State enterprises earned over UAH 16 billion in profit in 2024: which industry was the most profitable?

In 2024, the total profit of state-owned enterprises in Ukraine almost doubled compared to the previous year, reaching over 16 billion hryvnias against 8.8 billion in 2023. At the same time, the amount of losses of state-owned companies decreased by almost 3 billion hryvnias. The main profits were provided by enterprises in the processing industry and the transport sector, while the mining sector suffered the largest losses. This was reported by analysts of the Youcontrol system, according to UNN.

DetailsAccording to analysts, based on data from the Unified State Register, there are 1568 companies in Ukraine with the organizational and legal form “State Enterprise” that are not in the process of termination. One-third, namely 506 active state-owned enterprises, are registered in Kyiv, 131 in temporarily occupied Crimea, and 117 in Donetsk Oblast.

It is reported that out of the analyzed sample, 628 enterprises have published financial statements for 2024. Whereas in 2023, 643 state-owned enterprises submitted data on their financial and property status to the State Statistics Service.

The total profit of 331 companies that published financial statements for 2024 amounted to over 16 billion hryvnias. At the same time, in 2024, 274 companies incurred losses totaling 6.7 billion hryvnias. The profit of another 23 companies in 2024 was zero. The total profit of state-owned enterprises with available financial reporting data in 2024 almost doubled the corresponding figure for 2023. In 2023, 343 state-owned enterprises earned 8.8 billion hryvnias. The amount of losses also decreased by almost 3 billion hryvnias in 2024. In 2023, the total loss of 275 state-owned companies amounted to 9.6 billion hryvnias

The top ten companies by net profit in 2024 included state-owned companies registered in Kyiv, Dnipropetrovsk, and Odesa regions. The share of profit of state-owned enterprises from these regions accounts for more than 97% of the total profit of all analyzed companies for 2024.

The largest number of analyzed companies are registered in the following sectors:

• professional, scientific and technical activities – 437;

• agriculture, forestry and fishing – 255;

• processing industry – 221.

The largest total profit of 6.7 billion hryvnias in 2024 was received by state-owned companies operating in the processing industry. 91% of this amount comes from the profit of one company. As of 2024, the sphere of “Transport, warehousing, postal and courier activities” became profitable for state-owned enterprises. 16 companies involved in this sector collectively earned 5.2 billion hryvnias. It should be noted that 5 of these companies are among the top ten largest state-owned enterprises by net profit for 2024. However, the total loss of 18 companies in this sector in 2024 amounted to 1.64 billion hryvnias. It was a company from the transport industry that incurred the largest loss of 1.2 billion hryvnias among all analyzed companies in the sample last year.

The total profit of 83 state-owned companies involved in agriculture, forestry, and fishing in 2024 amounted to 2.6 billion hryvnias, while the largest total loss of 2.4 billion hryvnias in 2024 was incurred by 16 state-owned enterprises operating in the “Mining and Quarrying” sector.

However, it is emphasized that only 40% of the analyzed state-owned companies published financial statements, which may indicate the absence of activity of some of those enterprises that did not submit their financial indicators.

RecallIn 2024, the average annual salary of an Ambassador Extraordinary and Plenipotentiary reached UAH 2.95 million – this includes compensatory payments as part of the payroll fund.