Correios Finds Banco CTT’s Strategic Partner-Empresas

According to the post office in a statement sent to the Stock Markets Commission (CMVM) this morning, CTT is looking for a strategic partner for Banco CTT, where they will present the company’s strategy for the coming years.

“After receiving several strategic partnership offers to accelerate Banco CTT’s growth potential, CTT is considering entering into a strategic partnership with Banco CTT in exchange for a minority interest in Banco. Reserving capital increases and allocating new revenue to potential CTT partners. Business Initiative, “the document states.

The Portuguese Post Office also enters into insurance sales agreements “with the exclusive and long-term nature of the life and non-life insurance categories and potential partners covering both CTT and Banco CTT retail networks”. I’m expecting that. .. The company shows that it aims to incorporate 400 assets. “Both retail and operations, crystallization of their value, optimization of revenues for managing unused and vacant properties, and the creation of means to fund the growth potential of future construction opportunities. In the case of CTT “. The asset portfolio will be incorporated into a new entity in which the post office holds a majority stake.

Regarding dividends, it has indicated that it intends to pay 35 to 50% of net income as ordinary dividends. Nevertheless, he said that the proposal was “market conditions, appropriate financial and accounting conditions on the CTT balance sheet that enable such implementation, and applicable legal and regulatory conditions, and others to be considered. It is affected by the factors of. ” The board of directors is always relevant. “

CTT expects to achieve revenues of € 1.15 billion by 2025, with annual compound interest growth on the order of 7% to 10%. EBIT growth (earnings before interest and tax) will be between 14% and 19. The company estimates that% of this period will reach a recurring EBIT of € 100-120 million. The target for capital investment (capital spending) is 160-180 million between 2022 and 2025, which is equivalent to 40-45 million annually.

Over the next few years, Correios will reaffirm its commitment to the Iberia market, strengthen its environmental ambitions and online positioning, and implement a variety of measures, including participation in social and volunteer programs, to improve talent satisfaction. I am aiming for improvement.

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