With parcels and express revenue increasing 27% and Banco CTT recording 31% revenue growth, CTT Portugal Post's total revenue increased 1% in 2020.

An accelerated decline in addressed and unaddressed mail volumes, driven by the COVID-19 pandemic, weighed on group performance, particularly in the middle of the year. Parcels revenue in Portugal increased 29% in 2020, while revenue in Spain increased 40%, in part as a result of key e-retailer partnerships. The post increased investment in the core growth areas of banking and parcels and express in 2020, adding additional sorting capacity for parcels in Spain, for example. For more details download the latest IPC Carrier Intelligence Report for CTT Portugal Post.

 

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