According to a statement sent this Thursday to CMVM, CTT made a profit of 28.3 million euros in the first nine months of the year, which is 7.6% (two million euros) more than in the same period last year. Over the past three months, the net result was 13.8 million, an increase of 50.8%.
EBITDA (earnings before interest, taxes, depreciation and amortization) reached EUR 87.6 million, up 4.7% year-on-year, of which EUR 36.4 million was achieved between July and September — an increase of 42.1% compared to the third quarter of 2021.
These results come against the backdrop of an increase in operating profit, which by September reached 662.8 million euros, which is 8.1% (49.9 million) more than in the first nine months of last year. The company indicates that there is “growth in all areas of business.”
The Mail and Others segment, which accounts for about half of all invoicing, increased by 8.3% (+26.6 million) “reflecting NewSpring Services’ integration into the CTT offering in September 2021 (+14.6 million euros) and Growth in the Core Business Solutions business of €24.3 million, driven primarily by revenue related to a computer sales project launched in the last quarter of 2021 (+€21.5 million).”
However, during this period, “direct traffic decreased by 3.9%” compared to the nine months of 2021, mainly due to transactional (-4.6%) and editorial (-4.8%) traffic. The exception is advertising traffic, which increased by 5% (but costs less than 6% of all addressed objects).
In other revenues, Banco CTT increased by 24.9% (+17.9 million), financial services and retail by 11.2% (+4 million), and express delivery and parcels by 0.8% (+ 1.4 million).
Operating expenses from January to September reached 619.8 million euros, an increase of 52.4 million euros (+9.2%) compared to the same period last year.
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