Added to YB: 2025-02-04
Pitch date: 2025-02-02
CTT.LS [bullish]
CTT - Correios De Portugal, S.A.
Author Info
SpruceHill Capital is a value investor with a focus on illiquid small and micro cap stocks. Sign up for the newsletter.
Company Info
CTT - Correios De Portugal, S.A., together with its subsidiaries, engages in reference postal business in Portugal and internationally.
Market Cap
EUR 845.5M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-0.78
P/E
17.54
EV/Sales
-0.11
Sector
Air Freight and Logistics
Category
growth
CTT Correios de Portugal: An Undervalued Growth Story with Hidden Assets trading at 8x EBIT
CTT.LS: Postal co. transforming w/ E-commerce, banking & fin services. E&P seg. 50%+ Portugal mkt share, 15%+ Spain. Q3 8.7% EBIT margin. Cacesa acq. for 5.5x EBIT. CTT Banco: €4B deposits, 12.4% ROTE. Hidden value: €340M real estate at €100M book. Risks: deposit outflows. Upside from E&P growth, bank divestment & real estate optimization.
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