Express and Parcels division revenue was driven by a 38% increase in volumes in Spain as the post continued to expand its sorting and delivery networks across the country. Spanish parcels operations accounted for 14% of CTT’s total revenue in 2021. Further strong growth was also recorded for parcels and express services in Portugal, where the addition of a major e-retailer supported a 23% increase in revenue.
New service launches and a recovery in demand drove an 8% increase in advertising mail volumes in 2021. However, e-substitution drove continued transactional volume declines in the year. Mail volumes were also negatively impacted by a sharp drop in inbound international volumes, partly as a result of EU VAT changes for cross-border purchases in the middle of the year. For more details download the latest IPC Carrier Intelligence Report for CTT Portugal Post.