The Nova Poshta group of companies intends to begin testing the parcel delivery service between the countries of the European Union in 2024 in order to fully launch this service in 2025, co-owner of Nova Poshta Viacheslav Klimov told Forbes Ukraine on Monday.

“We have already started offering it (the service) in some countries where we have opened. I think next year will test this product, and in 2025 we will be able to launch it,” Klimov noted.

He added that Nova Poshta branches would appear in almost all EU countries.

“Next year our branches will appear in almost all European countries. There will be 30 countries by the end of 2025,” Klimov said.

According to him, the company’s budget for expansion into foreign markets during 2022-2025 reaches $10 million, while such a budget is much disciplined, and the company’s goal is to achieve self-sufficiency as soon as possible.

“We don’t plan to spend more money on this, and we have nowhere to go, because we are investing only from our own resources, so we will try to meet even a smaller amount,” Klimov noted.

At the same time, he predicts that as early as December 2023, Nova Poshta will return investments in the Polish market and break even.

The company's co-owner also denied rumors about plans for an IPO.

“As for the IPO, these are only rumors. Until the end of the war, this is physically impossible. In addition, my partner and I have no such plans, no such need. We want to develop Nova Poshta while we have the strength,” Klimov said.

He noted that the group invests its own funds in development, and cooperates with commercial banks, the European Bank for Development and Reconstruction and issues bonds.

“For example, this year we issued bonds worth UAH 1.6 billion,” Klimov added.

Last week at the Kyiv International Economic Forum, he announced that Nova Poshta would appear on the markets of Latvia, Estonia, Hungary, Italy, France and Austria by the end of 2023.