Ukraine's Kormotech aims for EUR 500 mln in revenue by 2028

The Kormotech Group has set an ambitious goal of generating over half its sales from international markets and reaching EUR 500 million in revenue by 2028.

These plans were outlined by Yuri Bykoriz, Managing Director, Central & Eastern Europe Kormotech, in an interview with Interfax-Ukraine.

"Kormotech closed 2024 with a turnover of $162.7 million, which is 6.5% higher than in 2023. Over the past year, we sold a total of 83,000 tonnes of dry and wet pet food for cats and dogs – an increase of nearly 7.5% compared to the previous year. Looking ahead to the next five years, we're aiming for annual growth of about 30-35% to meet our ambition of reaching half a billion euros in revenue by 2028," Bykoriz said.

As of the end of 2024, the company's sales volume was split 28% to export markets and 72% to the domestic Ukrainian market.

According to Bykoriz, Kormotech expects international growth to significantly outpace growth in Ukraine over the coming years.

"By 2028, we want more than half of our sales volume to come from international markets. We even have a 'super-ambition' – to flip the current ratio and have two-thirds of our sales abroad and one-third in Ukraine," he noted.

Bykoriz said the company's strategic focus for the coming years will be on Central and Eastern European markets, with particular attention to Romania, Bulgaria, the Baltic states, Poland, and Greece.

With the participation of CFI, Agence française de développement médias, as part of the Hub Bucharest Project with the support of the French Ministry of Foreign Affairs