InPost records 94% increase in Q1 revenues

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Parcel locker specialist InPost Group has increased sales in the first quarter (Q1) by 94% to zł 1.5bn (US$340m), 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 its markets, including Poland, France and the UK. In the first quarter, 1,905 APMs were added, increasing the group’s total to 22,272. Group adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 23% in the quarter to zł 409m (US$92.5m), and the adjusted EBITDA margin was 26.5%.

Rafał Brzoska, CEO, InPost, 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 zł 1.5bn (US$340m). 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 e-commerce 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 seven-minute walk of an APM site.

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.

“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. “Our parcel locker solution uses substantially less energy and labor 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.”

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Dan originally joined Parcel and Postal Technology International in 2014 having spent the early years of his career in the recruitment industry. As online editor, he now produces daily content for the website and supports the editor with the publication of each exciting new issue. When he’s not reporting on the latest technological developments, Dan can be found on the golf course or apprehensively planning his next DIY project.

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