Ukraine’s Nova Group, which includes logistics operator Nova Poshta and financial services firm NovaPay, plans to triple its size over the next five years and climb into the world’s top 20 postal and logistics companies, co-founder Volodymyr Popereshnyuk said, reported Ukraine Business News.

Popereshnyuk said the group, currently among the top 30 global logistics players, has set an ambitious strategy to accelerate growth despite the ongoing war in Ukraine. “Our goal is 300% growth in five years and to join the top 20 logistics companies in the world,” he said.

Nova Group has sharply increased investment in domestic and international expansion. In 2023, the company invested UAH5.3bn ($137mn), 2.5 times more than in 2022. It plans to raise investment to UAH7bn in 2024, focusing on new infrastructure, automation and international development.

According to the company, much of last year’s funding was directed towards building new sorting terminals and upgrading existing ones to process growing parcel volumes. Nova Group paid UAH10.7bn in taxes in 2023, an increase of 50% on the previous year.

The group is also expanding abroad. Its Nova Post brand now operates in 15 European countries, including Poland, Germany and Italy, offering cross-border parcel and freight services.

Popereshnyuk said strong financial performance, growing international demand and continued investment will underpin the company’s long-term expansion, despite wartime challenges at home.

“We are growing, investing and competing globally,” he said.