Professional
Added to YB: 2021-07-21
Pitch date: 2021-07-21
CTT.LS [bullish]
CTT - Correios De Portugal, S.A.
Author Info
No bio for this author
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
turnaround
Maran Partners core holding: Correios de Portugal S.A. (CTT.LS)
CTT.LS: 500-yr-old Portuguese mail monopoly. Distributes 1B+ mail/parcels via 500+ post offices. Owns real estate, bank, digital assets. Offered at times for negative EV. Activist investor joined board, driving progress: postal contract reset, Spanish ops improved, 1% buyback in Q2. Core biz valued 3-4x EBITDA ex monetizable assets. Fundamentals improving but remains cheap & unloved w/ free options ignored.
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