Ukraine's Nova Poshta to enter Slovak market in Oct

MOSCOW. Aug 21 (Interfax) - Ukraine's Nova Poshta Group of Companies has announced the opening of its branches in Slovakia in October 2023 under the Nova Post brand.

"Starting from October, Ukrainians will be able to easily and promptly send to and receive documents and parcels weighing up to 100 kg from their relatives in Slovakia," Ukrainian media quoted Nova Poshta as saying in a press release on Monday.

The first Nova Post branch will be set up in Bratislava and will be open from Monday to Saturday, it said.

The service of delivering items to a specified address and calling a courier to any address to collect items for posting will also become available in Slovakia some time after the first Nova Post branch is put into operation, the company said.

Nova Poshta said earlier that it would also enter the markets of Latvia and Estonia in the fall.

Nova Post branches currently operate in Lithuania, Poland, the Czech Republic, Moldova, Romania, and Germany.

Nova Poshta had more than 10,000 branches and over 14,000 automated parcel lockers across Ukraine as of the beginning of July.

According to Standard-Rating data, Nova Poshta's revenue increased by 2.1 times to 8.083 billion hryvni, EBITDA grew by almost 4.4 times to 1.307 billion hryvni, and its net profit soared by nearly eight-fold to 1.054 billion hryvni in the first quarter of 2023.