CTT – Correios de Portugal delivered a strong start to the year in Q1 with its Express and Parcels business, which saw double digit volume, revenue and earnings growth, boosting the performance of the Iberian postal group.
Overall, the firm recorded revenues of €288.5 million in Q1 2025, up 9.5% year-on-year (YoY). Along with the performance of Express and Parcels (E&P), this result was also driven by the recovery of CTT’s Financial Services business, it noted.
In the first quarter recurring EBIT stood at €20.2 million, up +19.5% YoY. However, high costs led to a slight decline in net profit, which reached €5.5 million in Q1(-€1.9 million YoY).
Express and Parcels performance
