InPost nearly triples UK parcel volumes after Yodel acquisition
InPost has reported a huge boost to UK parcel volumes and revenue after its takeover of competitor Yodel earlier this year.
Revenue in the UK grew 303.1 per cent year on year in the second quarter to PLN 954.2m (£193m), making it the second-largest contributor to Group revenue after Poland, which has a 27 per cent share.
Parcel volumes, which include the consolidation of Yodel for May and June, increased by 177 per cent year on year to 65.4m.
Adjusted EBITDA grew 43.6 per cent to PLN 48.4m (9.83m) reflecting strong performance during the Yodel consolidation and integration phase.
InPost to continue to grow
InPost, which was launched in 2013, works by operating a set of lockers across a country, which work with the country’s postal service to deliver parcels to and from the lockers. Customers can then pick up or drop off the goods in their own time.
Around three quarters per cent of the population in the top three cities in the UK lives within a seven-minute walk of an InPost delivery point, with 51 per cent of the total population covered.
While the business in Poland still provides the majority of revenue for InPost, the UK is its fastest growing market out of the nine it operates in – the UK market grew by 163 per cent last year.
Rafał Brzoska, founder and CEO of InPost, said it was “another strong quarter” for the company.
“For the first time, over half of InPost Group’s revenue came from outside Poland, confirming the success of our international strategy.
“The UK has emerged as a key growth engine, with volumes almost tripling, driven by addition of Yodel to the Group’s portfolio and continued organic growth,” he added.
Overall revenue at InPost rose to PLN 1bn (£200m) in the second quarter, up 23 per cent year on year.
Revenue rose 25 per cent to PLN 3.5bn, while adjusted EBITDA rose 35 per cent to PLN 3.5bn.