InPost Group: 417.6 million parcels delivered in Q4

InPost Group has announced its Q4 results with record parcel volumes and revenues, though the bottom line was under pressure in the UK.

 Growth was driven by network expansion and the integration of recent strategic acquisitions.

InPost Group FY 2025 and Q4 2025 Highlights

• Record Parcel Volumes and Market Share Gains. InPost delivered 417.6 million parcels in Q4 2025, up 30% YoY, with share gains. Growth was led by the UK (+240% YoY), supported by Yodel consolidation, followed by the Eurozone (+23% YoY) and Poland (+5% YoY).

• All-Time High Revenue. Group revenue reached PLN 4.5 billion, up 32.6% YoY, supported by acquisitions, with the UK contributing the largest growth (+132.3% YoY), alongside solid increase in Eurozone (+21.6% YoY) and Poland (+12.1% YoY).

• Adjusted EBITDA and EBIT Reflecting Integration Impact. Q4 Adjusted EBITDA reached PLN 1.1 billion (–3.9% YoY) and EBIT decreased to PLN 358.4 million reflecting temporary integration-related pressure in the UK and increased D&A linked to the Yodel acquisition.

• Accelerated Network Expansion. InPost added 14.2k lockers, expanding out-of-home network to 94,536 points, including 61,196 APMs – reinforcing its #1 APM position in Europe.

• Higher Investments to Support Long-Term Growth. Full-year capex reached PLN 1.8 billion, up 31.0%. Almost 70% of capex was dedicated to expanding the European APM network, and the remainder allocated to IT and AI-driven projects.

• Cash Flow Impacted by M&A Integration. Poland generated PLN 1.6 billion FCF in FY25 converting 46.3% of Adjusted EBITDA. Internationally, FCF was PLN –1.4 billion, reflecting increased expansion capex and integration costs. As a result Group FCF totalled PLN 84.1 million, lower YoY mainly due to higher investments.

• Increased Leverage Following Acquisitions. Net leverage stood at 2.2x, remaining at a healthy level despite acquisitions, significant network and logistics investments.

Q4 2025 Segment Highlights

• Poland – Solid Revenue Growth and Strong Profitability. Revenue in Poland grew 12.1% YoY, supported by expansion across key merchants and international marketplaces. A favourable shift in the sales mix, combined with disciplined SG&A control, drove an improvement in the Adjusted EBITDA margin, which expanded to 49.5% (up 170 bps YoY).

• Eurozone – Strong Top-Line Performance and Margin Stability. Eurozone volumes increased 23% YoY to 104.8 million, driven by robust B2C growth (+60% YoY) and higher APM adoption. Adjusted EBITDA rose 20.1% YoY to PLN 208.7 million, with a solid margin of 17.1%.

• UK – Significant Revenue Growth, Bottom-Line Under Pressure. UK parcel volumes more than tripled YoY, supported by the consolidation of Yodel. Adjusted EBITDA was negative in the quarter, reflecting capped volume and a strategic decision to prioritise service quality over short-term cost optimisation.

2026 Outlook

• Q1 2026 Trading Update – At the Group level for Q1 2026, we anticipate YoY growth in the high-twenties percent range. In Poland, we expect YoY volume growth at mid- to high- single digit. Internationally, we are forecasting approximately 70% growth in InPost volume YoY.

• 2026 Outlook – We expect InPost to increase its market share, with Group volumes growing YoY in the mid- to high-teens level. We anticipate Group Adjusted EBITDA to remain flat YoY, reflecting lower expected profitability in Poland and the increasing share of the UK in total Group results.

We plan to accelerate deployment to over 20,000 APMs across all markets.

Rafał Brzoska, Founder and CEO of InPost Group, commented: “2025 was a year of relentless acceleration for InPost. We delivered record volumes, as well as revenues and continued to expand our leadership position across Europe — all while integrating acquisitions and investing heavily into our network, technology and operations. Our performance once again confirms the strength, scalability and resilience of our out‑of‑home delivery model, which continues to win the trust of millions of consumers and thousands of merchants.
In Poland, our most mature market, our love‑brand status continues to translate into strong engagement and outstanding profitability.

In the Eurozone, we are scaling rapidly, with lockers becoming a mainstream delivery choice and Mondial Relay strengthening its position as a trusted European brand. In the UK, following the integration of Yodel, we are investing decisively to build scale and transform the business. This includes restructuring initiatives designed to improve efficiency, enhance service quality and improve profitability over time, while continuing the rapid expansion of our APM network and reshaping consumer delivery habits.
As we enter the next chapter, we remain focused on shifting European e‑commerce to out‑of‑home, unlocking operational synergies across our platform and continuing to invest significantly to support our long-term growth.”