How the war has affected the financial results of Ukrainian postal companies

Boris Bodnar
Boris Bodnar Journalist
How the war has affected the financial results of Ukrainian postal companies
Despite the increase in revenue in the postal services market, only one of the three largest companies in Ukraine has maintained a steady profit throughout all years of the full-scale war. This conclusion is drawn from the analysis of the financial reports of "Nova Poshta," "Ukrposhta," and Meest Express for the years 2018–2024, conducted by "Slovo i Dilo."

"Nova Poshta" maintains its market leader position — from 2018 to 2024, its annual revenue has nearly increased fivefold: from 10.5 billion UAH to 44.8 billion. In 2022, the company showed a profit of 2.1 billion UAH, and already in 2023 — a record 4 billion UAH. In 2024, profit decreased to 2.5 billion.

Ukrposhta, on the other hand, faced fluctuations in financial indicators. After a profitable 2019 (+405 million UAH), the company lost profits for four consecutive years, with a deep deficit in 2022 (-1.26 billion UAH). Only in 2024 did the state company reduce its losses to -413 million UAH, although revenue increased from 10.3 billion in 2022 to 13 billion in 2024.

Meest Express showed instability throughout the entire period. After profits in 2018–2019, the company moved into the loss zone, which peaked in 2023 (-289 million UAH). Only in 2024 did Meest return to profit — +217.6 million UAH. Over the past year, revenue also increased — from 0.5 to 0.9 billion UAH.

The data indicate that the full-scale war affected the business models of these companies differently: "Nova Poshta" demonstrates stable profitability, while "Ukrposhta" and Meest are only trying to restore financial stability after deep wartime losses.

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