Half Year 2026 InPost SA Earnings Call Transcript

Aug 31, 2026 / 08:00 AM GMT

Release Date Price: €15.51 (+0.98%)

Transcript

Key Points

Positve

Group volume grew 16% year-on-year to 318 million parcels, with revenue up 18% to 4.2 billion Polish Zloty, outpacing volume growth.
International markets now account for 54% of group revenue, with Eurozone volumes up 30% and APM volumes up 45% year-on-year.
Record APM deployment of 15,600 new machines in the last 12 months, crossing 100,000 out-of-home points and 70,000 APMs globally.
Poland maintains strong consumer engagement with 96% of consumers using InPost lockers for receiving parcels and an NPS of 76, well ahead of competitors.
UK transformation is progressing, with adjusted EBITDA improving from a loss of 49 million Polish Zloty in Q1 to a positive 29 million in Q2, and B2C volumes up 27%.
FedEx partnership is set to launch last-mile services in the UK and Poland in September, opening new growth opportunities.

Negative

Group adjusted EBITDA growth slowed to 4.4% in Q2, with margin declining to 25% due to segment mix and investment in new services.
Adjusted EBIT declined 19.3% and adjusted net profit fell 50% in Q2, impacted by higher depreciation and unfavorable FX.
UK adjusted EBITDA margin dropped to 2.8% from 5.1% a year ago, reflecting restructuring costs and lower revenue per parcel.
Group free cash flow turned negative at -541 million Polish Zloty in H1 2026, versus a positive 54 million a year ago, due to heavy international investment.
Net leverage rose to 2.5 times from 2.1 times a year ago, with net debt increasing to 10.1 billion Polish Zloty.
Full-year 2026 outlook revised down: adjusted EBITDA is now expected to decline by a mid-single-digit percentage, and Q3 volume growth is expected to be low single-digit due to EU customs fee changes impacting Chinese volumes.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INPST.AS - InPost SA
Half Year 2026 InPost SA Earnings Call
Aug 31, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning. My name is Gabriela Bourdach and I'm the Investor Relations Director at Inpost. Welcome to Inpost's second quarter 2026 earnings call.

As usual disclaimer, 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 also 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 Rafael Droska, CEO, Michael Rouse, CEO International, and Javier van Engelen, CFO of Impost Group.

I'm now pleased to hand over to our CEO. Rafael, over to you.

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