InPost Group announces 44% YoY parcel volume growth
InPost Group, the European automated parcel machine (APM) service provider, has announced its Q4 and full year results, revealing another year of volume growth and extensive expansion of its locker network throughout its core markets in Poland, France, and the UK.
The Group now has a network of over 27,900 APMs and 26,100 Pick-Up and Drop-Off Points (PUDOs) across Europe.
FINANCIAL HIGHLIGHTS
- Revenues of EUR 1.5 billion in 2022, an increase of 53.8% YoY
- InPost’s international markets have seen strong growth and now account for around 41% of Group revenues (2022) , up from 25% in FY21
- Record high adjusted EBITDA of EUR 418.4m, an increase of 20.6% YoY
- Good free cashflow generation in Poland (free cash flow of EUR 143.7m) used to fund InPost’s rapid international expansion throughout 2022
OPERATIONAL HIGHLIGHTS
- InPost delivered 744.9 million parcels across Europe in 2022, up 44% YoY
- Installation of c.7,500 new APMs across the Group in 2022 taking the total of over 27,900, making us the #1 APM network in Europe
- Consumers’ appreciation of InPost’s offering continued to improve with a market-leading APM NPS of 81 in Poland
- ESG is integral to our business model and strategy. As well as supporting environmental and social objectives through our core operations, we also support targeted initiatives, such as:
- We aim to improve living standards across the urban areas we operate in, promoting positive consumer habits through our Green City Programme which is now also being rolled out in France.
- We aim to reduce waste across each part of our operations, as can be seen with the continued success of the InPost Eco-box programme in Poland
- We encourage participation of our employees in sustainability projects through corporate volunteering programmes
- Net-zero by 2040 strategy ratified by the Science Based Targets initiative confirming that InPost is at the forefront of making a real impact in the net-zero transition
OUTLOOK
In 2023, we have three key focus areas:
- exceeding market volume growth in Poland while expanding margins;
- increasing profitability in Mondial Relay, improving operational performance and gaining more B2C market share; and
- resolving logistics challenges in the UK, to enable B2C market share growth and continue to grow well ahead of the market.
The outlook for the business remains strong. In the near-term, we have had a positive start to 2023, despite signs of a consumer slowdown. Our volumes remain robust across each of our markets, and we have been pleased to see continued growth in each of our key markets throughout January and February. While we remain cautious in light ofa macro backdrop which remains uncertain, we are encouraged by the resilience our business has shown in 2022.
Looking further ahead, our fundamental growth drivers remain in place. Our cost-effective offer and environmentally sustainable solution to last-mile delivery is attractive to merchants and positions us as a partner for the future.
Rafał Brzoska, Founder and CEO of InPost Group commented: “In 2022, InPost has continued to build on our positive momentum, with significant growth in each of our key markets. This dynamic expansion and market share gain prove the effectiveness of our business model, and its resilience against what has been a challenging e-commerce backdrop. InPost’s international expansion in 2022 has given us a solid foundation to build a truly pan-European business.
In Poland we remain the leader and are continuing to expand our market share. In our international markets we are in a similar position to where we were in Poland a handful of years ago. We are focusing on building awareness, convenience, density and improving operations, and are seeing the effectiveness of our ‘flywheel’ strategy once again.
In 2023 we are determined to keep transforming the e-commerce landscape across Europe, driving our sustainability agenda, and delivering the leading customer proposition in the market.”
