Parcel locker company InPost reported a 33.4% rise in its third-quarter earnings on Friday, above market expectations, buoyed by volume growth both in its home market Poland and abroad.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were 852.7 million zlotys (€197.65 million) in the quarter, compared to the 821 million zlotys (€190 million) expected by analysts in a company-compiled consensus.
Automated Lockers
InPost operates Europe's biggest network of automated lockers, dubbed automated parcel machines or APMs, that allow customers to collect or drop off packages at a convenient time.
The group, which aside from Poland is present in eight countries including France and Britain, delivered 262 million parcels in the quarter, 25% more than last year.
InPost said it expects 2024 group margins to improve year on year, with margins in Poland growing in line with revenue and stabilising at a mid-40s percentage. It had earlier guided for a 'slightly softening' margin in Poland, but also coming in at mid-40s.
Growth Rate
It now sees margin at its Mondial Relay segment, which includes France, to improve by 200-300 basis points compared to the increase of 100-200 basis points it saw earlier.
At the group level, it expects revenue growth rate to be in line with volume growth on the back of product mix by markets, while earlier it had expected it to exceed volume growth by low-to-mid single digits.
