Half Year 2024 InPost SA Earnings Call Transcript
Key Points
- Inpost SA (INPOY) handled 264 million parcels in Q2, marking a 23% year-over-year increase.
- Adjusted EBITDA grew by 29% year-over-year, with the group adjusted EBITDA margin reaching almost 34%.
- Revenue in Poland grew by 22%, with an adjusted EBITDA margin of 46%.
- International markets saw a 29% increase in parcel volume and a 27% revenue growth in local currency.
- The UK achieved record parcel volumes with over 23 million parcels delivered in one quarter, alongside continued margin expansion.
- Despite strong performance, the geopolitical situation remains uncertain, which could impact future results.
- The company faces challenges in maintaining high margins due to increased volumes of lower-priced door parcels, particularly from Asian e-commerce platforms.
- International market trends are slightly lower than expected at the beginning of the year.
- The company has not yet decided on its pricing strategy for 2025, which could impact future profitability.
- The minimum wage increase in Poland for 2025 will put additional pressure on costs.
Good morning. My name is Gabriela Burdach, and I'm the Investor Relations Director at InPost. Welcome to InPost's Second Quarter 2024 Earnings Call. A quick disclaimer that today's call includes forward-looking statements that are subject to risks and it is possible that the actual results may differ materially.
This call is being recorded, and the recording will be available on our IR website shortly after we wrap it up today. After the slides, we will have a Q&A session. Today's presenters are Rafal Brzoska, CEO; Michael Rouse, CEO, International; and Javier van Engelen, CFO of the InPost Group. I am now pleased to turn over to our CEO, Rafal, over to you.
Good morning, everyone. Thank you, Gabi, and thank you all for being here today. We are pleased to share another quarter of various performance by InPost Group. These results in Q2 and in the first half of 2024, demonstrate execution of our strategy across all markets.
We are very
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