OKKO modernizes about third of its gas stations investing $350,000-400,000 in each during war – CEO
The OKKO gas station network reconstructed approximately a third of its gas stations during the war, investing $350,000-400,000 in each modernization, said Vasyl Danyliak, CEO of the OKKO GROUP holding, co-founder of GORO Mountain Resort.
"During the three years of the war, OKKO updated a third of its network. I believe that this is the highest indicator of all the networks operating in Ukraine today," Danyliak said in the YouTube project Dialogues.
As Danyliak explained, the decision to modernize the gas stations was related to the desire to maintain leadership in the market in conditions of its decline and fierce competition. He noted that the war greatly changed the distribution of gas station networks' shares in the market, and OKKO went from approximately 15% at the beginning of the war to 22% by the end of 2022. Thus, according to him, OKKO took first place, although before the war it was held by Privat Group, with the same 22-24%.
"But we understood that we needed to consolidate the fact that we had jumped to another level in the market. And we decided to carry out a mass rebranding and reconstruction of those gas stations that were our first-generation stations," said the CEO of OKKO.
He added that the modernization began in mid-2022, and already in 2023, it became massive. According to him, in 2023 and 2024, approximately 60 gas stations were modernized.
"On average, the reconstruction of one gas station - interior, exterior - in 2023 cost about $350,000. Today, due to the fact that prices have risen slightly, it is about $400,000," Danyliak shared.
As reported with reference to the CEO of OKKO, the network has lost about $120 million since the beginning of 2022 due to the destruction of its oil depots as a result of Russian strikes.
OKKO Group unites more than 10 diverse businesses in the fields of production, trade, construction, insurance, service and other services. The flagship company of the group is Concern Galnaftogaz, which operates one of the largest gas station networks in Ukraine under the OKKO brand, which has about 400 gas stations.
