UK parcel delivery company Evri has announced record results for the 53 weeks to February 29, 2024, with revenue up 15.2% to £1.7bn (US$2.15bn) and adjusted EBITDA up 33.7% year-on-year (YoY) to £292m (US$369m). The company also delivered a record 730 million parcels (up 14.9% YoY), with 99% of standard parcels delivered on time.
The company unveiled plans to become a billion-parcel-a-year business within five years by capitalizing on parcel volume growth from new retail client wins, its SME proposition, the rising trend for online marketplaces and social media, and inbound and outbound international expansion.
Martijn de Lange, CEO of Evri, said, “Evri had a record year – delivering more parcels than ever with over 99% arriving on time, a reflection of the ongoing dedication and hard work of our colleagues and couriers. The company’s best-ever year was underpinned by significant investment in our operations and customer service, as well as deepening our relationships with retailers and forging new partnerships.”
Continued investment
Over the past year, the company has extended its out-of-home pickup and drop-off locations to over 16,000. This also now includes branches of the Post Office, which is offering delivery services other than Royal Mail for the first-time in its 360-year history, after it signed a landmark partnership with Evri in 2023.
Evri also invested over £32m (US$40m) in operations and customer services in 2023-24, including hiring more than 6,500 couriers, and more than £10m (US$12.5m) into improving its customer service functions including the launch of a new chatbot and callback feature to deliver responses to customers within 24 hours. The company also announced plans in June to invest £1m (US$1.2m) in its artificial intelligence (AI) strategy to transform its operations.
New owners
Evri announced in August 2024 that it was to be acquired by Apollo Funds, which is committed to “accelerating our growth strategy”, according to de Lange.
Apollo partner Alex van Hoek said, “Evri has an innovative model, great technology and purpose-built infrastructure for reliable, lower emissions delivery in the fast-growing e-commerce market. Evri puts the customer first, and we are pleased to see this continue to come through in their results, whether measured by on-time parcel volumes, new strategic partnerships, or investments in operations.”
Plans for 2025
Over the course of 2024-25, Evri plans to invest around £57m (US$72m) to meet growing demand for services and to further improve its operations and the customer journey. This includes adding capacity to its Barnsley ‘Super Hub’, as well as investment in technology and data analytics to improve tracking, operational planning and cybersecurity.