Nova Post net profit drops almost by half in Jan-Sept 2024 YoY

MOSCOW. Nov 1 (Interfax) - Nova Post (Nova Poshta), Ukraine's express delivery market leader, reduced its net profit by nearly 48% to UAH 1.65 billion in January-September 2024 year on year.

Nova Post's net income grew by 16.4% to UAH 30.81 billion in this period, Ukrainian media reported with reference to Nova Post's interim financial report for January-September published in the disclosure system of the National Securities and Stock Market Commission (NSSMC).

The company's gross profit grew by 6.4% to UAH 5.86 billion, while its operating profit declined by 10.5% to UAH 2.44 billion.

Nova Post delivered 336 million parcels and other items in January-September 2024, which is 16% more than in the same period last year.

Nova Post opened 5,518 new outlets and parcel lockers in January-September 2024, expanding its network nationwide. The company paid UAH 6.7 billion in taxes in this period, which is 4% more than in the first nine months of 2023.

Since the start of 2024, Nova Post invested UAH 4.1 billion in its development, which is 70% more than in the same period in 2023 (UAH 2.4 billion).

Nova Post provides a full range of logistical and distribution services, delivering both small parcels and large-size freight. Its services include express delivery of documents, parcels, and large cargo to a specific outlet, parcel locker, or postal address, courier services for businesses, organizations, and private individuals, as well as loading and unloading, warehouse, storage, and transport services.

Nova Post operates around 10,000 outlets and over 15,000 parcel lockers in Ukraine, and the average number of its employees is 27,364.