InPost ends with the letters – Puls Biznesu

She was to be restructuring, will be liquidation. InPost Stock Exchange at the end of the session on Thursday announced that it was withdrawing from the activity in the segment of traditional letters, which has so far brought him most of the revenue, but ceased to be profitable. Two months ago, the company reported a planned deep restructuring in this segment, which – due to the termination of unprofitable contracts with large business customers and the withdrawal of the major cities – was allowed to continue operating. Now it decided to completely abandon ordinary letters.

“The decision was taken after a detailed analysis of the model of this activity and based on the results previously carried out restructuring activities segment sheet, which indeed resulted in savings at the level expected by the board, but due to the drastic drop in revenues and the lack of opportunities for further cost reductions were insufficient to achieve the intended results, “- said in a statement the company.

InPost, who recently announced the release of 1.25 thousand. employees, dealing with the handling of letters, says that the cost of termination of business will be smaller than the potential loss, which at lower volumes suffer for handling letters to the end of the year.

: the decision to end operations letter should result in cost reductions and savings that will be used for the development of services prospective associated with the roar of e-commerce, such as, in particular a list of recommended e-commerce, smartcourier and enhancing the capacity of handling parcels and courier paczkomatowych “- reads InPostu.

Recall that created by Rafal Brzoska InPost entered the the stock exchange in October last year, when it was separated from the parent company, which Integera.pl. In the public offering of its shares were sold for 25 zł – and the debut price has declined steadily. On Thursday, the shares were paid 8.65 zł, or about 65 percent. less than in the IPO.

Shortly after the debut of InPost he lost the most, providing more than 40 percent. revenue contract to operate the courts and prosecutors’ offices, which required him to build a nationwide network. In the first quarter of this year – the part of which still were serviced courts – the company had 82.4 million zł revenue from the segment sheet and 49.3 million zł segment courier. Letter operations recorded a 13.9 million zł operating loss, while the activities of courier brought the more than 4 million zł profit at this level.