InPost Q1 figures: a good start to a challenging 2022
InPost Group, the e-commerce enablement platform in Europe, has released its Q1 figures revealing increased sales in the first quarter by 94% to PLN 1.542 billion, aided by continued market share gains in all key geographies. The volume of parcels handled grew by 68% to 164.2 million.
InPost accelerated the expansion of its Automated Parcel Machine (APM) network in all markets. In the first quarter 1,905 APMs were added, increasing the group’s total to 22,272. Group adjusted EBITDA rose 23% in the quarter to PLN 409.1 million, and the adjusted EBITDA margin was 26.5%.
InPost CEO Rafał Brzoska said: “InPost had a good start to a challenging 2022, with continued market share gains in all our core markets. Sales growth in the first quarter reached a record 94%, bringing us to PLN 1.542 billion. In the UK, despite a drop in e-commerce volumes in the quarter by more than one-fifth, we increased volumes by 157% and even exceeded the high volumes we saw in the fourth quarter of 2021. In France, our strong position with C2C marketplaces led us to 8% volume growth compared with an estimated 16% drop for the entire market. In Poland we once again gained market share despite competitors’ rising locker deployments. Pressure on purchasing power strained ecommerce growth rates on most European markets in the first quarter, and while we expect this to continue throughout the year, we also believe we’ve found a formula to continue growing faster than our competitors even in this difficult market.”
After improving market share in Poland from 44% to 48% in 2021, the company grew volumes by a further 16% in Q1 vs an estimated 15% growth for the market. Today 57% of Poles live within a 7-minute walk of an APM site. The parcel lockers allow customers to pick up shipments 24/7 without needing to wait at home or stand in line at shop.
InPost added 912 APM sites in Poland during the quarter. The number of APM users in Poland grew 13% year on year to 15.3 million. The company more than doubled the count of APM sites in France from the end of 2021, reaching 651 at the end of March.
According to the latest report from the market research agency Kantar, 94% of Poles choose APMs as a delivery method, and the company’s net promoter store for receiving and sending parcels from APMs remains very high at 75. The growing interest in InPost’s services can be seen in the growing number of users of the mobile application. InPost added more than 400,000 app users during the quarter, bringing the total above 9.6 million.
“Having 57% of Poles in close proximity to an APM site has clearly made a lasting improvement in the consumer experience in e-commerce in the country, particularly for the growing number of customers whose priorities include sustainability in delivery solutions,” Brzoska said, referring to figures showing InPost lockers can cut CO2 emissions by as much as 90% compared to door-to-door deliveries. “Our parcel locker solution uses substantially less energy and labour per package than door-to-door delivery. Our mission now is to build awareness and roll out that elevated convenience and sustainability proposition to consumers and merchants across our European markets.”
In addition to its contribution to sustainability through its services, InPost’s ESG efforts include aid to Ukrainians who have been affected by the war. That includes transporting about 6,000 tonnes of humanitarian aid, in cooperation with organizations including Caritas, the Polish Red Cross and clothing retailer LPP. The company is also adding Ukrainian-language versions of its services to better meet the needs of refugees who have arrived in Poland.