Five years of pandemic and full-scale war have reshaped Ukraine’s corporate landscape. The biggest private winners sell groceries, pills, fuel, and parcels.
A new joint ranking was published on 26 May by Top Lead, a media company, and YouControl.Market, the market-intelligence platform of business-intelligence firm YouControl. It ranks discount supermarket chain ATB-Market first, with 103.9 billion hryvnias ($2.3 billion) in revenue growth between 2019 and 2024.
What ‘resilient’ means here
The study defines resilience as the absolute growth in a company’s net revenue between 2019 and 2024. These five years span the COVID pandemic and the first three years of Russia’s full-scale invasion.
To make the cut, a company also had to be still operating as of January 2026 and not have lost significant revenue in 2025. The metric is top-line growth, not profit, and it favors scale: a 5% rise at a giant retailer can outweigh a 500% rise at a small firm.
What’s left at the top is the consumer-survival economy: cheap food, prescription drugs, gasoline, parcels, and cigarettes.
Defense companies, state enterprises, and businesses headquartered in occupied or active combat zones are excluded—defense and state firms appear in separate rankings.
What’s left at the top is the consumer-survival economy: cheap food, prescription drugs, gasoline, parcels, and cigarettes—goods Ukrainians need to keep going, sold at prices a poorer population can afford.
The top 10
ATB-Market, a no-frills chain that has run small-format stores in Ukraine for more than 30 years, added more revenue than any other private firm in the study. Aurora, the fourth-place finisher, is a non-food discount retailer; its revenue grew roughly 90 times over the same period.
Agro-trader Kernel takes second place. The company is Ukraine’s biggest sunflower-oil maker, and Ukraine itself is the world’s largest exporter of the commodity.
Parcel courier Nova Poshta, eighth, is the only postal operator in the top 100.
Pharmaceutical distributors Optima-Pharm and BaDM rank third and seventh. Home-improvement chain Epicenter K sits sixth. Parcel courier Nova Poshta, eighth, is the only postal operator in the top 100. Its sorting depots in Odesa, Kharkiv, and elsewhere have been hit by Russian strikes multiple times since 2022.
Philip Morris Sales & Distribution takes tenth place. Ukraine’s anti-graft agency has flagged Philip Morris for continuing to do business in Russia after February 2022.
Energy distributors crowd the middle ranks
Below the top ten, regional electricity distributors appear in unusual concentration: Yasno Dnipro (13th), Lvivenergozbut (20th), Yasno Kyiv (21st), Cherkasyenergozbut (47th), Zakarpattiaenergozbut (61st), Poltavaenergozbut (68th).
They grew as domestic tariffs rose and Russian strikes on the power grid pushed up the cost of supplying electricity.
What is missing
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Tech is largely absent from the top ranks. The highest-ranked IT firm is GlobalLogic Ukraine, at 70th. Only one fast-food chain appears on the list—McDonald’s, at 46th.
Only one clothing distributor makes it in: Poland’s LPP, which holds the franchises for Reserved, Sinsay, House, and Cropp, at 57th.
The numbers in context
Some of this growth is inflation, not real expansion. Ukraine’s consumer prices rose more than 70% cumulatively between 2019 and 2024, with the steepest single-year jump—26.6%—coming in the invasion year.
The population has dropped from 42 million before the invasion to about 31 million today, with up to 8 million Ukrainians abroad. Public debt now exceeds $210 billion—more than 100% of GDP.
The ranking captures who has held up. It does not show the holding cost.
