NOVA Group increased investments 2.5 times and plans to use $180 million in 2024

NOVA Group increased investments 2.5 times and plans to use $180 million in 2024

The NOVA Group, which includes the largest logistics operator Nova Poshta, invested UAH 5.3 billion in Ukraine in 2023, which is 2.5 times higher than the investment budget for 2022 (UAH 2.1 billion)

Nova Poshta's level of faith in the future of Ukraine in 2024 is even greater: for the current year it is planned to increase the amount of investment to UAH 7 billion.

NOVA also increased its tax payment by one and a half times in 2023 – to UAH 10.7 billion. It is clarified that, in particular, Nova Poshta transferred UAH 8.7 billion in taxes, NovaPay - UAH 1.2 billion.

Last year, the largest volume of capital investments by NOVA—UAH 2.4 billion—was directed toward the construction of new sorting terminals and automation of existing ones. It is noted that this allows the company to ensure an uninterrupted delivery process in the face of constant growth in cargo volumes and not lose speed: today the company delivers 1040 parcels every minute, and on peak loading days - 1400.

Another major investment item for NOVA is the development of a network of branches and parcel terminals with the aim of being within walking distance to them, into which UAH 1.1 billion was invested. As a result, the Nova Poshta network in Ukraine already includes more than 27 thousand service points.

Also, funds from NOVA’s investment budget in the amount of UAH 1.2 billion were allocated to automating workplaces and renovating departments to make them convenient and barrier-free to use for different groups of consumers and employees.

It is clarified that NOVA allocated UAH 233 million for updating the transport fleet and BDF containers in 2023, UAH 338 million for IT and R&D, and UAH 17 million for the development of fulfillment.

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