InPost forecasts 2023 margin improvement in Poland

GDANSK (Reuters) - Polish parcel locker firm InPost on Friday forecast margin improvement in its key market of Poland this year, as it benefits from cutting costs, raising prices and growing parcel volumes.

The company expects an increase in its adjusted core profit (EBITDA) margin in Poland, after it dropped to 43.3% last year from 46.1% in 2021.

Despite facing higher costs due to the war in Ukraine, InPost has been dealing with record numbers of parcels, benefiting from a surge in the use of e-commerce platforms both during and after the COVID-19 pandemic.

"In 2023 we are determined to keep transforming the e-commerce landscape across Europe," said CEO Rafal Brzoska in a statement.

In Poland, its main market, InPost expects to keep gaining market share and grow faster than its competitors, while in France, where it acquired Mondial Relay, it also expects to outperform the market in parcel volumes.

The company posted record full-year adjusted core profit of 1.96 billion Zlotys ($457.29 million), which was slightly above a forecast of 1.94 billion from a company-provided poll of analysts.

($1 = 4.2861 zlotys)

(Reporting by Olivier Sorgho; Editing by Matt Scuffham)