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CTT Portugal: beyond the envelopes: please, Mr. Regulator: the future of the universal service
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| 2.57 MB | Adobe PDF |
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This thesis provides a comprehensive valuation of CTT Portugal, analyzing its financial performance,
strategic initiatives, and market position. It applies various valuation methods, including discounted
cash flow (DCF) for Grupo CTT (excluding the bank) and free cash flow to equity (FCFE) for Banco
CTT, along with multiples valuation, Monte Carlo simulations, sensitivity analysis, and scenario
analysis.
The individual part explores the potential impacts of reforms to Portugal’s Universal Service
Obligations (USO) model, focusing on measures to address operational inefficiencies at the cost of the
service’s social character, supported by European benchmarks and internal company analysis.
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Equity research CTT Portugal Corporate finance Universal postal service obligation