Full Year 2025 InPost SA Earnings Call Transcript
Key Points
- Inpost SA (INPOY) handled 1.4 billion parcels in 2025, marking a 25% increase year on year, driven by increased merchant adoption and strong customer loyalty.
- The company generated PLN14.7 billion in revenue, up 34%, with more than 50% of group revenue now coming from outside Poland, indicating successful international diversification.
- Adjusted EBITDA reached PLN4.1 billion, growing 12% year on year, showcasing solid profitability despite increased investments.
- Inpost SA (INPOY) expanded its locker network significantly, ending the year with almost 95,000 out-of-home points, including over 61,000 APMs, reinforcing its competitive advantage.
- The company launched InPost+, an AI-supported shopping experience integrated into its mobile app, aiming to streamline online shopping and enhance customer engagement.
- The bottom line came under pressure in the fourth quarter due to temporary integration-related costs in the UK and higher investments in network expansion and IT.
- CapEx increased significantly as the company continued to build infrastructure for long-term European scale, impacting free cash flow.
- In the UK, profitability was deliberately impacted by investments in service quality, leading to a loss position in Q4.
- The company anticipates negative free cash flow in 2026 due to higher CapEx and flat adjusted EBITDA.
- There is an expected decline in EBITDA margin for Poland in 2026, attributed to strategic investments in AI and digital capabilities.
Good morning. My name is Gabriela Burdach, and I'm Investor Relations Director at InPost. Welcome to InPost's fourth-quarter and full-year 2025 earnings call.
A usual disclaimer, today's call includes forward-looking statements that are subject to risks and it's possible that the actual results may differ materially. One very important highlight, with respect to the proposal to acquire all shares in InPost, we will not answer any questions related to the tender offer. This call is strictly focused on financial results, trading performance, and the outlook update. This call is also being recorded and the recording will be available on our IR website shortly after we wrap it up today.
After these slides, we will have a Q&A session. Today's presenters are RafaÃ… Brzoska, CEO; Michael Rouse, CEO, International; and Javier van Engelen, CFO of InPost Group.
I am now pleased to hand over to our CEO. RafaÃ…, over to you.
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