Ukraine's Nova Post to boost investment in Moldovan market 4.5-fold in 2024

MOSCOW. Aug 29 (Interfax) - Ukraine's Nova Post is set to boost investment in the Moldovan market to $880,000 in 2024, which is 4.5-times more than invested in 2023, Ukrainian media said, citing the company's press service.

"Most investments aim to expand our network, refurbish offices, automate workplaces, upgrade IT infrastructure, and increase the courier motor pool," Nova Post Moldova CEO Sergei Shapran said.

In addition, Nova Post plans to create a new sorting hub in Moldova in 2025 to provide fulfillment services to business clients.

According to the company, Nova Post has built a network of 21 offices, 261 parcel terminals, and three sorting terminals in Moldova over ten years of operations.

It was also the first on the Moldovan market to open parcel pickup points at existent businesses, such as stores, gas stations and so on. There are 53 pickup points in Moldova now, and the company plans further expansion of the network.

Nova Post delivered 1,1 million parcels in Moldova in the first half of 2024, which is almost as many as throughout 2023 (1.2 million), and paid 12.5 million lei of taxes to Moldova's local budget, the company said.

In Moldova, Nova Post delivers parcels from Chinese, U.S. and Ukrainian marketplaces, as well as from and to Romania.

The company is working on Moldova's integration into the Nova Post Europe system, which will enable clients to send and receive parcels from 13 European states.

The company delivered 771,000 cross-border parcels in the first half of 2024, versus 590,000 in 2023.

As reported, Nova Post increased its consolidated net income by 22.6% to 24.45 billion hryvni, while its consolidated net profit decreased by 36.9% to 1.48 billion hryvni in the first half of 2024.