Lisbon, Nov. 4, 2025 (Lusa) - CTT's Capex for the three years 2026-28 is expected to reach €50 to €55 million per year, including increased capacity throughout the Iberian Peninsula, Correios de Portugal announced on Tuesday.
According to CTT, to move forward with the three-year growth strategy, the company will "intensify its core investment during this period", aiming to expand operations and service quality through strategic investments in infrastructure, out-of-home solutions, and IT.
"Capex [Capital Expenditure] in the period between 2026-28, with Banco CTT accounted for using the equity method, should reach between €50 million and €55 million per year, which is equivalent to an intensity, as a percentage of revenues, in the order of 3.5-4.0%," the company said.
Capex will be directed towards key investment areas.
These areas are "increasing capacity throughout the Iberian Peninsula, capturing cost synergies and reinforcing quality", as well as "expanding the locker network, capturing “out-of-home” advantages, with a return on investment of around 2-3 years", reads the statement sent to the Portuguese Securities Market Commission (CMVM).
Another key area is "improving the customer experience through digital channels".
After this period of increased investment, "after 2028, the intensity of investment will tend to normalise, i.e. it will be below 3% as a percentage of revenue".
The company, led by João Bento, is holding its Capital Markets Day 2025 today.
The investment plan “foresees the revitalisation of the hubs, the updating of the central platform, digitalisation and AI/automation of processes,” say CTT, which expects Banco CTT"s investment to range between €15 million and €18 million per year in the three-year period 2026-28.
"The financial ambition presented assumes a stable macroeconomic context and the implementation of the joint venture with DHL, as announced on 19 December 2024," they say.
In terms of financial policy, "CTT maintains the view that prudent and appropriate management of its financial position is of the utmost importance to all its stakeholders".
Correios "also aims to balance cash utilisation through investment in organic and inorganic growth and commitment to shareholder returns", noting that "cash flow will continue to benefit from revenue growth and operational leverage, namely in e-commerce solutions".
The company does not foresee any new commitments for Banco CTT.
As for shareholder remuneration, CTT says it is committed to improving it while "maintaining financial flexibility".
CTT announces that it "maintains the objective of paying out between 35% and 50% of net income in recurring dividends".
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