GeoPost/DPDgroup today announces record annual results, with a 14.8% increase in revenue, more than 2 billion parcels delivered worldwide and an operating profit above 1 billion euros for the first time in its history. In an environment still impacted by the global health crisis, which contributed to the strong growth dynamics of e-commerce, GeoPost/DPDgroup played its part to support the rebound of economy activity across the world.
In 2021, the company launched its "Together & Beyond" strategic plan, with the aim to make GeoPost/DPDgroup the international reference in sustainable delivery and a leading enabler of the e-commerce acceleration
In 2021, GeoPost/DPDgroup built on the momentum of 2020 and delivered strong operational and financial performance. The company consolidated its development in key segments, while continuing its international expansion:
€14.7 billion in revenue, up 14.8% from 2020, already a record year[1]
Operating profit above €1 billion (€1.057 billion), up 25% from 20201
2.1 billion parcels delivered worldwide, equivalent to 8.4 million parcels per day
GeoPost/DPDgroup broke its daily volume record with 12.2 million parcels handled in Europe on Cyber Monday in November 2021 (+2% versus 2020)
Strengthening of the company's position in Europe and internationally, with the takeover of Speedy AD in Bulgaria and DPD Romania and the acquisition of TIPSA in Spain, with the increase in its equity stake in Ninja Van (Southeast Asia) and with an equity investment in Aramex (Middle East)
Developed out-of-home delivery with the acquisition of 25% of PUDO24, a network of lockers in Spain and Portugal, and the deployment up to 70,000 Pickup points (lockers and parcel shops) in 31 countries
Accelerated growth in specific market segments such as healthcare and food services, through organic growth and acquisitions such as Epicery (majority stake) in France and BK Pharma Logistics in the Netherlands
Yves Delmas, CEO and COO Europe of GeoPost/DPDgroup, said: “The results achieved in 2021 are impressive and consolidate GeoPost/DPDgroup's powerful growth momentum: in the span of two years, revenues have increased by more than 60% and the company’s operating profit has more than doubled. This remarkable performance was made possible by the daily commitment of each and every member of our team. These results are a testament to the exceptional work of Boris Winkelmann, Chairman and CEO of GeoPost/DPDgroup, whose tragic death last December deeply moved us all.”
A market environment leaning towards normalcy
2021 was once again shaped by the global health crisis, which impacted consumer habits and behaviour and continued to support strong growth in e-commerce in Q1, with a 34% increase in volumes of parcels handled by GeoPost/DPDgroup. From Q2 to Q4, with the end of the lockdown in most countries, business growth returned to near pre-Covid-19 levels at 7%, and over the full year, volumes increased by 14% vs 2020.
As illustrated by GeoPost/DPDgroup’s 2021 e-shopper barometer, some pandemic trends are here to stay, such as the growth of the food segment: a full 35% of regular e-shoppers have ordered fresh food and beverages online since January 2021.
In 2021, GeoPost/DPDgroup started to successfully implement its 2025 strategic plan
As part of La Poste Groupe's strategic plan, GeoPost/DPDgroup has outlined its transformation path to 2025, with the ambition to become the international reference in sustainable delivery and a leading enabler of the e-commerce acceleration, as well as achieving a turnover of €25[2] billion. This trajectory is mainly based on 3 pillars:
Expand core activities
Accelerate initiatives in strategic segments
Conquer new horizons
Expanding core activities
In 2021, GeoPost/DPDgroup continued to strengthen its core business through significant operations such as the takeover (69.8%) of Speedy AD in Bulgaria and DPD Romania, the acquisition of 100% of TIPSA in Spain, 100% of Fast+Furious in South Africa, and the merge of Geis parcel activities in DPD Czech Republic and Slovakia.
GeoPost/DPDgroup is now the leading international parcel delivery network in Europe, with strong positions in most countries:
1 in France, Italy, Spain, Poland, Ireland, Slovakia, Lithuania, Latvia,
2 in Germany, the UK, Austria, Belgium, Portugal, the Czech Republic, Bulgaria and Estonia,
3 in Russia, Switzerland, Croatia, and Slovenia.
GeoPost/DPDgroup also invested an additional €562 million to expand the company’s delivery capacity, including for the construction of new hubs (DPD Benelux, DPD France and Chronopost) and depots (DPD Germany, DPD UK, DPD France and Chronopost).
Accelerating initiatives in strategic segments: out-of-home, healthcare, and food services
In 2021, GeoPost/DPDgroup continued to deploy its out-of-home delivery network and consolidated its growth in healthcare and food services, two expanding sectors.
Last year was marked by the deployment of the network of Pickup points (lockers and parcel shops), with for example the acceleration of the Shop2Shop offer (focused on C2C), or the acquisition of 25% of PUDO24, a network of lockers in Spain and Portugal. In the long term, GeoPost/DPDgroup plans to offer the best coverage in Europe with 100,000 Pickup points, with the aim of providing up to 90% of the European population with access to a Pickup point in less than 10 minutes. This deployment is already well under way, with 70,000 Pickup points active in 31 countries as of the end of December 2021, including through subsidiaries such as Fermopoint in Italy and partnerships such as the one with PostNord in Scandinavia.
GeoPost/DPDgroup seized the momentum on healthcare by acquiring BK Pharma Logistics, a Dutch company specialised in the temperature-controlled transport of pharmaceutical products for major national and international healthcare companies, and by consolidating the development of its subsidiary Biocair, a specialist in the delivery of pharmaceutical, biotechnology and life science products, which confirmed its strong growth trajectory with a 70% increase in revenue in 2021.
GeoPost/DPDgroup continued its growth strategy in the food services sector by acquiring a majority stake in Epicery, a French digital marketplace providing home delivery for fresh, local and high-quality products. With this strategic acquisition, GeoPost/DPDgroup expanded its solutions, particularly in the increasingly popular direct-to-consumer model. Online purchase of food product was one of the fastest growing segments in 2021. The health crisis has accelerated forecasts for online food purchase by almost 3 years. New trends are emerging, such as the demand for organic products, consumer preference for fair trade, and meal delivery. These trends are illustrated by the rapid developments of GeoPost/DPDgroup’s food delivery platforms such as DPD fresh in Belgium, SEUR Frio in Spain and Chronofresh in France, which grew by 41% and generated €90 million turnover. Overall, GeoPost/DPDgroup’s food segment grew by 48% in revenue in 2021 compared to 2020.
New urban services have also been developed with Stuart (expansion in Poland and Portugal), as well as with the acquisition of CitySprint, the leading company in same-day delivery services in the UK.
Conquering new horizons
The company’s international development outside Europe is one of GeoPost/DPDgroup's strategic priorities. As most of the growth in the parcel market will take place outside Europe*, reaching a substantial scale and building a global network in order to better meet the markets evolution in emerging markets driven by increasing demand for e-commerce, rising customer expectations for seamless last-mile delivery, and industry digitization.
In that perspective, GeoPost/DPDgroup continued its efforts in 2021 to find partners, investment opportunities and profitable growth drivers internationally, as illustrated by the increase of the company’s equity stake in Ninja Van to 40**%. Ninja Van is a fast-growing parcel delivery service company in Southeast Asia which has seen its delivery volumes grow from less than 30 million parcels in 2018 to nearly 500 million parcels in 2021. Southeast Asia is a region where the parcel delivery market has grown very rapidly over the past 4 years and has immense growth potential given the low take-up of e-commerce in most countries in the region.
Similarly, GeoPost/DPDgroup acquired a 24.9% stake in Aramex, a global player in express transport and logistics and a long-standing partner of GeoPost/DPDgroup. Aramex has developed an international platform and a global network from a strong position in the Middle East, Africa and Australia, markets only partially covered by GeoPost/DPDgroup. This investment will amplify the company’s international reach.
GeoPost/DPDgroup has also strengthened its operational collaboration with Asendia, a joint venture between La Poste and Swiss Post specializing in cross-border e-commerce. Following the announcement of its new strategic plan, La Poste Groupe, in agreement with its co-shareholder, has incorporated its shareholding in Asendia into the operational management scope of GeoPost/DPDgroup as of 1 July 2021. In 2021, Asendia generated a turnover of €2.2 billion (up by 22%) and acquired 100% of its subsidiary eShopWorld, which provides technological solutions for cross-border e-commerce.
A trailblazer in sustainable delivery
A true pioneer in this field, GeoPost/DPDgroup, announced in 2020 its commitment to cover 225 European cities cities (more than 50,000 people) with low-emission delivery solutions by 2025. Given the faster than expected deployment of these solutions, GeoPost/DPDgroup announced in 2022 that it would raise its ambition and increase the number of European cities covered to 350 by 2025. By then, the company will have deployed more than 15,000 alternative vehicles, 6,700 charging points, and 250 urban depots.
This will enable GeoPost/DPDgroup to drastically reduce its last-mile carbon footprint in the targeted cities, cutting annual greenhouse gas emissions by 83% and pollutants by 95% compared to 2020. GeoPost/DPDgroup remains fundamentally committed to sustainability, and all its subsidiaries are fully mobilized towards the company’s objectives.
In addition, since the end of 2019, GeoPost/DPDgroup has been deploying an air quality monitoring programme in partnership with local communities. Through sensors installed on its delivery fleet as well as in urban depots and pickup points, air pollution levels (such as fine particles PM2.5) are measured in real time. This programme is currently deployed in 15 European cities, including Lisbon, Paris and Madrid and more recently Prague, Bologna, Dublin and Warsaw. 1,151 mobile sensors and 175 fixed sensors have been deployed to date. GeoPost/DPDgroup intends to extend this data collection programme, to reach more than 20 European cities in 2022.
[1] Includes Asendia (full year results) as La Poste Groupe has incorporated its shareholding in Asendia into the operational management of GeoPost/DPDgroup since 1st July 2021.
[2] Includes Asendia as La Poste Groupe has incorporated its shareholding in Asendia into the operational management of GeoPost/DPDgroup since 1st July 2021.
* According to research by Oliver Wyman/Transport Intelligence, Europe is expected to account for only 19% of the global parcel market by 2025.
** on a fully diluted basis, considering all warrants and options giving rights to share
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