco, the CFO. Various conference call participants from financial institutions also took part in the discussion.

During the call, Joao Bento highlighted the company’s performance, particularly in the third quarter. He mentioned that Q3 was a transitional period leading to what they anticipate to be a strong final quarter. Bento emphasized the growth in revenues and EBIT, with a significant increase in Express & Parcels volume, setting records for the company.

In the logistics sector, Express & Parcels saw a remarkable 46% year-on-year growth, generating over €98 million. Bento also noted the improved EBIT margin of 8.7% for the quarter and expressed optimism for another successful peak season in the fourth quarter. Additionally, the Mail & Others segment showed promising results, indicating positive growth trends for CTT.

The company’s ability to adapt to changing market dynamics and capitalize on growing sectors was a focal point of the discussion. By diversifying their services and focusing on efficiency, CTT has been able to achieve impressive results amidst challenging economic conditions.

Looking ahead, CTT remains committed to innovation and strategic initiatives that will continue to drive growth and success in the future. The company’s dedication to meeting customer demands and exceeding expectations positions them well for continued expansion and profitability in the coming quarters.