Ukraine’s Nova Poshta blows by pre-war profits, makes almost $90 million in 2023 — 5x pre-war level

Nova Poshta
Nova Poshta

Nova Poshta, Ukraine’s leading postal operator, has shown significant growth in all operational and financial aspects for the first nine months of 2023, announced the company’s press service.

The company delivered 290 million parcels and cargoes, marking a 10% increase compared to the same pre-war period in 2021.

Nova Poshta invested 2.4 billion UAH ($67 million) in expanding its operations, focusing on building sorting centers, expanding IT infrastructure, and opening new branches, particularly in front-line and de-occupied areas.

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The expansion included launching 1,646 branches and 1,800 automated postal terminals. This brings the company’s total network to almost 11,000 branches and 14,600 automated terminals.

Read also: Russian missile hits Nova Poshta terminal in Kharkiv Oblast, six dead, 16 injured, as ‘no time to reach shelter’

Financially, Nova Poshta posted a net income of 25.748 billion UAH ($715 million), along with an operational profit of 2.739 billion UAH ($76 million) and a net profit of 3.208 billion UAH ($89 million). The company also made significant contributions to government budgets, paying 6.4 billion UAH ($178 million) in taxes, and the group’s total tax and fee contribution to government budgets amounted to 7.8 billion UAH ($216 million).

Nova Poshta’s commitment to social responsibility was evident through its delivery of 600,000 shipments for 1,780 charitable foundations and volunteers, as well as a substantial investment of 989 million UAH ($27 million) in various initiatives, including support for the Ukrainian Armed Forces.

The company’s net profit nearly quintupled in the first half of the year.

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Read the original article on The New Voice of Ukraine