InPost SA 2026年第二季度财报电话会议纪要

发布时间：2026-09-01 一、AI总结内容 一、核心要点 1. 2026年第二季度InPost集团整体业绩：处理包裹超3.18亿件，同比增长16%；营收42亿波兰兹罗提，同比增长18%；调整后EBITDA达10亿波兰兹罗提，同比增长4.4%；EBITDA利润率降至25%。 2. 网络规模进展：截至2026年第二季度末，运营超9.8万个户外网点，累计超10万个自提柜（APM）网点，过去12个月新增1.56万个自提柜；波兰、法国、英国拥有最大的自提柜网络，欧洲大陆自提柜网络规模领先。 3. 区域业务表现：波兰包裹量同比增长9.5%至1.98亿件；欧元区包裹量同比增长30%至超1亿件；英国包裹量同比增长6%至15%（原文提及Q2英国包裹量8200万件，同比增长6%-15%），Yodo品牌于2026年7月更名为InPost。 二、投资线索 1. 2026年全年及第三季度展望：全年集团包裹量预期同比增长中高个位数（波兰中个位数、欧元区20%以上、英国30%左右），营收同比增长中高个位数；全年调整后EBITDA预期同比下降中低个位数；第三季度包裹量预期同比增长低个位数，受欧盟海关费用调整影响波兰及欧元区国际平台包裹增速放缓。 2. 合作事项：InPost计划于2026年9月在英国和波兰为联邦快递（FedEx）推出最后一公里递送服务试点。 三、风险与关注 1. 英国业务转型期间仍处恢复阶段，EBITDA利润率较低；中国相关包裹业务占比及毛利率波动，影响整体业务结构。 3. 欧洲电商增速及合规政策变化，可能对包裹量及成本产生影响。 二、音频原文（转写） Good morning, my name is Gabriela Buzak and I'mthe Investor Relations Director at Inkost. Welcome to Inkost's second quarter 2026 earnings call. The usual disclaimer, today's call includes forward looking statements that are subject to this, and it is possible that the actual results may differ materially. This call is also being recorded and the recording will be available on ourIR website shortly after we wrap it up today. After this fact, we will have a Q and A session.Today's presentation Mr. R. Raffaubrousska, CEO Michael Raus, CEO International and Javier Hanen-Gelen CFO of Impulse Group. I am now pleased tohand over to our CEO, Raffaubrousska. Good morning everyone. Thank you, Gabian. Thank you all for joining us today. Q22026 was a quarter of continued growth for Impulse Group, though the picture was more mixed than in previous quarters, with strong momentum in the eurozone tempered by the ongoing transformation. of our UK business. In total, we handle over 318 million parcels. upsixteen percent. year on year. revenue reached.four point two billion dollars lot. up 18%, onceagain growing faster Then volume. The job for the BDA. came in at just over 1 billion dollars lot. up around four percent and Capex was half abillion. of seven percent. International marketsnow account for fifty four percent of group revenue underlining just how much of our growth isbeing driven outside of Poland. Let's take a look at how our network continues to scale over thepast 12 months. at the end of Q2, reoperated over 98,000 out-of-home points And today we can say we've already crossed. one hundred thousand out of one point and seventy thousand APMs. over the last 12 months. We added. 15600 new a p m. which is the record high deployment we have ever On kudos, you will see a decline of about 5,500 points across all 3 regions. that's a deliberateoutcome of our network optimization strategy aswe continue to shift the network mix towards ATMs. We remain the number one APM network in Poland, France and in the UK. IBR has also recently become the largest Docker network in its market And we continue to hold the number to position. in italy we start Let's turn to update component.Poland delivered consistent volume growth in Q2, at nine. point five percent to one hundred andninety eight million parcels. atm volumes werebroadly stable at just one, while two-door volumes grew forty six. again, largely driven by demand from international marketplaces. excluding th e top five marketplaces, our volumes grew sixteen. once more, ahead of the broader e-commerce market, with domestic merchants, particularly in fashion and beauty, continuing to perform strongly. let's move on to the next page. Poland continues to operate the largest APM network in the country, and in Q2, the number of input machines grew 12% to nearly 30,000. The intensity keeps improving accessibility, 90% of the urban population and 66% of the total population now lives within a 7-minute walk to an input APM. Consumer preference remains exceptional. According to the latest cancer survey conducted in June, Ninety six percent of consumers now receive partial via input blockers and ninety one percent use them tosend parcels. both figures improving yet. AGAINversus the previous survey keeping us the clearmost Favorite APM network in Poland. Next slide, please. build the network. our advantage comesfrom. x. extremely loyal and engaged user base.which we show you every quarter. TODAY around 26 million people. Effectively, the entire Polishe-commerce population use invoice atm and to door services. of these. twenty one million are regular AP users including 17 million app users and 15 million loyalty programme participants. This engagement shows up directly in our NPS. Enfoss scored 76. well ahead of the next 4 players who are all in negative territory. 华为有分。 are at the heart of everything we do. We investin their experience. convenience and engagement.because ultimately It is their trust. and everyday choice of input that drives our volumes andour growth. with us Let me hand over to Michael.Who will take you through our international performance? Thanks for your help. Good morning everyone. 嗯 So let me start with our eurozone business. whichhad another strong quarter. Volume grew 30% to over