Polish-Owned Firms in Ukraine Generate Billions, Highlighting Deepening Economic Ties

Substantial Growth for Polish-Backed Companies in Ukraine

According to Главком: In 2025, a total of 1,197 companies with Polish beneficiaries filed financial reports in Ukraine. Among these, 146 firms-approximately one in eight-achieved revenues exceeding 100 million Ukrainian hryvnias (UAH). The combined income for this top-performing group reached 123.01 billion UAH, marking a significant 20% increase compared to the previous year. This robust growth occurs despite the ongoing challenges of operating in a wartime economy.

Leading the revenue rankings was LPP Ukraine, with earnings nearing 17 billion UAH. Radekhiv Sugar also posted strong results, surpassing 10 billion UAH. Several companies demonstrated extraordinary year-over-year growth, including:

• Elgard, which surged to 104.3 million UAH from just 2.7 million in 2024;
• SMP, which increased its revenue eightfold to 103.7 million UAH;
• Kliko Ukraine, which grew its income 6.5 times to 222.2 million UAH.

Geographic and Sectoral Distribution

The 146 high-revenue companies with Polish ownership are spread across several key Ukrainian regions. The largest concentrations are found in:

• Kyiv City – 46 companies;
• Kyiv Oblast – 16;
• Lviv Oblast – 37;
• Volyn Oblast – 11;
• Dnipropetrovsk Oblast – 6.

Sector-wise, wholesale trade dominates with 54 businesses. Agriculture follows with 8 companies, the food industry has 7, while IT and metal product manufacturing are each represented by 5 companies. This diversification underscores the broad scope of Polish investment.

The economic partnership is a two-way street. Over the past three years, Ukrainians have registered 77,700 individual entrepreneurs in Poland, accounting for 9% of all new businesses there. Additionally, 11,300 companies with Ukrainian capital have been established in Poland. This reflects a deeply interconnected business landscape.

The rising number of Polish-backed companies in Ukraine and their increasing revenues point to a revitalized investment climate and strengthened economic cooperation between the two nations.

The variety of sectors where these companies operate highlights Ukraine's potential for business development. Simultaneously, the growing presence of Ukrainian entrepreneurs in Poland opens new avenues for commerce and further solidifies the economic bonds linking the two countries.

As the economic landscape in Ukraine evolves, understanding the role of foreign investments becomes increasingly important. A closer examination of the major international players reveals how diverse ownership structures impact local markets. For insights into the dynamics of foreign capital in Ukraine, including the origins and influence of various companies, visit the major foreign-owned businesses in Ukraine.