Ctt - Correios De Portugal Sa · EURONEXT:CTT
Ctt - Correios De Portugal Sa — CTT – Correios de Portugal — H1 2026 Earnings Presentation
23 slides from Ctt - Correios De Portugal Sa's earnings presentation, Jul 28, 2026
Slide 1: 1H26 Results Presentation
1H26 RESULTS PRESENTATION 28 JULY 2026 1
Slide 2: Disclaimer
Disclaimer DISCLAIMER FORWARD-LOOKING STATEMENTS This document has been prepared by CTT – Correios de Portugal, S.A. (the “Company” or “CTT”) exclusively for This presentation contains forward-looking statements. All the statements herein which are not historical use during the presentation 1H26 res
Slide 3: Operational Review
Operational Review 1H26 RESULTS PRESENTATION 3 3
Slide 4: Core business, CEP and Mail & Services, continues to perform strongly
Core business, CEP and Mail & Services, continues to perform strongly… Overview Revenues1,2 Recurring EBIT1,2 CEP Non-CEP € million; % change y.o.y. € million; % change y.o.y. +6.3% 20.2 2.6 345.0 26.5 -2.5 -8.4% 324.7 28.0 +11.7% 0.5 -6.3 1.32 2.6 15.92 25.7 -3.8% -5.1 -0.4 -4.5 308.7 26.7 2Q25 PF
Slide 5: Accelerated growth of e-commerce volumes and client diversification
Accelerated growth of e-commerce volumes and client diversification e-commerce Solutions E-commerce Solutions Volumes Client segmentation Million items Million items; % 24.4% 15.0% 20.7% 11.3% 8.9% 14.3% +20.7% 8.0% 48.5 44.1 ∆ weight 44.1 38.2 39.6 36.5 36.5 -7.3pp 34.7 Crossborder (non-EU) Tier-1
Slide 6: Solid CEP revenue growth, above that of volumes, which is accelerating
Solid CEP revenue growth, above that of volumes, which is accelerating e-commerce Solutions CEP Revenues1,2 Rec. EBIT CEP1,2,3 Key programs to deal with volatility of CEP € million; % change y.o.y. million; % change y.o.y. volumes Margin, restated +21.2% 151.4 7.7% 6.7% Optimisation of linehaul 124.
Slide 7: Early results validate that JV with DHL will generate significant synergies
Early results validate that JV with DHL will generate significant synergies… e-commerce Solutions Sources Key initiatives Phasing €m €17.5m Recurring EBIT synergies • Cross-sell outbound logistics through 2026 10% <5% integrated commercial offering • Leverage DHL salesforce for Iberian inbound Reven
Slide 8: Customs clearance activity remains under pressure
Customs clearance activity remains under pressure e-commerce Solutions Proforma Cacesa2 Reported Non-CEP Revenues1,2 Non-CEP Rec. EBIT1,2 € million; % change y.o.y. million; % change y.o.y. Under a challenging regulatory context that is leading to volatility -5.0% -18.3% across the industry, Cacesa
Slide 9: Cacesa has been heavily penalised by regulatory changes
Cacesa has been heavily penalised by regulatory changes… e-commerce Solutions Regulatory changes Impacts on Cacesa volumes ‘000,000 kg Major shifts in customs clearance regulations • G4 Regulation (Spain): March 2026 transition to multiple transit documents per shipment increased customs clearance c
Slide 10: e-commerce Solutions under pressure from customs clearance activity
e-commerce Solutions under pressure from customs clearance activity… e-commerce Solutions e-commerce Solutions | Revenues1,2 Proforma Cacesa & DHL Parcel e-commerce Solutions | Recurring EBIT1,2 Portugal2 € million; % change y.o.y. € million; % change y.o.y. Reported 9.7% Margin, restated 6.0% +12.7
Slide 11: Placements of savings certificates up on higher limits and attractive rates
Placements of savings certificates up on higher limits and attractive rates… Mail & Services Public debt placements Healthcare plans Monthly average # thousand users € million +13% +90% 55.8 +40.0% 564 547 49.2 390 +60% Ø 434.4 385 378 341 25.8 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2024 2025 2Q26 … while ne
Slide 12: Flattish addressed mail revs and accelerating business services & payments
Flattish addressed mail revs and accelerating business services & payments… Mail & Services Mail & Services | Revenues Mail & Services | Recurring EBIT € million; % change y.o.y. € million; % change y.o.y.; % margin Addressed mail volumes (in Strong growth of recurring EBIT, y.o.y. Margin million ob
Slide 13: Sequential business volume growth remains a key revenue driver
Sequential business volume growth remains a key revenue driver… Banco CTT BCTT Business volumes BCTT banking revenues BCTT Recurring EBIT € million; % change y.o.y. € million; % change y.o.y. € million; % change y.o.y. Current Accounts1: y.o.y. NIM3: ROTE4: 693.9 698.82 +0.7%2 2.2% 2.2% 12.7% 12.1%
Slide 14: Financial Review
Financial Review 1H26 RESULTS PRESENTATION 14 14
Slide 15: Strong revenue growth and cash generation despite customs headwinds
Strong revenue growth and cash generation despite customs headwinds Financial Review Key financial indicators € million; % change vs. prior year Quarter Semester 2Q25 2Q26 y.o.y. 1H25 1H26 y.o.y. Revenues1 308.7 345.0 +11.7% 597.3 674.3 +12.9% Operating costs - EBITDA2 261.9 297.6 +13.6% 510.6 590.3
Slide 16: Revenue growth pulled by a solid performance of mail and CEP
Revenue growth pulled by a solid performance of mail and CEP Financial Review Revenues1 Revenue1 breakdown € million; %y.o.y. € million; %y.o.y.; % of total CEP Non-CEP +6.3% 1H26 20.2 2.6 345.0 % of total 26.5 -2.5 11.0% e-commerce 324.7 Solutions +11.7% 343.6 (+29.6%) -6.3 51.0% 15.9 Mail & 308.7
Slide 17: Evolution of costs driven mainly by activity, mix in CEP and fuel inflation
Evolution of costs driven mainly by activity, mix in CEP and fuel inflation Financial Review Operating costs1 € million; % change vs. prior year +7.6% CEP Non-CEP 24.8 3.0 319.3 26.0 -5.1 -21.7 296.6 297.6 -1.2 +13.2% 282.0 14.6 20.1 261.9 2Q25 Op. 2Q25 D&A 2Q25 Op. CACESA 2Q25 Op. ∆ e- ∆ Mail & ∆ B
Slide 18: Solid EBIT performance in Mail & Services and CEP
Solid EBIT performance in Mail & Services and CEP Financial Review Recurring EBIT1 Recurring EBIT1 breakdown € million; % change vs. prior year € million; % change vs. prior year; % of total Margin: 8.6% 8.6% 7.4% CEP Non-CEP 1H26 -8.4% 28.0 0.5 % of 26.7 1.3 2.6 total 25.7 25.5% e-commerce -3.8% -5
Slide 19: Leverage ratio at 1.8x provides significant strategic flexibility
Leverage ratio at 1.8x provides significant strategic flexibility Financial Review 1H26 Cash flow Evolution of net debt EBITDA and leverage € million; with Banco CTT under equity method € million; with Banco CTT under equity method € million; with Banco CTT under equity method impact on cash flow vs
Slide 20: Outlook & Final Remarks
Outlook & Final Remarks 1H26 RESULTS PRESENTATION 20 20
Slide 21: Strong core business underpins growth despite temporary customs volatility
Strong core business underpins growth despite temporary customs volatility Outlook & Final Remarks 2026 guidance e-commerce Solutions, non-CEP Mail & Services Guidance considerations €m e-commerce Solutions, CEP Banco CTT Main risks & expectations Key risks to 2026 guidance • Cacesa’s cleared volume
Slide 22: We will deliver future growth by building on our strategic foundations
We will deliver future growth by building on our strategic foundations Outlook & Final Remarks 2Q26 Review & Outlook – Core business stays healthy • Core CEP and Mail & Services remain healthy: excellent trading momentum in Mail & Services; CEP volumes remained strong in 1H26 and are expected to gro
Slide 23: Investor Relations
Investor Relations Phone: +351 210 471 087 E-mail: investors@ctt.pt ctt.pt 1H26 RESULTS PRESENTATION 28 JULY 2026 23 23
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