According to calculations by the Experts Club analytical center based on data from Opendatabot, the combined revenue of the ten largest companies in the first half of 2026 amounted to approximately UAH 1.83 billion. A year earlier, their total revenue stood at approximately UAH 1.28 billion. Thus, the revenue of the top 10 increased by approximately 43%.
| Rank | Company | Revenue 2026, UAH million | Year-on-year change |
|---|---|---|---|
| 1 | Asters | 476.8 | +18.7% |
| 2 | Aequo | 234.9 | +132.5% |
| 3 | Avellum Partners | 192.4 | +113.9% |
| 4 | Sayenko Kharenko | 176.4 | +18.6% |
| 5 | CMS Cameron McKenna LLC | 172.5 | +56.6% |
| 6 | Sayenko Kharenko Ukraine | 134.4 | +105.9% |
| 7 | Ader Haber | 125.6 | +32.9% |
| 8 | Vasil Kisil & Partners | 112.5 | +15.3% |
| 9 | Kinstellar Ukraine | 101.6 | -1.3% |
| 10 | Integrites | 100.1 | +56.1% |
At the same time, nine of the ten largest law firms increased their revenue. The only exception was Kinstellar Ukraine, whose revenue declined by 1.3%, from UAH 102.9 million to UAH 101.6 million.
Aequo demonstrated the highest growth rate among the top 10 participants, at +132.5%. Avellum Partners increased its revenue by 113.9%, while Sayenko Kharenko Ukraine recorded growth of 105.9%.
Two other companies increased their revenue by more than half: CMS Cameron McKenna LLC by 56.6% and Integrites by 56.1%.
According to Experts Club, these trends indicate a recovery in demand for professional legal services and the strengthening of the positions of the largest market players. Revenue growth may be associated with increased activity in corporate transactions, business restructuring, international projects, sanctions and compliance support, litigation, and companies’ preparations for Ukraine’s future reconstruction.
At the same time, the market structure remains fairly concentrated. Asters alone accounted for approximately one-quarter of the combined revenue of the ten largest law firms.
Overall, as of early October 2026, Ukraine had 21,388 registered companies and 23,363 individual entrepreneurs operating under KVED 69.10, “Legal activities.” The total number of legal businesses and entrepreneurs in this segment reached 44,751.
Source: Opendatabot
Kyiv, based on the results of the first nine months of 2026, showed the largest negative balance in Ukraine between companies that registered in the capital after changing their region and those that legally left it. The capital’s net balance was minus 559 companies, according to an analysis by Experts Club based on OpenDataBot statistics.
The second-largest negative result was recorded in the Dnipropetrovsk region—minus 378 companies. In the Odesa region, the balance was minus 84; in the Poltava region, minus 66; and in the Volyn region, minus 65.
In total, 17 regions had a negative balance of legal relocations.
At the same time, in eight regions, the number of companies that changed their registration to that region exceeded the number of those that left it. The largest net gain was recorded in the Sumy region—a net gain of 412 companies. The Kharkiv region saw a net gain of 406 companies, the Zaporizhzhia region—401, the Lviv region—161, and the Kherson region—109.
Chernihiv Oblast also had a positive balance—a net increase of 34 companies—as did Zakarpattia Oblast (27) and Chernivtsi Oblast (8).
The most popular single route remained Kyiv to Kyiv Oblast: 468 companies changed their registered address from the capital to the oblast. At the same time, 350 companies moved their registration in the opposite direction.
Another 340 companies re-registered from Kyiv to the Zaporizhzhia region, and 331 to the Kharkiv region. From the Dnipropetrovsk region, 322 companies moved their registered address to the capital.
According to analysts at Experts Club, the significant positive balance in frontline and war-affected regions should be interpreted with particular caution. Since these figures refer to registered addresses, such statistics do not in themselves indicate a relocation of production facilities, offices, or the majority of employees to those areas.
Source: OpenDataBot
The combined revenue of the ten largest companies that changed their region of legal address in 2026 totaled approximately 44.1 billion UAH over two quarters, according to Experts Club’s calculations based on data from OpenDataBot.
The largest among them was Parallel-M Ltd., which imports and sells fuel and operates the Parallel gas station chain. Its revenue for the first two quarters of 2026 totaled 9.18 billion UAH. The company changed its registered address from Zaporizhzhia Oblast to Poltava Oblast.
Second place went to the Pokrovske Mining Administration, with revenue of 6.31 billion hryvnias, which re-registered from the Donetsk region to the Zaporizhzhia region.
In third place is “Podorozhnik Kyiv” with revenue of 5.22 billion UAH. The company, affiliated with the “Podorozhnik” pharmacy chain, changed its region of registration from Lviv Oblast to Kharkiv Oblast.
The combined revenue of the three largest companies totaled 20.71 billion UAH, or about 47% of the total revenue of the top ten.
The top 10 also included “Galychyna-Tabak” with revenue of 4.26 billion UAH, “STV Center” with 4.12 billion UAH, “Interbusiness” with 3.92 billion UAH, “Arion Trade” with 3.83 billion UAH, “Mars Ukraine” with 2.84 billion UAH, “Sovtrading-L” with 2.28 billion UAH, and “SK Energy Group” with 2.13 billion UAH.
The latter company was the most active in terms of the number of changes to its legal address among large businesses: over the course of three quarters, it re-registered four times between Kyiv and the Kharkiv region.
Experts Club notes that the presence of companies with revenues in the billions in the statistics shows that changing one’s legal location remains relevant not only for small and medium-sized businesses but also for large enterprises in the fuel, mining, pharmaceutical, retail, and other sectors.
However, a change of region in the Unified State Register does not necessarily mean an actual relocation of the company’s main assets or production facilities.
Source: OpenDataBot
BUSINESS, COMPANY, EXPERTS CLUB, RANKING, RELOCATION, REVENUE, UKRAINE
On October 26, Kyiv will host the 12th Kyiv International Economic Forum (KIEF). More than 500 participants are expected—owners and executives of Ukrainian and international companies, government officials, investors, diplomats, and experts. The main theme of this year’s forum is “People. Business. Economy. What’s Next?”. Discussions will focus on how business and the economy can weather the new conditions, adapt, and return to growth.
In the fifth year of full-scale war, pressure on the Ukrainian economy is intensifying. Manufacturing, the energy sector, ports, railways, logistics centers, and other business-critical infrastructure are under attack. According to estimates by the Ministry of Economy, direct losses from destruction could reach about $10 billion annually, and combined with the blockade of seaports, they have already cost Ukraine about 1.5 percentage points of GDP in 2026. According to the World Bank’s October forecast, Ukraine’s economic growth will slow to 1.2% in 2026 and reach 1.5% in 2027 if active hostilities continue. In previous forecasts for 2027, the bank projected 4% growth, assuming hostilities would end by the end of 2026.
“While the discussion used to center on Ukraine’s recovery, the focus has now shifted to ensuring the economy’s resilience right now. Businesses need solutions that will help them protect their assets, maintain production, and continue investing even amid the war,” notes Vasyl Khmelnytskyi, initiator of the Kyiv International Economic Forum (KIEF) and founder of the UFuture holding company.
The KIEF 2026 program features 12 panel discussions. The discussions will center on the physical protection of businesses, operations during air raid alerts, decentralized logistics and energy supply, communication resilience, insurance against war risks, compensation for lost assets, access to financing, and maintaining macroeconomic stability. Other key topics include adapting the state’s industrial development strategy and energy policy to new conditions, the state’s economic priorities, international cooperation, and European integration in the face of new challenges. Special attention will be given to the experiences of frontline cities and the solutions already in place there.
Speakers at the forum include:
The Ukrainian economy already has experience adapting quickly during a crisis. In 2022, following the destruction of the Kremenchuk Oil Refinery and a fuel shortage, the country restructured its fuel logistics, and thousands of businesses relocated from frontline regions to the interior of the country. Following the blockade of traditional maritime routes in 2023, the Ukrainian maritime corridor became operational, and after last year’s large-scale attacks on the power grid, businesses and the government began actively developing distributed generation.
“Today, any discussion about the future must begin with finding practical solutions that businesses, the government, and international partners can adopt right now to maintain stability and return the economy to growth. That is exactly what this year’s KIEF is all about,” says KIEF CEO Yuriy Pivovarov.
Title partners of the forum: UFuture, Mastercard, AEQUO, PrivatBank, Kyivstar
Forum partners: Sense Bank, NEQSOL Holding, PUMB, DTEK, Ajax Systems, Uklon, TERWIN, Eclectic Talents Group, BALEX, CEO Club Ukraine.
Interfax-Ukraine and Open4Business are the forum’s media partners.
Kyiv leads among Ukraine’s regions in the number of active companies that have reported zero revenue for at least two consecutive years or have not filled in the corresponding field in their financial statements.
According to Opendatabot, 15,078 such companies are registered in the capital, accounting for nearly 29% of the country’s total.
In total, there are 52,202 active commercial companies in Ukraine that have filed financial statements showing zero or blank revenue for at least the last two consecutive years.
The Dnipropetrovsk region ranks second—3,998 companies, or about 8% of the total. There are 3,663 such companies registered in the Kharkiv region and 3,471 in the Odesa region.
Thus, Kyiv and the three largest regions alone account for more than half of all companies in the country that have not reported any revenue in their financial statements for a long time.
One in four companies in the studied group has been in this state for three consecutive years, and 4,600 enterprises have not reported any revenue for five years.
The most common legal form among such enterprises remains the LLC—accounting for 42,383 companies, or 81% of the sample.
According to Opendatabot’s assessment, one of the reasons for the continued existence of legally active but effectively inactive enterprises is the complexity of the liquidation procedure. In addition, some companies may have suspended operations due to the war, the loss of production capacity, or the loss of sales markets.
Source: Opendatabot
In Ukraine, 52,200 active companies have filed annual financial statements showing zero revenue—or have not reported any revenue at all—for at least two consecutive years, according to data from the Unified State Register analyzed by Opendatabot.
About a quarter of these companies have reported zero or blank revenue figures for three consecutive years, and 4,600 companies—or roughly one in eleven—have been in this situation for five years.
The largest number of companies with a long-standing lack of declared revenue is registered in Kyiv—15,078, or nearly 29% of the total.
The Dnipropetrovsk region accounts for 3,998 such companies, or about 8%; the Kharkiv region, 3,663; and the Odesa region, 3,471.
The most common sector of activity for these companies is wholesale trade. This sector accounts for 9,894 companies, or about 19% of the sample studied.
Another 5,523 companies operate in real estate, 4,279 in construction, and 3,426 in agriculture.
The majority of enterprises that have long reported no income are registered as limited liability companies—42,383 companies, or 81% of the sample. Another 7,673 are private enterprises, and 1,691 are farms.
Denis Popov, head of the legal department at Opendatabot, attributes the persistence of such a large number of these companies, in particular, to the complexity of the business liquidation process.
“One of the reasons companies remain registered for years without generating any income is the complex procedure for closing them down. To officially terminate a business, one must settle obligations to creditors and the government and complete the required procedures, which takes time and money,” he noted.
According to him, zero revenue does not necessarily mean that operations have actually ceased. Some businesses may have temporarily suspended operations due to full-scale war, the loss of production capacity, employees, or sales markets.
The analysis included active commercial companies of various legal forms that had filed financial statements with zero or blank revenue for at least the last two consecutive years. Nonprofit organizations were not included in the study.
Source: Opendatabot
