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Investing.com -- InPost reported strong third-quarter results, with earnings and parcel volumes rising sharply across its key markets, led by growth in Poland and a turnaround in the U.K. business.
Adjusted EBITDA for the quarter increased 24% year-on-year to PLN 1.06 billion, coming in 4% above consensus estimates cited by Jefferies.
Jefferies analyst David Kerstens said the growth was "driven by better parcel volume growth of 34% to 351.5 million parcels," which led to 49% higher revenues.
EBITDA growth picked up to 24% in the third quarter from 13% in the previous one, driven by stronger parcel volumes in Poland and improved performance at Yodel in the U.K.
In Poland, EBITDA climbed 18% to PLN 855.9 million, with parcel volumes up 10%, ahead of market growth of 6%, pushing margins to a record 49.2%.
Eurozone EBITDA rose 34% to PLN 144.3 million, while the U.K. segment surged 113% to PLN 88 million following progress at Yodel.
The company’s Automated Parcel Machine network expanded 30% year-on-year to 56,757 units, with double-digit growth across all regions.
However, InPost lowered its full-year EBITDA growth guidance to the mid-teens, from a previous 20–25%, citing additional investments in quality improvements during the U.K. peak season.
This will "likely trigger FY25E consensus EBITDA downgrades of c.4%," Kerstens said.