Nova Poshta doubles investment in 2024, bringing to UAH 8.5 bln

The NOVA Group of companies (Nova Poshta) doubled its investment volume in 2024 – to UAH 8.5 billion compared to the 2021 figure, said NOVA CFO Petro Fokov.

"NOVA Group's investments this year (2024) will amount to UAH 8.5 billion. And this is twice as much as the investment amount in 2021," he said at the Ukrainian CFO Forum on Thursday.

According to the CFO, the group is investing in areas that make it possible to increase the speed, ease and reliability of delivery.

Fokov defined four main components of the NOVA group investment program: development of a network of branches and parcel terminals in Ukraine, which includes opening new ones, repairing and bringing existing ones up to standards, as well as building shelters and safety capsules, including in branches located in frontline areas.

Another component is investments in the automation of sorting centers.

"Including new services, in particular, fulfillment – logistics outsourcing, in which an online store transfers goods for storage and order picking to a logistics operator," the NOVA Group CFO said, adding that the service allows significantly accelerating the delivery of shipments to customers.

An important component of NOVA investments is energy independence. The group invests in solar panels and gas cogeneration in order to produce electricity for its own needs.

Separately, Fokov highlighted investments in the international direction – the NOVA group operates in the markets of 15 countries.

"And even this year, our first foreign country has become profitable, although most have not yet – they are still approaching the break-even point," Fokov said.

In addition, NOVA sent UAH 1.5 billion to help the Armed Forces of Ukraine.

The CFO named the group's own and borrowed funds as the main sources of investment financing. In particular, this is a UAH 3 billion loan from the European Bank for Reconstruction and Development (EBRD), which was received in 2024.

"This year, we've signed an agreement for UAH 3 billion with the EBRD. We received our first loan six years ago for a minimum amount of UAH 180 million. We built the facility and repaid the loan on time, now we have a strong (credit) history of UAH 3 billion," Fokov stated, adding that the EBRD is lending to NOVA Group in hryvnias.