E-commerce logistics enabler InPost Group has announced its second quarter financial results, highlighting a 23% increase in total parcel volumes to 264 million compared to Q2 2023 and a tripling of its revenues in the UK market to PLN 236.7m (£46.5m/US$61.5m).
Overall, the group delivered PLN 2.62bn (US$681.5m) revenues in Q2 2024, a rise of 22.5% year-on-year (YoY), with parcel volumes in the UK and Italy doubling to 29.1 million.
The Polish market also saw strong growth of 20% YoY to 170.4 million parcels, while InPost’s Mondial Relay division handled 64.9 million parcels (up 9% YoY), primarily driven by a further dynamic increase in the B2C segment.
Rafał Brzoska, founder and CEO of InPost Group, commented, “In Q2 2024, we delivered another set of strong operational and financial results. At the Group level, we once again reported strong above-market volumes, revenue and profits. We are accelerating our APM network expansion. Last quarter, we set a new record for locker deployments, with 3,000 new APMs.
“In Mondial Relay, we have continued to grow quickly in the B2C space, despite the market challenges, and we have started to deliver on our guided margin improvement. In the UK, our fastest growing market, we have accelerated our growth compared with Q1 2024. We are improving network utilization, and our app was among the top 10 most downloaded lifestyle apps in the UK many times this year.
“We remain consistent in executing our strategy for each market and continue to focus on our expansion while maintaining the cost discipline.”
According to InPost, it continues to see volume growth of around 20% at the group level in Q3 2024, with volume in Poland growing in the mid- to high-teens and total international volume growing at a similar rate to Q2 2024.