InPost Group has announced record-breaking results for 2023, handling 892 million parcels across nine markets and achieving PLN 8.863bn (US$2.21bn) in revenue, a rise of 20% and 25% year-on-year (YoY) respectively.
In the last quarter of 2023, the company delivered 268.2 million parcels, a rise of 21% YoY, and group revenue increased by 23.7% YoY to PLN 2.659bn (US$663m). Both Poland and InPost’s international markets contributed to this growth, recording YoY improvements of 17% and 28%, respectively. Volumes in the UK market rose by 169% YoY to 17.2 million parcels delivered.
InPost also reported that Polish parcel volumes exceeded market growth, rising by 17% YoY to 175.4 million parcels while the e-commerce market rose by 12%. The company’s subsidiary Mondial Relay also showed strong B2C growth, with volumes increasing by 9% YoY in Q4 2023.
According to InPost, the outlook for 2024 is positive, with expectations to exceed market growth in all geographies, with group revenue expected to grow above volume growth.
CEO comment
Rafał Brzoska, founder and CEO of InPost Group, commented on the results:
“2023 turned out to be another great year for InPost! We achieved new records in volumes, financial results and, most importantly, we delivered on our key strategic priorities. Despite the challenging e-commerce market landscape, our growth continuous to exceed market growth in key geographies, thereby proving the strength and superior value proposition of our business.
“In our domestic market, Poland, we are now reaping the rewards for our long-term investments in logistics, commitment to quality and relentless pursuit of excellence in our user experience. Last year’s peak once again proved that InPost is the most reliable and preferred partner for customers and merchants.
“Mondial Relay, operated in a particularly challenging market environment in 2023, not only outgrew market, but also delivered a significant step up of B2C volumes by 23% year-on-year. Mondial Relay is at the beginning of its journey of gaining scale, improving quality and expanding the network while already being a robust and healthy business. We cannot wait to see how this journey evolves.
“The year 2023 marked a significant breakthrough for us in the UK. We now have a much better and more scalable logistics solution. As a result, we unlocked volume growth and became EBITDA [earnings before interest, taxes, depreciation, and amortization] profitable. Now, it is time to expedite the group’s network expansion by concentrating on our strengths: consumer experience and quality.
“I am also proud of the progress we made in the implementation of our ESG commitments. InPost has pledged to achieve net-zero status before 2040, setting an industry-leading standard. Our APMs provide for a green and efficient parcel delivery and with high network density we generate up to 98% lower carbon emissions delivering to our lockers versus to-door in the last mile.
“Looking ahead, we remain optimistic and the entire InPost team is confident in achieving our strategic plans. Let’s keep the momentum going!”