Owner estimates Nova Poshta’s worth, announces plans for European business
Photo: Nova Poshta

Nova Poshta. one of Ukraine’s largest private postal services, plans to further expand in Europe, its co-owner Viacheslav Klymov told Forbes Ukraine in an interview on Wednesday.

In a wide-ranging interview, Mr Klymov revealed he estimates the company is now worth more than EUR 1 billion, although more concrete talk would be possible after Ukraine wins the war against Russia and "when multipliers appear for Ukrainian companies".

"Long before the war, companies in our industry used to get a multiple of about 10 in a conservative scenario. We have colleagues from the Polish company InPost, which develops post offices; they have the No. 1 network in Europe, and we have the No. 2 network.

"So InPost went public at the end of 2020 with an IPO valuation of about EUR 8.5 billion. I think they [multipliers] will appear after we win, then it will become clear for sure. We are confident that everything is going well."

Nova Poshta is one of the largest postal services in Ukraine, co-founded and owned by businessmen Vyacheslav Klimov and Volodymyr Popereshnyuk.

The group includes Ukrainian and international companies, including Nova Poshta; NovaPay; Nova Global; Nova Post in Moldova, Lithuania, Poland, the Czech Republic; and Supernova Airlines.

Since late 2022, Nova Poshta has been expanding internationally by opening offices in the EU countries. It plans to have invested about EUR 10 million in international markets, Mr Klymov said, and in 2024 the sum will "definitely be higher".

"We have now completed six months of expansion, we have experience, and the management model that worked before is no longer effective enough. That is why we will have a meeting on Friday to discuss a new expansion management model.

"We will have a separate company called Nova Post Europe, with its own CEO, with its own separate apparatus. It will be a separate business unit," he added.