InPost Q2 profit falls 30%, cuts 2026 profit outlook as UK turnaround lags

InPost Group experienced a decline in its second-quarter profit by 30%, leading to a reduction of its 2026 earnings projection. The Polish-founded parcel delivery company attributed the decrease to an ongoing UK turnaround, escalating group expenses, and strong growth in its core European markets. The firm is currently being approached with a takeover bid from a consortium comprising FedEx.

The net profit of InPost fell to PLN 93 million, primarily due to increased depreciation from the expanding locker network, a higher effective tax rate, and an unfavorable fluctuation in the euro-denominated debt. Adjusted EBITDA experienced a modest growth of 4.4% to PLN 1.04 billion, yet the margin narrowed by 330 basis points to 25%. The Eurozone's EBITDA expanded nearly 40%, yet the UK business' EBITDA nearly halved to PLN 29.1 million, largely due to the persistent lack of progress in the UK turnaround.

Despite the profit slump, InPost's revenue increased by 18% to PLN 4.18 billion, with the number of parcels processed growing by 16% to 380.9 million. For the first time, international markets contributed to 54% of the total sales, surpassing Poland. However, the lower-than-expected full-year outlook is a result of a mid-single-digit decline in adjusted EBITDA versus the previously steady guidance. The company expects to cut its capital expenditure to PLN 2.1 billion and increase year-end leverage.

InPost's founder and CEO, Rafal Brozka, acknowledged the UK situation as ongoing, projecting low-single-digit volume growth for Q3. The decline in third-quarter volumes is attributed to new EU customs fees impacting marketplace volumes in Poland and the Eurozone.