III - Correios De Portugal: One Of Our Best Performing Investments In 2024
2025-03-03 08:00:00 ET
Summary
- Our SPV investment in Correios de Portugal (CTT) highlights Steven Wood's exceptional ability to transform a 500-year-old business through strategic initiatives and relationship-building.
- CTTPY's transformation includes renegotiating mail contracts, monetizing real estate, improving banking operations, and expanding the package delivery business, especially in Portugal and Spain.
- Recent developments, including a joint venture with DHL, have significantly improved CTTPY's profitability and market position, with potential returns of 2-3x the 2024 year-end share price.
The following segment was excerpted from the Greenhaven Road Capital Partners Fund Q4 2024 Investor Letter ...
Correios De Portugal: One Of Our Best Performing Investments In 2024