“Nova Poshta is growing in revenue but losing in profit: what is happening to the logistics leader
4 August 2025 22:01
In the first half of 2025, the NOVA group of companies, which includes Nova Poshta, showed a 22% increase in revenue to UAH 24.57 billion. However, despite the positive revenue dynamics, the company’s net profit decreased by almost 20% to UAH 1.2 billion compared to the same period last year, "Komersant Ukrainian" reports, citing the company’s press service.
The reasons for this gap between profit and revenue are a sharp drop in financial income (from UAH 1.34 billion to UAH 341 million) and an increase in income tax (from UAH 83.4 million to UAH 227 million). At the same time, the company’s operating profit increased by 45.6% to UAH 2.44 billion and gross profit by 30.8% to UAH 5.05 billion. This demonstrates the continued high efficiency of the core business despite macroeconomic challenges.
Bonds and debt service
In 2025, Nova Poshta intensified its work in the debt market. In May, the company announced the issuance of UAH 1 billion of H series bonds, with a fixed rate of 16% in the first year and a variable rate (UIRD 3 pp) in the next three years. This was in addition to the previous issues: Series E, F and G, each for UAH 1 billion.
The company is actively preparing for the repayment of debts under these series in 2025-2027. As of the middle of the year, the amount of liabilities is as follows:
- series E – UAH 995.8 million (maturity – July 2025);
- series F – UAH 998.5 million (June 2026);
- series G – UAH 999.4 million (May 2027).
The proceeds will be used for infrastructure development:
- 35% – to expand the terminal network;
- 30% – to upgrade the fleet and containers;
- 20% – for logistics;
- 15% – for digital tools.
Staff optimization: 2900 employees to be laid off
By the end of 2025, Nova Poshta plans to cut up to 10% of its staff, which corresponds to about 2,900 employees. The company explains this as a step in restructuring and improving management efficiency.
The reduction has been agreed with the European Bank for Reconstruction and Development (EBRD), NOVA’s partner in a EUR 50 million loan agreement. The Bank approved the restructuring model, noting the transparency and social responsibility of the process.
The restructuring includes optimization of office processes, development of IT infrastructure, energy efficiency and modernization of logistics centers.
Read also: “Nova Poshta lost UAH 800 million in assets due to the war: what happened to Ukrainians’ parcels
Taxes and investments
In the first half of 2025, the company paid UAH 6.1 billion in taxes, and the entire NOVA group paid UAH 7.9 billion. For comparison, last year this figure was UAH 5.8 billion.
The volume of investments in January-June amounted to UAH 1.9 billion (compared to UAH 3.6 billion last year). The money is being spent on network development, digitalization of services, energy transition, and strengthening the logistics base.
Market and prospects
In the first half of the year, Nova Poshta delivered 238 million parcels, up 7% year-on-year. Almost 6 million of them were international. The company maintains its leadership in the delivery market while adapting to changes in consumption, logistics and finance.
Analysts note that 2025 was a year of transition from growth to stabilization: the company is reviewing its cost structure, reducing staff, diversifying funding sources, but not slowing down its development.
“Nova Poshta maintains its growth dynamics despite a decline in net profit. The company focuses on modernization, debt servicing and adaptation to new financial realities. At the same time, the state receives record tax revenues, and consumers receive stable service even in difficult conditions.
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