InPost boasts 93% Q1 revenue growth, powered by e-commerce

“Given our stronger than expected first quarter, particularly in Poland, we have increased our outlook for the full year… We expect the coming quarters to be equally strong,” said CEO Rafal Brzoska.

Parcel locker company InPost raised its 2021 outlook on expectations that the strong growth in e-commerce that boosted its revenue by 93% in the first quarter will not fade.

InPost, which debuted on Euronext ENX.PA in Amsterdam in January, has benefited from a boom in online sales due to lockdowns during the coronavirus pandemic.

Its revenue surged to 793 million zlotys ($214 million) and the number of parcel machines rose by 47% to 13,553 in Poland.

InPost now expects to have 15,500-16,000 parcel lockers in Poland this year, compared to 14,500-15,500 machines seen in guidance in March. It also sees adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) margin in 2021 in a 45-47% range versus 43-45% expected before.

Shares in InPost rose 2.6% at market opening.

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