Operator

Hello, and welcome to CTT's First Quarter 2026 Results Conference Call. This event is hosted by Mr. Guy Pacheco, CEO of CTT; and by Mr. João Bento, CCO of CTT. Please note that this conference is being recorded. [Operator Instructions] I'll now turn the call over to Mr. Guy Pacheco, CEO.

Guy Patrick Guimarães de Pacheco
CFO & Executive Director

Good morning to you all, and thank you for attending our first Q conference call.

I would invite you to start our presentation on Slide #4, where we show a quarter of resilient growth with 4.3% growth with our growth areas performing well, Parcels and Banco CTT showing growth acceleration. Although as anticipated, our profitability was impacted by a number of contractual impacts, namely the Middle East crisis and new regulation introduction in Parcels, concentrated peak volumes that spilled over to the first quarter and the storms that affected the center of Portugal due to the Hurricane Christine.

And with that, our EBIT declined 35.3% year-on-year on a comparable basis. These events were contained in April and April is showing strong signs of improvement with SEP volumes acceleration accelerating. E-commerce Solutions recurring EBIT also improving sequentially and the public debt placements showing signs of strong recovery and should improve further with the revision of the limits that the government announced last week.

On Page 5, we can see the e-commerce Solutions volumes, where we continue to see strong volume evolution with another quarter of