CTT reduces capital by €2.3 million

Portugal’s postal company CTT – Correios de Portugal announced on Tuesday a reduction of its share capital to the amount of €2,310,000.00 (€2.3 million) by offloading 4,620,000 treasury shares (4.6 million shares), representing 3.34% of its capital prior to the cancellation, and which were acquired under the treasury share buyback programme, executed from July 22, 2024 to April 17, 2025.

It means that the company’s share capital now stands at €66.9 million comprising 133.8 million shares with a nominal value of €0.50 per share.

The procedure to cancel the shares through Interbolsa and Euronext should be completed on may 14, 2025 (Wednesday) or a date close to that.

In 2024, operating income reached €1,107.3 million (+€122.1 million; +12.4% t.v.h2), reflecting a record-breaking performance from Express and Parcels (E&E), and a significant growth of Banco CTT (which had already surpassed its targets for 2025)

Logistics made €949.6 million in 2024 (+19.6% YoY), or 86% of CTT’s total revenue.

Express and Orders (E&E) reached €479.0 million, an increase of 40.6%, marked by
records in traffic (+40.9%) and revenue.

Banking and Financial Services achieved €157.6 million (-17.5% YoY). The bank also enjoyed strong growth, reaching business turnover that had already exceeded the target announced for 2025 by €7 million.

Financial Services witnessed a lower placement of public debt, despite the normalisation observed in 4Q of 2024.