Revenues amounted to PLN 1.65 billion and increased by 54%
InPost - a leader among e-commerce delivery platforms in Europe - generated revenues of PLN 1.65 billion in the first half of 2021, up 54% year-on-year. Adjusted EBITDA increased by 73% to PLN 695 million and the EBIDTA margin was 42.1%, up ~470 basis points year-on-year. The total number of devices® increased by 56% year-on-year to 15,572 devices. Forecast for the full year 2021 remains unchanged.
In H1 2021, parcel volumes in Poland increased by 53% y-o-y to 199 million, driven by a 74% increase in the number of boxes to almost 1.9 million. Parcel volumes handled in overseas markets increased by 314% y-o-y to 2.9 million parcels, driven by a 110% increase in the number of machines in the UK and a 115% increase in box capacity. Capital expenditure increased by 53% y-o-y to PLN 329 million. Free cash flow increased by 90% y-o-y to PLN 400 million with an improvement in the cash conversion ratio to 58% compared to 52% in H1 2020. At the end of the half-year, the company recorded 7 million active users of the 'InPost Mobile' application in Poland. In addition, partnership agreements were concluded with 6 cities as part of the 'Green City' programme, under which InPost offers a number of innovative environmental initiatives, and the market-leading Net Promoter Score (NPS) for machine deliveries in Poland rose to 72.
On 1 July, InPost finalised the acquisition of Mondial Relay, a leading French 'out-of-home' parcel delivery company. The value of the transaction was EUR 513 million. As a result, the InPost Group has become Europe's largest delivery platform for e-commerce in the 'out-of-home' format. In addition, InPost Fresh, a new food delivery platform, was introduced in Poland at the beginning of July and the first autonomous devices powered by renewable energy sources were implemented. InPost was also awarded as one of the best employers in Poland in 2021.
- After an exceptionally strong start to 2021, InPost has reported another excellent quarter. Despite unprecedented growth in the second quarter of last year, we increased revenue by 30% year-on-year, improved the profitability of our business and made great progress on key initiatives to support our growth strategy across Europe. We assume that the uncertainty surrounding COVID-19 will continue in the shorter term - but I am confident that accelerated digitalisation is structural and will drive e-commerce growth, with a greater focus on sustainability, which will permanently change consumer preferences - underlines Rafał Brzoska, CEO of InPost .
Q2 2021 revenue was PLN 858m, up 30% year-on-year. Adjusted EBITDA increased by 37% to PLN 362 million and EBITDA margin was 42.3%, up ~470 basis points. In Poland, shipment volumes increased by 26% to 102.5 million, volume growth in equipment increased by 30%. The volume of shipments handled in international markets increased by 200% to 1.5 million units, enabled by growth in the UK market - where a label-free returns service offered by more than 60 e-commerce retailers was successfully introduced.
-In the second quarter, we continued to scale our business, providing greater convenience for consumers and improving the quality of our service to online shops. We accelerated the pace of device deployment in both Poland and the UK and implemented new innovative solutions. We recently placed Parcelcomat® No. 14,000 in Poland and surpassed 2,000 Parcelcomat® devices in the UK. I am also pleased with the progress we have made with our 'Green City' programme in partnership with 6 leading cities in Poland. Its aim is to reduce air pollution and improve the quality of life of urban communities. The programme includes the deployment of the latest generation of machines, powered by renewable energy sources. I am also proud that InPost has been recognised as one of the best employers in Poland. Our team is made up of talented and committed employees, whose tremendous commitment helps us achieve our strategic goals. Immediately after the end of the quarter, we finalised the acquisition of Mondial Relay, and thus we are Europe's leading e-commerce delivery platform. We are successfully executing our plans and I am confident that we have great potential to continuously increase the value of the company in the long term - adds Rafał Brzoska.
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InPost (AEX: INPST) is the leading delivery platform for e-commerce in Europe. Founded in 1999 by Rafal Brzoska in Poland, InPost has a network of more than 16,000 Paczkomat® machines in Poland, the UK and Italy, and provides courier and fullfilment services to e-commerce sellers in Poland, working with more than 28,000 e-tailers.
Strategically positioned in the fast-growing ecosystem of e-commerce, it benefits from favourable market trends - allowing for the rapid deployment of new machines.
InPost's Paczkomat® machines provide consumers with a cheaper, flexible, convenient, environmentally friendly and contactless delivery option. In this way, InPost creates the greenest delivery solution for e-commerce - delivery to the machines reduces CO2 emissions by two-thirds compared to courier deliveries in urban areas and by as much as 90% in rural areas. In addition, it reduces congestion and provides a more convenient solution for delivering parcels to consumers 24/7 and without having to wait at home.
A highly efficient IT infrastructure and rapid implementation of new technologies form the basis of InPost's operations and development. InPost's mobile application 'InPost Mobile' is one of the most popular applications in Poland with 7 million active users.
In January 2021, InPost successfully debuted on the EURONEXT Amsterdam stock exchange.
In July 2021, InPost successfully completed the acquisition of Mondial Relay, a leading French 'out-of-home' delivery company in France, Benelux and the Iberian Peninsula. InPost has thus become Europe's largest e-commerce delivery platform. InPost and Mondial Relay together delivered more than 440 million parcels in 2020.
For more information visit: inpost.co.uk
