The results cover a period in which Evri was acquired by Apollo Funds in August 2024. Volume growth was observed across multiple segments, including international inbound (+26% YoY), SME deliveries (+62% YoY), and eCommerce (+3% YoY). UK corporate parcel volumes rose 1% compared to the previous year.
Evri invested £57 million in its operations and technology during FY25, including the opening of new depots in Tyneside, Pen-y-Bont and Sheffield. The adjusted EBITDA margin improved to 18.4%, up 80 basis points year-on-year, supported by pricing activity, efficiency gains and cost optimisation.
Free cash flow increased to £191 million, and operating free cash flow conversion stood at 101%. Net debt at the end of the period totalled £1.78 billion, corresponding to a leverage ratio of 4.0x (or 4.7x including run-rate savings).
The company’s earnings after tax were negative £73.5 million, primarily due to adjusting items such as £45 million in acquisition costs, £9 million in refinancing expenses and a £24.5 million write-off of pre-acquisition debt costs.
Post-period, Evri announced a planned merger with DHL eCommerce UK, under which DHL would acquire a significant minority stake. If approved, the combined business would deliver over 1 billion parcels and 1 billion business letters annually. The enlarged group would operate multiple networks tailored to B2B and B2C deliveries, with a combined ParcelShop and Locker network of over 10,000 locations.
Evri also acquired Irish customs clearance and logistics firm Coll-8 in May 2025. The deal is expected to reduce delivery times in the Republic of Ireland from five to two days, expand access to Coll-8’s 500 pick-up and drop-off points, and enable automated duty recovery on returned goods for UK retailers.
Further reading: This mistake could cost your haulage business €5,000. And Germany’s not messing around
In June 2025, the company announced a further £50 million investment to double its ParcelShop and Locker network to 25,000 locations by 2030.
Evri’s delivery infrastructure included 100 additional eCargo bikes rolled out during FY25. The company reports that around 3 million parcels per year are now delivered using bikes or electric vehicles, with plans to expand the eCargo fleet to 3,000 over the next decade.
The company stated:
“The business enters the next phase of its history with a year of top-line growth, margin expansion and strong cash generation.”
Evri also introduced new accessible delivery options in partnership with Scope and added enhanced features to its customer app. According to the company, its delivery performance remained at 99% on-time, with an internal Net Promoter Score rising to +64.
As of March 2025, Evri employed around 8,800 staff and worked with 28,000 self-employed couriers. Average courier pay was reported at £20.86 per hour under the firm’s self-employed plus (SE+) model.
Evri marked its 50th year of operations in 2024. The company originated in Yorkshire in 1974 and currently handles close to 900 million parcels annually.
In case you missed it: Is business worried about an EU–US trade war? The data tells the story
