The net profit of Nova Posta LLC for the first half of 2023 amounted to UAH 2 bln 402.5 mln, which is almost five times higher than in the first half of 2022 (UAH 483.9 mln), according to the updated rating of the company at the level of “uaAA” from the rating agency Standard-Rating.
According to its report, Novaya Posta’s revenue for January-June increased by 83.9% to UAH 16 billion 743.8 million.
It also points out that the company’s EBITDA profit in the first half of 2023 also grew strongly – more than 2.2 times, to UAH 2 billion 910.1 million.
“The analysis of the statements for the first half of 2023 indicates: a high level of coverage of liabilities by equity capital, a very high share in the structure of equity capital of retained earnings, an increase in business volumes, weighty financial results, as well as a high level of coverage of the company’s liabilities by its income,” the rating agency noted.
It specified that at the end of the first half of 2023, such improvement of indicators allowed to increase the ratio of EBITDA to long-term and current liabilities from 14.33% to 28.04%, and the same indicator for EBIT profit – from 5.21% to 17.72%.
According to the publication, Nova Posta’s equity capital for the first half of 2023 increased by 36.9% to UAH 8 billion 918.6 million, while liabilities – only by 12.4% to UAH 10 billion 379.4 million.
It is indicated that the growth of equity capital, as in previous periods, occurred due to the increase in the volume of retained earnings in its structure: for the first two quarters of 2023, it grew by 37.1% and as of July 1, 2023, its share in the equity capital of the company increased to 99.6%.
According to the information, Novaya Posta’s accounts receivable increased by 46.5% to UAH 3 billion 303.6 million in the first half of 2023, while accounts payable increased by 18.1% to UAH 8 billion 592.0 million, and free cash flow increased by 12.6% to UAH 758.2 million.
Overall, the company’s assets in the first half of this year increased by 22.5% to UAH 19 billion 298.0 million, while fixed assets increased by 10.5% to UAH 7 billion 561.7 million.
Founded in 2001, Novaya Posta has more than 10,000 outlets and 14,000 post offices in Ukraine. It provides a full range of logistics and related services.
Two issues of the company’s bonds series “C” and “D” are currently circulating on the market with a nominal volume of UAH 800 mln each and an interest rate of 24% and 23% per annum, respectively, maturing in January 2024 and 2025.
