Q3 2020 CTT Correios de Portugal SA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the CTT Third Quarter 2020 Results Conference Call. (Operator Instructions) I must advise you that this conference is being recorded today, on the 5th of November 2020. I would now like to hand the conference over to your first speaker today, Professor João Bento. Please go ahead, sir.
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Good morning, everybody. Thank you for coming. So moving to Slide #4. The quarter was marked by a strong growth in Parcels, strong and sustained, but also a slow recovery on Mail volumes. Revenues have returned to growth despite the challenging comparison effect because we have, in this quarter, last year, the effect -- one-off effect of the elections. But still even with that, revenues returned to growth. Addressed mail volumes declined 14.2%, which is a speeding of decline resulting from the pandemic. But we had also a very strong boost from e-commerce that led to increase in Express &
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