Ctt - Correios De Portugal Sa · EURONEXT:CTT
Ctt - Correios De Portugal Sa — Ctt Correios Portgl — 1H25 Earnings Presentation
21 slides from Ctt - Correios De Portugal Sa's earnings presentation, Jul 29, 2025
Slide 1: Commitment with Purpose – 1H25 Results Presentation
28 July 2025 20 March 2025 Commitment with Purpose 1H25 Results Presentation
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 of the 1
Slide 3: Operational Review
ctt | Operational Review ts
Slide 4: Accelerating y.o.y. organic growth: revenues, +11%; recurring EBIT, +28%
Accelerating y.o.y. organic growth: revenues, +11%; recurring EBIT, +28% Overview Revenues1,2 Recurring EBIT1,2 € million; % change y.o.y. € million; % change y.o.y. +10.5% +27.8% 3.6 308.7 1.7 26.7 4.0 0.1 21.7 279.4 +18.3% 4.0 +47.4% 20.9 18.5 260.9 2.8 18.1 2Q24 CACESA 2Q24 ∆ ∆ Bank ∆ FS 2Q25 2Q2
Slide 5: Cacesa's integration is progressing well
Cacesa’s integration is progressing well Express & Parcels Cacesa at a glance Integration with CTT FY2024 233 The integration advanced across all core areas with 160 structured task tracking Revenues1 €116m EBITDA1 €21m Sales strategies unified to leverage cross-selling 2023 2024 opportunities betwe
Slide 6: Positive outlook for growth
Positive outlook for growth Express & Parcels E&P Volumes Million items Volume growth, +68.5 +41.8 +15.0 +8.0 -2.5 +9.8 +16.6 y.o.y. (%): 12.2 12.7 10.7 April May June 35.5 34.7 32.9 30.2 • Blackout in Iberia • Less 2 workdays vs. April ’24 in Spain • Easter vs. March ‘24 1Q24 2Q24 1Q25 2Q25 Followi
Slide 7: Growing E&P revenues and recurring EBIT while expanding margins
Growing E&P revenues and recurring EBIT while expanding margins Express & Parcels E&P Revenues E&P Recurring EBIT € million; % change y.o.y. Cacesa1 € million; % change y.o.y. margin Reported 8.5% 9.5% +14.4% 145.9 +28.6% 127.5 13.9 +33.8% 18.5 10.8 +72.8% 2.8 109.0 8.1 2Q24 2Q25 2Q24 2Q25 Cacesa en
Slide 8: In 2Q25, Mail revenue trend was penalised by the blackout
In 2Q25, Mail revenue trend was penalised by the blackout Mail & Other Addressed mail volumes Mail & Other Revenues Mail & Other Recurring EBIT € million € million € million May’25 Elections Margin: 1.6% 2.3% -10.5% +2.9% 99.2 115.4 118.7 88.9 8.6 -4.5% -2.2 3.2 2.7 110.2 1.8 2Q24 2Q25 2Q24 2Q25 2Q2
Slide 9: Commercial proactivity continues to underpin financial services performance
Commercial proactivity continues to underpin financial services performance Financial Services Public debt placements Healthcare plans FS | Revenues & Rec. EBIT € million # users € million 2Q24 2Q25 Subscriptions per 5.3 16.4 19.5 +49.8% WD (€ million): 38,661 +259% +64.6% 1,171 +740% 1,033 +13.4% 9
Slide 10: Reaccelerated growth of business volumes while managing the interest rate cycle
Reaccelerated growth of business volumes while managing the interest rate cycle Banco CTT BCTT Business volumes BCTT banking revenues BCTT Profit Before Tax € million € million € million Current NIM: Accounts1: ROTE2: 667.2 681.3 687.8 693.9 2.2% 2.1% 12.7% +13.0% +1.2% +1.0% +3.9% y.o.y. 35.0 5.5 5
Slide 11: Financial Review
ctt Financial Review
Slide 12: 2Q25 financials reflect organic growth and integration of Cacesa
2Q25 financials reflect organic growth and integration of Cacesa Financial Review Key financial indicators € million; % change vs. prior year Quarter Semester 2Q24 2Q25 y.o.y. 1H24 1H25 y.o.y. Revenues1 260.9 308.7 +18.3% 524.3 597.3 +13.9% 224.1 261.9 +16.8% 453.6 510.6 +12.6% Operating costs - EBI
Slide 13: E&P is the largest organic growth contributor
E&P is the largest organic growth contributor Financial Review Revenues1 Revenue1 breakdown € million; %y.o.y. € million; %y.o.y.; % of total +10.5% 1H25 3.6 308.7 4.0 3.4 % of 11.5% total 18.4 Express & 279.4 +18.3% 3.6% Parcels 45.3% 270.6 (+28.6%) 18.5 260.9 Mail & Other3 597.3 236.5 (-1.7%) (+13
Slide 14: Focus on profitability leads to controlled cost expansion, led by increased activity
Focus on profitability leads to controlled cost expansion, led by increased activity Financial Review Operating costs1 +9.1% € million; % change vs. prior year 4.0 282.0 2.5 1.8 20.1 258.5 15.3 261.9 +16.2% 242.8 15.8 18.6 224.1 2Q24 Op. 2Q24 D&A 2Q24 Op. CACESA 2Q24 Op. ∆ Express ∆ Mail & ∆ Financi
Slide 15: Profitable E&P growth
Profitable E&P growth Recurring EBIT1 Recurring EBIT1 breakdown € million; % change vs. prior year +1.7pp € million; % change vs. prior year; % of total +1.2pp, organic Margin: 6.9% 7.5% 8.6% +28.0% 1H25 1.7 0.1 26.7 0.9 % of total Express & 23.1% +2.7 20.9 3.1 +47.4% Parcels 18.1 44.7% 20.9 (+52.9%
Slide 16: Consolidated FCF reflecting seasonal payments by Banco CTT
Consolidated FCF reflecting seasonal payments by Banco CTT Financial Review 1H25 Cash flow Net financial debt as at 30 June 20251 € million; impact on cash flow vs. prior year € million EBITDA 86.7 (+15.9) Consolidated IFRS16 affecting EBITDA -21.9 (-3.4) (+) Cash & cash equivalents 296.3 Impairment
Slide 17: Strong cash-flow generation underpinning balance sheet flexibility
Strong cash-flow generation underpinning balance sheet flexibility Financial Review 1H25 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 OCF FCF Net debt EBIT
Slide 18: Outlook & Final Remarks
ctt Outlook & Final Remarks
Slide 19: 2025 recurring EBIT guidance upgraded to ">€115m"
2025 recurring EBIT guidance, with 8 months of Cacesa1, upgraded to “>€115m” Overview Operating Solid Balance sheet Inorganic Shareholder performance Cash Flow flexibility transactions remuneration • E&P’s differentiated • Operating cash-flow2 • 2.4x net debt to • Cacesa: integration is • SBB: €25m
Slide 20: Reinforced growth profile as a leading ecommerce logistics player
Reinforced growth profile as a leading ecommerce logistics player Sustainable growth, with E&P reaccelerating and improving profitability Differentiated service portfolio, reinforced with the integration of Cacesa Against a backdrop of some volatility in Mail revenues and lumpiness in Mail EBIT, we
Slide 21: Commitment with Purpose
Commitment with Purpose 1H25 Results Presentation Investor Relations Phone: +351 210 471 087 E-mail: investors@ctt.pt ctt.pt 28 July 2025