Hungarian businesses in Ukraine have increased their revenues: who earned the most
29 April 14:38
There are 246 companies with Hungarian owners operating in Ukraine that submitted financial reports for 2025. Their combined revenue exceeded 29 billion hryvnia, and one in seven of these companies earns more than 100 million hryvnia per year. This is according to data from OpenDataBot, as reported by "Komersant Ukrainian"
According to the results for 2025, the total revenue of companies with Hungarian owners in Ukraine amounted to 29.77 billion UAH, which is 8% more than the previous year.
In total, 34 companies—roughly one in seven—have annual revenue exceeding 100 million UAH.
How many Hungarian companies operate in Ukraine
According to data from the Unified State Register and financial reports, there are currently 246 companies with Hungarian beneficiaries registered in Ukraine that reported for 2025. Some of these businesses have not only Hungarian but also Ukrainian or other European co-owners, so these are companies with an international ownership structure.
The most powerful group consists of large companies with revenues exceeding 100 million UAH. There are 34 such businesses, and their total revenue amounts to nearly 30 billion UAH.
Who earned the most
OTP Bank emerged as the clear leader among companies with Hungarian owners. Its revenue in 2025 reached 11.9 billion UAH. It is the only company with Hungarian owners to make this year’s OpenDataBot Index.
The top five also includes the agricultural construction alliance Astra with 3.6 billion UAH in revenue, TIS-Vugillya with 1.95 billion UAH in revenue, and OTP Leasing with 1.7 billion UAH in revenue. Rounding out the top five is Transinvestservice, a port logistics company, with 1.68 billion UAH in revenue.
Top 10 companies with Hungarian owners in Ukraine
| Rank | Company | Revenue in 2025 | Revenue in 2024 |
|---|---|---|---|
| 1 | OTP Bank | 11.9 billion UAH | 10.34 billion UAH |
| 2 | Astra Agricultural Construction Alliance | 3.56 billion UAH | 3.06 billion UAH |
| 3 | TIS — Coal | 1.95 billion UAH | 1.58 billion UAH |
| 4 | OTP Leasing | 1.7 billion UAH | 1.57 billion UAH |
| 5 | Transinvestservice | 1.68 billion UAH | 1.4 billion UAH |
| 6 | Malynyvsky Glass Factory | 1.19 billion UAH | 0.98 billion UAH |
| 7 | Gedeon Richter Ukraine | 1.07 billion UAH | 0.02 billion UAH |
| 8 | Pivdennyi Container Terminal | 0.84 billion UAH | 1.12 billion UAH |
| 9 | Nufarm Ukraine | 0.79 billion UAH | 0.71 billion UAH |
| 10 | TIS — Grain | 0.61 billion UAH | 0.58 billion UAH |
Gedeon Richter Ukraine saw the largest revenue growth—more than 60-fold over the year, reaching 1 billion UAH. MET Ukraine and KES-UA Holding showed similar, though less dramatic, increases: 5.4-fold and 1.6-fold, respectively.
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Where are most companies with Hungarian owners located?
Transcarpathia remains the main hub for Hungarian business in Ukraine. There are 115 companies registered there, which is nearly half of all businesses with Hungarian beneficiaries.
Kyiv ranks second, with 67 companies with Hungarian owners operating there. Another 21 companies are registered in the Odesa region.
At the same time, nearly half of the large companies with revenues exceeding 100 million UAH—15 businesses—are concentrated in the capital.
In which sectors do Hungarian businesses operate
Most often, companies with Hungarian owners in Ukraine operate in wholesale trade. There are 54 such businesses, or 22% of the total.
Next are companies in real estate, agriculture, warehousing, retail, and other sectors.
| Field of activity | Number of companies | Share |
|---|---|---|
| Wholesale trade | 54 | 22.0% |
| Real estate | 24 | 9.8% |
| Agriculture | 17 | 6.9% |
| Warehousing | 16 | 6.5% |
| Retail trade | 10 | 4.1% |
| Social assistance | 9 | 3.7% |
| Advertising | 7 | 2.8% |
| Car sales | 5 | 2.0% |
| Law and accounting | 5 | 2.0% |
| Other fields | 99 | 40.2% |
OpenDataBot data shows that Hungarian business in Ukraine remains significant but is very unevenly distributed. Zakarpattia leads in terms of the number of companies, which is logical given the region’s geographical proximity to Hungary and its historical ties.
At the same time, the highest revenues are not concentrated solely in the west of the country. A significant portion of large companies are registered in Kyiv, and among the leaders are banks, agricultural companies, port logistics, pharmaceuticals, glass manufacturing, and retail businesses.
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