CTT-Correios de Portugal has seen a year-on-year drop in net profit, the company confirmed.
The operator achieved a 2010 net profit of EUR 56.3m, down 6.1% on 2009 results, with the company highlighting “the impact of the international crisis within the postal business and subsequent decrease of postal demand”.
CTT confirmed the distribution of dividends to the shareholder to the amount of EUR 36.1m.
The EBITDA and EBIT margins during 2010 were 11.4% and 7.8%, respectively.
Over the course of 2010, CTT carried out a specific strategy to prepare for full liberalisation. It consolidated operational efficiency with the development of corporate mail delivery and a provision of new services at post office counters.
The operator also looked to bolster its presence in the digital services market – with users of ViaCTT, the electronic mail box, increasing by 72%.
In terms of international development, the joint venture between CTT and the Post of Mozambique, called CORRE, started its expansion strategy during 2010.
The company’s social and environmental agenda – “CTT: With you for a sustainable future” – won a World Mail Award last month in Brussels.
Furthermore, CTT was announced as a Trust and Excellence Brand. CTT Expresso won the Gold award, the equivalent to first place among all public and private postal operators of the EU.
Source: CTT-Correios de Portugal
Tags: 2010, CTT Correios de Portugal, financial results, Portugal
