Ctt - Correios De Portugal Sa · EURONEXT:CTT
Ctt - Correios De Portugal Sa — CTT - Correios de Portugal — Non-Deal Roadshow (2024)
22 slides from Ctt - Correios De Portugal Sa's roadshow presentation, Nov 25, 2024
Slide 1: Summer Roadshow
SSS SSS Se Summer Roadshow
Slide 2: Disclaimer
Disclaimer DISCLAIMER This documenthas been prepared by CTT ~ Correios de Portugal, S.A. (the "Company" or"CTT") exclusively for use duringsummer roadshow investor meetings. As a consequence thereof, this document may not be disclosed orpublished, norused by any other person or entity, for any other
Slide 3: Equity story in brief
Equity story in brief
Slide 4: Our positioning: a company in transformation, exposed to sustained growth
Our positioning: a company in transformation, exposed to sustained growth Strategy review Leveraging strategic assets… … as a highly synergic platform • brand • shared by bank, FS, mail parcels • sales force universal access to B2B • Mail workforce delivering E&P • last-mile distribution network • I
Slide 5: E&P is increasingly contributing to topline and margin
E&P is increasingly contributing to topline and margin Strategy review 101 74 72 53 38 2019 2020 2021 2022 2023 Successful transformation with growth
Slide 6: CTT is transforming itself in a leading e-commerce logistics player in Iberia
CTT is transforming itself in a leading e-commerce logistics player in Iberia Express & Parcels Iberia is the 4th largest e-commerce CTT is the fastest growing player in Iberia market in Europe1 € billion 100% D+1 full geographical coverage >100M in Iberia 50% items per year (FY23) Spanish customers
Slide 7: Given low penetration, Iberian e-commerce market has significant potential
Given low penetration, Iberian e-commerce market has significant potential Express & Parcels Portugal Romania Slovenia average of Italy top 5 excluding France +11% outliers +13% -9% Greece China and +39% +4% Spain South Korea +7% +16% Lithuania Poland +12% Germany Czech Republic Belgium Ireland Denm
Slide 8: High quality and added services are paramount for attracting new customers in Spain
High quality and added services are paramount for attracting new customers in Spain Express & Parcels High quality and efficiency +39.4% • y.o.y in FY23 Adding new services • • • Onboarding of relevant new customers & increasing volumes from existing customers • • CTT is capturing market share 1Clie
Slide 9: Record E&P recurring EBIT margin in 2Q24
Record E&P recurring EBIT margin in 2Q24 Express & Parcels 59.0% 60.9% 36.7% 42.2% 27.9% 5.5% Growth in volumes is driving operational leverage
Slide 10: CTT is a growth company driven by rising e-commerce trend
CTT is a growth company driven by rising e-commerce trend 985 88 +7.5% +34% +7.4% 30 66 188 +33% 29 51 740 85 15 43 15 2019 Mail & Financial Banco CTT E&P 2023 2019 Mail & Financial Banco CTT E&P 2023 Other Services Other Services
Slide 11: Steady growth towards medium-term targets
Steady growth towards medium-term targets Bank
Slide 12: Improved client engagement by BCTT driving business resources
Improved client engagement by BCTT driving business resources Bank 1Retail Deposits, consolidated accounts; 2Net of impairments; 3Consolidated contribution; 4Cumulative; 5Deposits and deposit-like instruments; information from Banco de Portugal
Slide 13: Delivering strong growth
Delivering strong growth Bank 1Excluding Specific items, depreciation & amortisation; 2Excluding Specific items; 3Financial Insurance
Slide 14: Ample liquidity and strong solvency levels
Ample liquidity and strong solvency levels Bank 1Provisional, includes 1H24 net income. CET1: Common Equity Tier 1. TCR: Total Capital Ratio. In the case of Banco CTT both ratios, as at the end of FY23 and 1H24, were the same; 2Fully implemented 3CET1 requirements of 4,50% Pillar 1 + 1,69% Pillar 2
Slide 15: Portfolio transformed to embrace growth, with increasing e-commerce exposure
Portfolio transformed to embrace growth, with increasing e-commerce exposure Banco CTT E&P FS&R Mail & Other
Slide 16: Prudent gearing and high balance sheet flexibility enable significant expansion buffer
Prudent gearing and high balance sheet flexibility enable significant expansion buffer EBITDA Net Debt Net Debt/EBITDA 1Includes Payshop, which was previously part of Banco CTT
Slide 17: Capital allocation priorities
Capital allocation priorities Outook 2024-25 ✓ ✓ ✓ ✓ ✓ 1For detailed information on CTT’s Financial Policy, including its shareholder’s remuneration principles, please refer to CTT’s investor relations website and to the announcement disclosed on 23 June 2022; 2Yield calculated taking as a reference
Slide 18: To support our growth, we will continue to invest in our business
To support our growth, we will continue to invest in our business Outlook 2024-25 Key areas of investment sorting capacity Investing in IT quality of service Revamp hubs upgrade core digital channels 1Transformational includes Express & Parcels, Financial Services & Retail, Banco CTT and Business So
Slide 19: Growing revenues and EBIT towards the CMD 2025 ambition
Growing revenues and EBIT towards the CMD 2025 ambition Outlook 2024-25 12-year CAGR
Slide 20: Growing like no one in Iberian E&P
Growing like no one in Iberian E&P Outlook ✓ ✓ ✓ ✓ 1 1.8x net debt/EBITDA with Banco CTT equity accounted
Slide 21: Key Messages
Key Messages • • • • • • • • • • • • • •
Slide 22: Investor Relations
Investor Relations Phone: +351 210 471 087 E-mail: investors@ctt.pt ctt.pt
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