# InPost sees better margin in Poland, plans no job cuts this year
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-03-31
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: InPost forecasts margin improvement in key Poland market,
Meta Description: Parcel locker firm InPost predicts margin growth in Poland, plans to hire instead of cutting jobs, and will not raise prices again in 2023.
URL: https://financedigest.com/inpost-sees-better-margin-in-poland-plans-no-job-cuts-this-yearhtml

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By Olivier Sorgho

GDANSK (Reuters) -Parcel locker firm InPost forecast on Friday margin improvement in its key Poland market and ruled out job cuts and more price hikes this year, as it benefits from cutting costs and growing parcel volumes.

InPost, whose automated parcel machines (APMs) allow customers to pick up their packages, forecasts an increase in its adjusted core profit (EBITDA) margin in Poland, after it dropped to 43.3% last year from 46.1% in 2021.

In a call, Chief Executive Rafal Brzoska ruled out [job cuts](https://www.financedigest.com/icrc-to-cut-some-1500-jobs-as-humanitarian-budgets-seen-sliding.html "ICRC to cut some 1,500 jobs as humanitarian budgets seen sliding") this year, saying that InPost planned to hire instead. He added the company would not [raise prices](https://www.financedigest.com/analysis-to-raise-prices-or-not-consumer-goods-makers-weigh-bets-on-buyer-strength.html "Analysis-To raise prices or not? Consumer goods makers weigh bets on buyer strength") again in 2023, after a hikefrom March.

Despite facing higher costs and signs of [slowing consumer demand](https://www.financedigest.com/michael-kors-owner-capri-cuts-forecasts-as-demand-slows-shares-plunge-20.html "Michael Kors owner Capri cuts forecasts as demand slows, shares plunge 20%"), InPost has been notching up record parcel numbers, benefiting from a surge in e-commerce both during and after the COVID-19 pandemic.

So far in Q1 2023, despite [signs of a slowdown](https://www.financedigest.com/adecco-sees-signs-of-a-hiring-slowdown-at-start-of-2023.html "Adecco sees signs of a hiring slowdown at start of 2023") in consumer spending, the same trend has not been observed in our volumes,” the company said.

Parcel volumes in Poland continued [growing at double-digit annual rates](https://www.financedigest.com/specialty-carbon-black-market-is-anticipated-to-grow-at-a-significant-rate-tmr-study.html "Specialty Carbon Black Market is anticipated to Grow at a Significant Rate | TMR Study"), with a similar trend seen in France.

The company will work to resolve logistics bottlenecks in [Britain and plans for business there to turn](https://www.financedigest.com/2043-the-year-britain-will-turn-cashless.html "2043: The year Britain will turn cashless") profitable in 2024.

It expects to [spend between 1.1 billion](https://www.financedigest.com/chipmaker-infineon-ready-to-spend-billions-on-acquisitions-ceo.html "Chipmaker Infineon ready to spend billions on acquisitions – CEO") and 1.2 billion zlotys on capital expenditures this year, mostly to support its growth abroad.

The group [posted record](https://www.financedigest.com/truck-maker-volvo-posts-record-q1-as-sales-margins-beat-forecasts.html "Truck maker Volvo posts record Q1 as sales, margins beat forecasts") full-year adjusted core profit of 1.96 billion Zlotys ($457.29 million), slightly above a forecast of 1.94 billion from a company-provided poll of analysts.

APM numbers in Poland [reached 19,306 at the end](https://www.financedigest.com/td-other-banks-reach-1-35-billion-settlements-to-end-stanford-litigation.html "TD, other banks reach .35 billion settlements to end Stanford litigation") of 2022, slightly below guidance from last year that predicted 20,000.

($1=4.2861 zlotys)

(Reporting by Olivier Sorgho; Editing by Matt Scuffham and Clarence Fernandez)


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