Polish e-commerce group Allegro to pilot own parcel lockers

The full version of the article, along with thousands like it, can be found on the following page: Polish e-commerce group Allegro to pilot own parcel lockers

Allegro

Polish e-commerce stage Allegro is likely to pilot its own delivery lockers, its chief financial officer said on Thursday, after reporting third-quarter outcomes and raising its entire year profit advice.

Polish media has speculated that Allegro plans to purchase InPost, which has a network of parcel lockers where customers can collect their purchases out of Allegro's online service.

He said no decision had been taken on what would happen after the pilot.

He declined to comment on the InPost speculation.

Allegro, which listed in Warsaw back in October, said it was targeting an increase in gross product value of slightly over 50% for the entire year and much more than 20% to get corrected core profit. Shares in Allegro were down 4.5% at 1004 GMT. MBank analyst Pawel Szpigiel said the market might have been expecting more.

"The set of results are in line with expectations and... the revised guidance suggests Q4 EBITDA growth would not be as high as so far this year," he explained.

Eastick explained a government decision to shut most stores in shopping centres in November to curb the coronavirus had led to the company raising its advice.

"Obviously similar to the second quarter we are seeing some extra demand coming through because we are the main place that the buyers can satisfy all their demands on things other than groceries," he explained.

But with shopping centres reopening in the run-up to Christmas, Eastick said the expansion rate in December would not be quite as strong.

For the next quarter, adjusted centre gain, without non-recurring IPO expenses, was 408.5 million zlotys (approximately $108.77 million), up 26.7% year-on-year.

The team at Platform Executive hope you have enjoyed this news article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Alan Charlish and Gdansk Newsroom. Editing by Jane Merriman.

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