Parcel locker company InPost said today it expected no change in its core earnings this year, after missing market expectations for the final quarter of 2025, affected by integration and accounting costs related to the Yodel acquisition in Britain.
The Polish group, subject of a takeover offer by a FedEx and Advent-led consortium, aims to increase its market share, with mid to high-teens percentage growth in processed parcel volumes and mid-teens growth in overall revenue in 2026.
Its adjusted earnings before interest, taxes, depreciation and amortisation were 1.10 billion zlotys ($298m) in the fourth quarter, compared with a median estimate of 1.21 billion zlotys in a company-compiled consensus.
Both quarterly results and outlook were negative surprises, Erste Group analyst Piotr Bogusz said in a note to investors. "Expected flat adjusted EBITDA should be influenced by the decline in profitability in Poland," offsetting rises in other segments, he said.
The offer, made to InPost shareholders in February, values the parcel locker operator at $9.2 billion, and is aimed at expanding its reach across Europe. At least 80% of shareholders need to commit to the sale for it to go through.
In Poland, InPost's biggest market making up nearly half of its revenue, the company saw a 12% revenue rise to 2.09 billion zlotys. It had previously said fourth-quarter parcel volumes rose only 5% in its home market, falling short of its guidance.
The volume slowdown partly reflects a strained relationship with key client Allegro, which is building a rival delivery‑partner network.
In July, InPost filed for arbitration over an alleged breach of their long‑term delivery deal - claims Allegro rejects as unfounded.
