Evri serves up record deliveries as online shopping soars
Evri delivered 730m parcels in the 12 months to March, a 14.9 per cent year-on-year rise that helped profit more than double.
Evri said it delivered a record number of parcels in 2023/24 as demand for online shopping soared in the UK.
Some 730m parcels were distributed to British households in the 12 months to March, a 14.9 per cent year-on-year rise.
The demand helped Evri bring in record pre-tax earnings (EBITDA) of £292m, up by nearly a third on the prior year and following a £32m investment in the group’s operations and customer service segments. Revenue rose 15.2 per cent to £1.7bn.
“The growth of online marketplaces including value-led market entrants and the rising popularity of pre-loved fashion, which shoppers see as an affordable and sustainable option, have reshaped shopping habits,” Martijn de Lange, chief executive of Evri, said.
“Our differentiated, flexible business model and focus on service means the business is well placed to take advantage of new consumer trends, such as these.”
It comes after Evri, formerly known as Hermes, was snapped up by Apollo Global Management for £2.7bn in July, taking it off the hands of its former private equity backers Advent International.
Competition in the UK delivery market, traditionally monopolised by Royal Mail, has been hot in recent years, due primarily to the rise in online shopping.
Evri also announced plans to hire 8,000 new staff over the summer, along with around 1,000 warehouse and other supporting roles.
“This unique model together with the business’ track record of growth, and progress in executing our ambitious business plan were key factors that attracted Apollo Funds to acquire Evri in August,” de Lange added.
“We are confident of further success under our new owner, who is committed to accelerating our growth strategy.”
