Full Year 2022 CTT Correios de Portugal SA Earnings Call Transcript

Feb 13, 2024

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Mar 17, 2023 / 09:00AM GMT
Operator

Hello, and welcome to the CTT Full Year 2022 Results Conference. My name is George. I will be your coordinator for today's event. Please note, this conference is being recorded. (Operator Instructions) I would like to hand the call over to your host, Mr. JoÃ£o Bento, CEO; and Mr. Guy Pacheco, CFO, to begin today's conference. Please go ahead, gentlemen.

JoÃ£o Afonso Ramalho Sopas Pereira Bento - CTT - Correios De Portugal, S.A. - CEO & Executive Director

Good morning, everyone. Welcome to our 2022 final year results presentation. I would invite you to follow me through the presentation, so if we start on Slide #4. So our main highlights for this, of course, that we have been able to meet the guidance in a quite challenging macro environment.

Looking at the left bottom -- sorry, top bottom left corner, starting with Parcels in Portugal. We've observed a recovery of volumes along the year, starting from a decline of 7% in the first quarter to an improvement of 12% in fourth, a steady monotonic improvement.

While in Spain,

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