For the 2026-28 triennium, CTT aims to “grow to achieve Iberian leadership in e-commerce logistics,” by evolving its operational model, “combining a comprehensive last-mile offer with a broader presence in the value chain to foster customer loyalty.”
To achieve the projected growth for the 2026-28 period, “CTT will intensify its core investment during this period,” as stated in a communication to the Securities Market Commission (CMVM), adding that “this investment plan will aim to expand operations and service quality through strategic investments in infrastructure, out-of-home solutions, and IT.”
Correios de Portugal maintains “the goal of paying between 35 and 50% of net income in recurring dividends.”
The company, led by João Bento, is hosting its Capital Markets Day 2025 today, during which the management team will present the strategy and objectives for the 2026-28 triennium.
CTT also confirms the guidance for this year, “reiterating the objectives for 2025 disclosed at the 2022 Capital Markets Day.”
In this context, they expect revenues between 1.1 billion euros and 1.25 billion euros and a recurring EBIT result for the fiscal year 2025, including eight months of Cacesa, which should exceed 115 million euros.
“The risk outlook remains as follows: macroeconomic and sectoral risks are relevant and persistent, including geopolitical uncertainty, inflation, energy and raw material costs, and tariff impositions affecting global trade,” CTT stated.
For the triennium, CTT, “as a leading logistics operator in e-commerce, focuses on becoming the market leader in the Iberian Peninsula” through strategic actions, including “e-commerce solutions: growing to achieve Iberian leadership in e-commerce logistics.”
To reach this goal, “we will evolve our operational model, combining a complete last-mile offer with a broader presence in the value chain to foster customer loyalty,” said CTT.
In the Mail and Services segment, they foresee “stabilizing mail, stimulating business solutions, and strengthening retail.”
In this area, “CTT will leverage mail prices while preparing for the next universal service contract and will reduce costs through operational efficiencies, capitalizing on current commercial and network capabilities (B2B and B2C).”
In Banco CTT, it “will strengthen a distinct business model, complete the offer and boost digital to complement a non-replicable physical presence.”
CTT will develop business enablers such as leveraging technology and in-house engineering, focusing on attracting, developing, and rewarding talent, and integrating sustainability into daily routine decisions and actions.
In terms of financial ambition and guidance for 2028, “based on the outlined strategy, CTT will leverage its differentiated offering in e-commerce logistics and the partnership with DHL to continue its growth trajectory towards leadership in Iberian e-commerce logistics.”
The growth of CTT is expected to translate into consolidated targets by 2028: “CAGR [compound annual growth rate] in revenues of 7-9% to achieve group operational income in the range of 1.6 billion euros to 1.7 billion euros” and “CAGR of EBIT of 13-17% to achieve a recurring group EBIT in the range of 170 million euros to 195 million euros.”
[Updated at 10:24]
