CTT achieved a consolidated net profit of €61 million, a 70.7% (+€25.3 million) increase on 2012. Consolidated earnings per share were €0.41 and return on equity 22.2%. These results reflect a slower decline in revenues of only -1.3%, much lower than the reduction achieved in operating costs (excluding impairments, provisions, depreciation/amortisation and non-recurring costs) of €21.3 million (-3.5%). That produced a recurring EBITDA of €122.9 million, an increase of 10.8% (€11.9m) over the 2012 figures, with an EBITDA margin of 17.4% compared to 15.5% in the previous year; and a recurring EBIT of €96.1 million, 16.2% higher than in 2012, and the EBIT margin increasing by 2.0 p.p. to 13.6%.