Ukrainian retail market shows growth: revenue of leaders increased by 23% in 2023
19 July 2024 15:32
According to the Opendatabot Retail Index, the total revenue of the largest retailers in Ukraine in 2023 was UAH 457.32 billion. This is a 23% year-on-year increase, according to "Komersant Ukrainian"
ATB-market, a part of the corporation owned by Gennadiy Butkevich, Yevgeniy Yermakov and Viktor Karachun, retained its leadership in the industry. Its revenue amounted to UAH 181.09 billion, which is almost 40% of the total revenue of all companies in the index. Compared to 2022, ATB’s revenue increased by 22%.
Silpo-Food and Fora, both part of Volodymyr Kostelman’s Fozzy Group, took the second and third places. Their combined revenue totalled UAH 114.22 billion. The growth of Fora’s net profit is particularly impressive, up 5.5 times year-on-year.
Among the top 10 companies in the index, Comfy Trade showed the largest increase in revenue, up 1.7 times to UAH 27.63 billion. The company’s net profit increased 20 times to UAH 40 million.
RUSH ( Eva supermarket chain), a member of Olvia Group, reported the highest net profit. Its net profit grew 2.3 times to UAH 2.2 billion, while revenue increased by a third.
Other major market players also showed interesting results. West Petrol Market recorded revenues of UAH 27.69 billion, down 18% from 2022, and the company’s profit halved to UAH 265.89 million. Metro Cash & Carry Ukraine increased its revenue by 27% to UAH 25.5 billion. Rozetka showed a 38% increase in revenue to UAH 25.4 billion, but its profit decreased 10 times to UAH 12 million. Foodcom (Retail Group) increased its revenue by 27% to UAH 17.16 billion, while its profit increased 1.4 times to UAH 310.63 million.
Despite the challenging economic environment, most companies showed revenue growth. However, not all were able to increase net profit, which may indicate an increase in operating expenses. Experts note that such growth figures indicate the relative resilience of the retail sector in Ukraine, despite the difficult economic conditions.
The companies have managed to achieve this success despite the fact that Business is under the gun: not a single criminal case involving pressure on entrepreneurs has been closed in Ukraine – Manifesto 42.
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