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Portugal's CTT Q3 Net Profit €6.9 Mln, Cuts 2026 Guidance

By Reuters News

Nov 4 (Reuters) - CTT Correios de Portugal, SA CTT.LS:

  • SAID ON TUESDAY, Q3 NET PROFIT €6.9 MILLION

  • Q3 REVENUES €320.3 MILLION

  • Q3 EBITDA €40.3 MILLION

  • CUTS FY26 RECURRING EBIT GUIDANCE TO ~€80-85 MILLION

  • CROSS-BORDER VOLUMES FELL SHARPLY, AND ABOVE EXPECTATIONS, AFTER END OF CUSTOMS DE MINIMIS EXEMPTION; CEP AND NON-CEP PROFITABILITY BOTH WEAKENED

  • IDENTIFIED CEP ACTIONS TARGET C.€10-15M CUMULATIVE EBIT IMPROVEMENT IN FY2027, SO THE FULL BENEFIT IS NOT A 2026 EVENT

  • EXPECTS EARNINGS TO RECOVER IN 2027

  • INITIATED SALE OF CONTROLLING STAKE IN BANCO CTT TO INCREASE FINANCIAL FLEXIBILITY, SHARPEN E-COMMERCE FOCUS

  • 9M REVENUE EUR 994.7 MILLION

  • 9M OPERATING CASH FLOW EUR 41.6 MILLION

  • 9M RECURRING EBIT EUR 58.9 MILLION

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Further company coverage: CTT.LS

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