InPost Group: FY 2021 Group Revenue increased by 82%
InPost Group has published its FY21 and Q4 2021 financial results revealing strong performance despite tightening market conditions. InPost achieved market share and margin gains in Poland and announces advanced strategy to automate Europe’s e-commerce last mile post Mondial Relay acquisition.
FY 2021 HIGHLIGHTS
- The total number of Automated Parcel Machines (APM) increased by 66% year-on-year to 20,367 with 2.6 million lockers deployed (+70% year-on-year). In Poland, InPost accounted for 90% of 2021 locker additions in the market.
- FY 2021 Group Revenue increased by 82% to PLN 4,602 million. Of this growth, 43 percentage points was from the acquisition of Mondial Relay. Aided by a rise in B2C market share in Poland from 44% to 48%, the revenue growth rate excluding Mondial Relay reached 39% in 2021.
- Group Adjusted EBITDA rose 63.7% in 2021 to PLN 1,626 million.
Q4 2021 HIGHLIGHTS
- InPost Group revenue rose by 96.9% in Q4 of 2021 vs Q4 of 2020 to PLNm 1,677. Of this 73 percentage points came from the Mondial Relay acquisition, while the revenue growth rate of InPost excluding Mondial Relay was 23.9% in Q4.
- In Q4 Adjusted EBITDA grew by 46.7% to PLNm 523.1 with 29 percentage points driven by the Mondial Relay consolidation and 17.7% organic EBITDA growth in the legacy InPost markets.
Rafał Brzoska, the founder and CEO of InPost commented on the results: “In 2021 we delivered another strong year of growth and margin expansion in Poland, thanks to improving consumer usage as proximity to our lockers increased. We continue to invest in enhancing our best-in-class consumer experience to help our merchants maximize their sales and customer satisfaction. It is not without significance that today 56% of Poland’s population has our lockers within a 7 min walk from their home. We achieved further market share gains not only by placing 9x more lockers than all our competition combined in 2021, but through our operational focus and expertise as a world leading automated parcel machine specialist. I am pleased to report that build-up of utilization and payback trends of the new machines are stronger than all previous year cohorts, with the exception of the covid driven 2020. In Poland we now have a total of 2.4m lockers, which represents 96% of all parcel lockers across the entire market. Our APM service’s net promoter score (NPS) improved again, reaching a new record level of 75. A recent study highlighted that we have the most preferred last-mile delivery service for consumers in Poland. Our aim is to transfer that elevated customer experience to the pan-European level, accelerated by our acquisition of Mondial Relay. “