CTT: net profit falls 36% in the third quarter, weighed down by e-commerce
CTT, Correios de Portugal, reported revenue of €320.3 million in the third quarter of 2026, up 2% year on year. Despite this growth, the profitability of the Portuguese postal group deteriorated significantly. Operating profit (EBIT) fell 22.3% to €15.2 million, while net profit attributable to the group dropped 36.1% to €6.9 million.
This underperformance stems mainly from the e-commerce business, affected by changes to the European customs framework applicable to parcels coming from third countries. Revenue in this division declined 2.3% to €156.7 million, but its recurring operating profit plunged 85.5% to €2.2 million. The decline in cross-border volumes, the change in the business mix and the underutilization of logistics capacity weighed on margins.
Postal and banking activities limit the decline
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The other divisions partially offset this deterioration. Mail & Services posted a 5.2% increase in revenue to €124.3 million, supported in particular by the distribution of public savings products. Banco CTT, for its part, recorded an 11% growth in revenue to €39.3 million.
Profit down nearly 40% over nine months
Over the first nine months of 2026, consolidated revenue rose 9.2% to €994.7 million, but net profit fell 39.8% to €19.8 million. For the full year, CTT now targets consolidated recurring operating profit of between €80 million and €85 million.
« os CTT passam a prever um EBIT recorrente consolidado para o exercício de 2026 de aproximadamente €80–85 milhões »
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