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CTT

CTT–DHL Iberian Parcels Joint Venture Closes Tuesday 12 May — Correios Encaixam €64 Million, Take 25% of DHL eCommerce Spain via Danzas, Give DHL 25% of CTT Expresso and Lock a €35-Million Annual EBIT Synergy Target Across the New Iberian Number-One

CTT–DHL Iberian Parcels Joint Venture Closes Tuesday 12 May — Correios Encaixam €64 Million, Take 25% of DHL eCommerce Spain via Danzas, Give DHL 25% of CTT Expresso and Lock a €35-Million Annual EBIT Synergy Target Across the New Iberian Number-One

CTT and DHL closed their Iberian e-commerce parcels JV on Tuesday. CTT encaixa €64 million net cash, takes 25% of DHL eCommerce Spain via Danzas, gives DHL 25% of CTT Expresso, and targets €35M+ annual EBIT synergies in 2–3 years. EU clearance landed 19 March 2026.
The Portugal Brief
Guy Pacheco's Debut Quarter at CTT Books a 17.6% Profit Drop to €4.5 Million on Iran-Hormuz, the January-February Storms and a 39.6% Collapse in Public-Debt Placements — Revenue Still Up 14.1% to €329.4 Million

Guy Pacheco's Debut Quarter at CTT Books a 17.6% Profit Drop to €4.5 Million on Iran-Hormuz, the January-February Storms and a 39.6% Collapse in Public-Debt Placements — Revenue Still Up 14.1% to €329.4 Million

CTT's Q1 2026 numbers — Guy Pacheco's debut quarter as CEO — print net profit down 17.6% to €4.5 million on Iran-Hormuz, the January-February storm cluster and a 39.6% collapse in public-debt placements, even as revenue lifts 14.1% to €329.4 million.
The Portugal Brief