Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2022 11 09T060711Z 1 LYNXMPEIA807T RTROPTP 4 INPOST RESULTS - Business Express
FILE PHOTO: An InPost locker is seen in Hackney, London, Britain, January 22, 2021. Picture taken January 22, 2021. REUTERS/Simon Newman

InPost sees stronger 2022 but warns of slowing demand

(Reuters) – Poland’s InPost on Wednesday said its full-year expectations were higher than previously anticipated thanks to strong volumes, even as it warned of slowing demand toward the end of the year.

The company, which operates a network of automated parcel machines (APMs) where customers collect their own packages, said it saw lower volumes in October and early November, which would likely impact its fourth quarter.

Inflation in Poland was 17.9% in October driven largely by soaring energy prices, preliminary data showed.

Chief Executive Rafał Brzoska added the firm’s contractual pricing adjustments for large customers such as Allegro, which began in November, bode well for its margin outlook, a process that will roll into the first quarter of next year.

The company had previously warned it expected erosion of its margins in the second and third quarters of 2022, with a bounce-back seen in the last quarter of the year.

Its third-quarter adjusted earnings before interest, tax, depreciation and amortization (EBITDA) margin dropped to 27.0%, from 32.1% a year earlier.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

The company delivered 178.8 million parcels in the third quarter, up 32% year on year.

In its key Poland market, the number of its APMs reached 19,254 at the end of the third quarter, up 17% compared with the end of 2021.


(Reporting by Olivier Sorgho; Editing by Lisa Shumaker)


Recent Post: