Trading Update – Quarter 4 FY21 (April – June 2021)

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Summary – Financial targets exceeded with record volumes achieved

Financial highlights

– Overall increase in volumes in Q4 FY21 (April – June 2021) of 12% compared to Q4 of FY20

– Total volumes in the twelve months to June 2021 have grown by 28% compared to the twelve months to June 2020 (26% growth if re-stated for 53 weeks in 2020/21)

-Full-year FY21 (year ending June 2021) revenue was slightly over the previous guidance of £563m, up from £430m in FY20

– Yodel ended the year being strongly profitable at the Profit before Taxation (PBT) level in the year to June 2021

Strategic and operational highlights

– Invested over £14m in Yodel’s fleet, including tractor units and trailers which will help the business handle increased parcel volume, following a record year for online retail

– Trustpilot rating has remained at 4.6/5, reinforcing Yodel’s position as a leading parcel carrier in the UK market

– Launched an LGV apprenticeship scheme across the UK allowing applicants to train for a category C+E license at one of three national sort centres

– Continued Yodel’s commitment to being a Forces Friendly Employer by supporting veterans getting back into work through the Veterans in Logistics scheme and continuing our partnership with Walking with the Wounded.

– Relaunched consumer-to-consumer service, Yodel Direct, which will allow individuals and small businesses to conveniently ship parcels directly between one another.

Mike Hancox, CEO of Yodel, commented: “FY21 has been the most successful year in Yodel’s 13-year history, delivering a profit well beyond all forecasts and our strongest PBT result ever. Thanks to the tireless work of our colleagues across the country, coupled with our expert handling services, we improved our overall performance which helped finish FY21 very strong.

“Over the past year we’ve signed multiple new clients including Hello Fresh, JD Sports and Yours Clothing and we’re expecting our client base to continue to grow. We also have a solid pipeline of new business opportunities, such as Yodel Direct – our re-launched customer-to-customer service offering – which will deliver further growth in the new financial year. Despite restrictions easing, the e-commerce market continued to grow throughout the pandemic, and we believe that, thanks to consumers’ appetite for home delivery, the shift online is set to become permanent.”

Results for the year ended 2021:

Yodel’s audit will be conducted on a remote basis and we currently expect to release its results for the year ending 30th June 2021, prior to the end of December 2021. A further announcement will be made in due course.

END