Another series of Integer.pl Group bonds is set to make its debut on CATALYST
26 January 2016
On 12 February, further series of Integer.pl Group bonds will make their debut on the CATALYST alternative trading system – three-year bonds of the INT1217 series and five-year bonds of the INT1219 series. The bonds of both series were issued as unsecured bonds in December 2014. The bonds – with a total nominal value of PLN 30 million – bear interest at a variable rate equal to the WIBOR 6M index plus a margin. Interest will be paid every six months. Integer.pl S.A. made its debut on Catalyst on 24 July 2014. Together with the current series of bonds, bonds with a total nominal value of PLN 120 million will be in circulation.
The INT1217 and INT1219 series bonds were issued at an issue price equal to their nominal value. The redemption date for the INT1217 series bonds was set for 12 December 2017, whilst for the INT1219 series it was set for 12 December 2019.
“A well-planned bond issuance programme and the funds raised through the private placement enable us to develop key business areas and continue to invest in InPost Parcel Lockers® worldwide.” Funding for easyPack’s expansion in Europe is secured through capital contributions from PineBridge and Integer.pl. We have 1,800 machines ready for installation in our warehouses, which are earmarked for projects in Italy and France, and to supplement the British project. However, we are expanding our operations in countries outside Europe using our own funds. This applies, for example, to Canada, the United Arab Emirates and Malaysia. “They too will be covered by the easyPack project in future, as we will be contributing the assets we have financed to that company. This gives us the option of retaining a majority stake in the company, which is our main objective.” – says Rafał Brzoska, CEO of Integer.pl S.A. Group.
In 2014, Integer.pl S.A. carried out two further bond issues, which were also admitted to trading on the Catalyst market following their allocation. In July 2014, 30,000 series INT0617 bearer bonds with a total nominal value of 30 million zlotys. In December 2014, 60,000 series INT0918 bearer bonds with a total nominal value of 60 million zlotys were issued on the Catalyst market.
The Integer.pl Group reported the following results for the first three quarters of 2014 consolidated sales revenue of PLN 436.73 million, representing an 82 per cent increase year-on-year. Consolidated EBITDA stood at PLN 21.66 million. Net profit attributable to the shareholders of the parent company amounted to 9.49 million zlotys.
The Integer.pl Group is expanding rapidly in three main areas:
- InPost Parcel Lockers®
• There are 1,100 InPost Parcel Lockers® in operation in Poland, which will be systematically expanded in terms of capacity. Furthermore, InPost has entered into agreement with Allegro on strategic cooperation as part of deliveries of products ordered online. Every online retailer can now add new options to their delivery choices: Allegro InPost Parcel Lockers® (7.99 zł) in Allegro Registered Post via InPost (3.94 zł). This is the cheapest delivery option available – for both registered letters and parcels. With each of these options, customers have A guaranteed free return of purchased goods. As well as on Allegro, consumers shopping at any online shop also have the option to free replacement goods or returns via InPost Parcel Lockers® and the website SzybkieZwroty.pl. All InPost Paczkomaty® are equipped with payment card readers, some of them also support contactless payments - Ultimately, this feature will be rolled out across all devices.
• There are – operating under various business models – over 3,500 InPost Parcel Lockers®. The Integer.pl Group’s innovative terminals are available across five continents. The roll-out of InPost’s own Paczkomat® networks worldwide is being carried out by easyPack in cooperation with PineBridge Investments and involves the launch of 12,000–16,000 machines in Europe by the end of 2016. EasyPack continues the rapid expansion of InPost Parcel Lockers® – a network of terminals has significantly expanded its reach across key European e-commerce markets, including in the United Kingdom and Italy. The Integer.pl Group has also stepped up its activities on other continents, beginning the installation of equipment in: Asia, the Middle East and North America.
- InPost – postal services
The largest private postal operator in Poland – at the end of the third quarter of 2014 It carried out contracts to handle correspondence for as many as 2,600 organisations in Poland, including both public institutions and private companies. This represents a 20 per cent increase since the start of the year.
In December 2014, InPost – Poland’s largest private postal operator – completed the acquisition of 100 per cent of the shares in Polska Grupa Pocztowa SA. The companies have integrated their operational structures, and the formal acquisition of the shares marked the final stage in the process of acquiring PGP. This will therefore increase InPost’s capacity to handle correspondence, including in the area of public sector contracts. However, PGP will remain a separate company and brand dedicated to business customers requiring advanced postal services.
InPost has recently won tenders to handle mail services the government’s Shared Services Centre, valued at 33 million zloty, and KRUS – valued at nearly 23 million zloty. Furthermore, InPost, in collaboration with PGP, has been handling the mail for the ordinary courts and public prosecutors’ offices for a year – The two-year contract is worth almost 500 million zlotys and covers 100 million parcels.
InPost and PGP offer attractive prices for postal services – up to 40 per cent lower than the competition – and the highest delivery success rate on the market – as many as 75 per cent of registered items are delivered directly to the addressee (without a delivery notice). The companies also record higher on-time delivery rates for registered items than the designated operator – 92 per cent for D+3 letters and 97.5 per cent for D+5 letters.
InPost operates a network of over 8,300 customer service points across Poland, of which 76 per cent are also open on Saturdays, and 8 per cent on Sundays. Every day, over 10,000 postmen and women deliver post to residents’ doorsteps throughout Poland. Recipients and senders can track the progress of letters on the inpost.pl website. In 2013, the number of items handled by InPost was around 240 million, whilst in 2014 it was 300 million. Letters and parcels delivered by InPost are sorted at a state-of-the-art sorting centre covering an area of 10,000 m², which handles up to 1.2 million items a day thanks to its ultra-modern sorters.
- InPost Finance
InPost Finanse operates under a licence granted by the Polish Financial Supervision Authority to act as a domestic payment institution. The company offers a wide range of products in the areas of insurance, money transfers and mobile payments. It processes over 100,000 transfers a month, including payments to KRUS, town councils and MOPS. In addition, InPost Finanse is opening payment points at tax offices.
InPost Finance – in the fourth quarter of 2014 – has once again significantly expanded the scope of money transfer notifications. Thanks to a partnership agreement with PKO Bank Polski Deliveries made by the operator are notified to almost 2,300 new branches located in the largest Polish bank’s own and agency branches throughout the country.
In the first quarter of 2015, InPost Finanse, together with InPost, added the following to its range of services a financial and logistical solution, thanks to which The delivery of the contract and the cash payment will be carried out as part of a single service. ‘Contract Plus Cash’ is an extension of the popular Smart Courier method, as part of which courier delivers the contract to the recipient and returns the signed copy to the sender. The service has the potential to significantly expand the range of services offered by banks and financial institutions, enabling them to exceptionally a convenient way of providing, amongst other things, loans and cash advances.
In the insurance sector, InPost Finanse works in partnership with leading market players, including: Generali T.U., LINK4, Liberty Insurance and the Mutual Insurance Society. The company also provides large-scale outsourcing of settlement and transaction processes. In this regard, I handle, amongst other things, the largest telecoms companies in Poland.
