Poland’s Integer.pl Group, the parent company of parcel lockers company InPost, has raised aboutPLN 147m (€34.5m) through a share sale to fund further international expansion of its lockers
network.The group, which is listed on the Warsaw Stock Exchange, said it made a private share placementto some 150 Polish and foreign institutional investors to raise the funds.
“The significant broadening of the shareholders’ base, encompassing foreign institutionalinvestors (approximately half of all investors in the private placement) constituted yet anothermilestone for the Group,” commented CEO Rafal Brzoska. He owns about 39% of company shares,according to information on the company website.
Integer.pl said the new funds would be used for expansion of the InPost ‘easyPack’ parcellockers network in Poland and abroad. “The international expansion of InPost parcel terminals isthe top priority, considering the double-digit growth being seen in the e-commerce sector. We wantto be one of the leading players in this new high-growth segment,” Brzoska confirmed.
“In recent months we have been exploring and contracting locations for new machines – over 500new terminals. We have a strategy to provide about 3,500 machines in different countries in 2013.The investment is estimated to be about €70 million. Therefore, we’re not ruling out furtherundertakings aimed at funding the Group’s development, especially if investors’ interest continuesto be as significant as in this placement,” he added.
Brzoska has stressed in the past that the group will start on make a profit on its foreigninvestments in parcel terminals in 2014 and expects annual international revenues of some PLN 20-40million a year from the network in the next few years.
The commercial launch of InPost parcel lockers in the UK at the end of April 2013 initiated anew sales strategy regarding the automated terminals, the company explained. “The combined businessmodel based on open collaboration with partners and developing an own international network ofInPost parcel lockers will be continued abroad.” The UK aside, the plans for 2013 include France,Hungary, Turkey, Norway and Sweden while over the next two years InPost parcel lockers could beinstalled in the Americas, and later also in Asia. All these projects may reach up to €1 billion ininvestments, according to the company.
The original core business of the group is unaddressed mail and parcels delivery in Polandthrough its network of 109 regional branches, workforce of delivery staff and existing network ofparcel terminals. Over the last few years it has focused strongly on exporting the terminals to newmarkets through cooperation agreements with postal and parcel operators.
Last year Integer.pl Group increased revenues by 13.2% to PLN 282 million, increased operatingprofits by 82% to PLN 51.8 million and doubled net profits to PLN 49.4 million. In the firstquarter of this year, the company increased revenues by 9.6% to PLN 83 million with net profits ofPLN 5.68 million.
