According to the results of 2025, the state-owned enterprise “Forests of Ukraine” achieved significant growth in key financial and economic indicators, said the head of the enterprise, Yuriy Bolokhovets.
The enterprise’s revenue reached UAH 29.9 billion, pre-tax profit — UAH 8.4 billion, and profitability — 23%. UAH 15.8 billion in taxes were paid. Forty-four percent of revenues are transferred to the budget, which is the highest percentage in the forestry and woodworking industry.
“For the first time since independence, billions in profits from timber sales have not been diluted by shadow schemes and divided between officials and intermediaries, but have been directed entirely to the budget. This is an indisputable fact. Figures are stubborn things, and they make it possible to evaluate the work of an enterprise on the basis of objective figures rather than subjective judgments,” says Yuriy Bolokhovets.
The growth in indicators is largely due to de-shadowing, as the product sales system is now as open as possible. The State Enterprise “Forests of Ukraine” publishes information on each exchange transaction: who contracted what volume of timber and at what price. A list of product refusals is also published.
In 2026, the company plans to increase harvesting volumes, which will contribute to further growth in economic indicators.
The process of purchasing an unprecedented amount of specialized equipment has begun: harvesters, forwarders, skidders, tractors, trailers, and equipment for transporting timber. Currently, the State Enterprise “Forests of Ukraine” is working to increase this year’s investment plan by at least half in order to maximize the pace of harvesting.
Last year, the company transferred 100% of its procurement of harvesting services to Prozorro. However, due to a shortage of personnel, contractors often fail to complete the work on time. Therefore, additional teams are being formed throughout Ukraine and hundreds of new vacancies for loggers are being opened.
“We are determined to offer the market the largest volume of forest products since the start of the full-scale war. We expect an additional million cubic meters thanks to the acceleration of the approval of forest management materials. We expect another million cubic meters from the deregulation of licensing procedures. Changes to the regulatory framework are being developed, but unfortunately, no decision has been made yet,” said Yuriy Bolokhovets.
According to him, the year started very actively. Despite snowfalls and frosts, the dynamics of harvesting are higher than last year. The equipment is working, forest roads are cleared, and warehouses are shipping products.
“We feel a huge responsibility, because when other businesses stop, we continue to work and grow, compensating for budget losses. We are only waiting for long-planned decisions on legislative and regulatory changes aimed at unlocking the potential of forestry…,” said Yuriy Bolokhovets.
This year, the State Enterprise “Forests of Ukraine” will direct equally significant investments toward the conservation, protection, and restoration of forests.
All forest fire stations of the State Enterprise “Forests of Ukraine” are 100% equipped with modern tools and equipment: from protective clothing, backpack fire extinguishers, and communication devices to mobile firefighting modules. Now it is time to upgrade large-scale firefighting equipment. The first nine vehicles have already been delivered, with another nine planned in the near future.
The recreation development program, which has already saved thousands of hectares of forest for the state, will also continue. The company will pay even more attention to the care of forest crops, as it is thanks to them that the market will be supplied with high-quality timber in the future.
Plans for this year include restarting the implementation of ERP — it is impossible to imagine a modern company without an automated management system. The corporatization process will continue, which involves revaluation of property, inventory, and preparation of transfer deeds. The registration of property rights to land will be completed.
Last year, the de-occupied forestries of Kharkiv, Donetsk, and Kherson regions joined the State Enterprise “Forests of Ukraine.” The restoration, harvesting, and protection of forests has begun. The area affected by fires has decreased significantly. However, it is not only the frontline forestry enterprises that need help. The company is working to bring in other forest users who are unable to perform their functions fully.
Given the energy situation in Ukraine, the warehouses of the state-owned enterprise ‘Forests of Ukraine’ have accumulated over 220,000 cubic metres of firewood, which is enough to provide for the social sector, the population and the military, the press service of the state-owned enterprise reported on Telegram.
‘The situation in the energy sector is extremely difficult. We have high hopes that Ukrainian cities will withstand it. But we are preparing for any scenario. (…) Procurement continues uninterrupted, and despite the extremely complicated logistics, the warehouses are constantly being replenished,’ the state-owned enterprise emphasised.
According to information from ‘Forests of Ukraine,’ despite prolonged power outages, there has been no significant increase in demand for firewood. Since the beginning of 2026, forestry enterprises across the country have sold only 15,000 cubic metres.
The state-owned enterprise emphasised that it considers fuel supplies to the Armed Forces of Ukraine to be no less of a priority, which are also being fulfilled in full in accordance with the terms of the contracts. If necessary, foresters are ready to increase supplies.
‘Forests of Ukraine’ assured that it would leave prices for social firewood unchanged until the end of the heating season and advised households to start thinking about the next season and replenish their stocks in advance.
The state-owned enterprise “Forests of Ukraine” has completed auctions for the first quarter of 2026, during which almost all forest products were contracted, prices for hardwood species continued to rise, and prices for coniferous species stabilized, the press service of the state-owned enterprise reported.
“Forests of Ukraine” noted that the auctions were held for the first time under the zero quota for firewood exports introduced by the Cabinet of Ministers. However, in the process of competitive struggle for resources, market participants once again reached higher price levels.
Thus, 381,000 cubic meters were put up for quarterly auctions for the sale of industrial wood (PV), and almost 100% was contracted. Compared to the fourth quarter, the average price of firewood rose from UAH 2,300/cubic meter to UAH 2,600/cubic meter. The main reason was the rise in the price of hardwood from UAH 2,300/cubic meter to UAH 3,000/cubic meter. At the same time, the market value of softwood did not change significantly and amounted to UAH 2,400/cubic meter.
It is noted that the supply of firewood for sale by the State Enterprise “Forests of Ukraine” was distributed almost equally between quarterly and semi-annual (forward) auctions. The forward contracts for the first half of the year took place earlier: 100% of the resource (741 thousand cubic meters) was sold, with an average sale price of UAH 2.4 thousand/cubic meter.
“The tool for hedging price risks by concluding long-term contracts has once again proven its effectiveness. At least in the first quarter, products under semi-annual contracts for firewood will be slightly cheaper,” the state-owned enterprise stated.
Of the 775,000 cubic meters of round timber put up for sale at quarterly auctions, more than 99.5% was sold. The average selling price increased from UAH 6,800/cubic meter in the fourth quarter to UAH 7,300/cubic meter.
At the same time, “Forests of Ukraine” considers it incorrect to talk about a general increase in prices for commercial timber, since birch rose in price from UAH 5,700/cubic meter to UAH 7,600/cubic meter, oak from UAH 22,000/cubic meter to UAH 28,000/cubic meter, and ash from 8,000 UAH/cubic meter to 11,000 UAH/cubic meter. At the same time, alder has become cheaper, falling from 6,700 UAH/cubic meter to 5,900 UAH/cubic meter, and pine from 5,900 UAH/cubic meter to 5,600 UAH/cubic meter.
About 25% of the resource (654 thousand cubic meters) was put up for forward trading in commercial timber for the first half of the year. The average selling price at forward trading was slightly lower than the quarterly price and amounted to UAH 7.2 thousand/cubic meter. At the same time, while oak and ash were indeed contracted at prices lower than those at quarterly auctions, the situation was reversed for coniferous species, the state-owned enterprise noted.
In 2025, the state-owned enterprise Lesy Ukrainy earned more than UAH 8 billion in profits, paid more than UAH 15 billion in taxes, and invested about UAH 2 billion in its restoration and development, according to the company’s CEO Yuriy Bolokhovets on Facebook.
He also noted that during the war, foresters were able to implement the president’s “Green Country” program and planted 1 billion trees, saved tens of thousands of hectares of self-seeded and undistributed forests, and reduced the area of fires by four times despite constant shelling.
“The company’s performance is not a coincidence or a gift of fate. It is the result of a consistent policy of strong centralized management and control, transparent procurement, and open and competitive sales,” Bolokhovets emphasized.
At the same time, he noted that “the pre-reform fragmented and corrupt system did not achieve even a tenth of the results of the Lesy Ukrainy state enterprise, but remained a source of enrichment for the select few.” That is why, according to the head of the state-owned enterprise, forest reform still faces fierce resistance, as shadow schemes and profits always find supporters. The remnants of the old system are finding new allies, he explained.
“The pressure and persecution that continued this year are not about me personally. These are attempts to stop the changes that, for the first time since independence, have made forests a truly state resource,” emphasized the CEO of Lesy Ukrainy, thanking the team of foresters who have come through this year with dignity, maintained unity, and delivered results.
Among the plans for 2026, Bolokhovets mentioned the digitization of management, new global control systems, mechanization and increased harvesting, and large-scale demining projects.
Since the end of November, State Enterprise “Forests of Ukraine” has sold over 17,000 Christmas trees worth UAH 3.5 million and has begun raids to detect illegal logging, with fines tripled ahead of the New Year holidays, the state enterprise’s press service reported on Telegram.
According to the report, the largest number of Christmas trees were sold in the branches of the Central Forest Office (6,900), the Northern Forest Office (3,700), and the Polissya Forest Office (3,400).
The average price of one Christmas tree sold is UAH 202 including VAT. In total, the state-owned enterprise plans to sell about 140,000 coniferous trees based on the experience of the previous Christmas and New Year season.
“Forests of Ukraine” reminded that branches of the state-owned enterprise organize retail trade at more than 300 trading sites: in forestry enterprises, fairs, and markets in populated areas. Information about the places of sale and contacts of responsible persons is posted on the website of the state-owned enterprise “Forests of Ukraine.”
In addition, Christmas trees can be pre-ordered by calling the nearest forestry office that sells them. After that, you can come, pay (payment can be made through a terminal in the forestry office/forestry department, at a bank branch, or through online banking), and pick up your New Year’s tree.
Prices for New Year’s conifers have remained almost unchanged compared to last year, averaging between 210 and 250 UAH. Spruce/fir trees cost between 240 and 280 UAH. The cheapest Christmas trees are offered by foresters in the wooded areas of the North and Polissya. For example, in Volyn, a 1.5-meter pine tree costs 180 UAH, and in Sumy and Chernihiv regions, 170 UAH. Prices are slightly higher in low-resource regions in the east and south and near large cities.
Some branches of the State Enterprise “Forests of Ukraine” offer Christmas trees in containers. Prices start at 500 UAH, depending on size.
At the same time, to protect coniferous plantations during the Christmas and New Year period, branches of the State Enterprise “Forests of Ukraine” have formed 295 mobile raid groups, comprising almost 1,000 people.
The raid groups conducted 385 joint raids, during which they detected 34 cases of illegal felling of coniferous trees and drew up 28 administrative reports totaling more than UAH 14,000.
The amount of the fine depends on the location of the illegally cut Christmas tree and its diameter at the root collar for trees up to 41 years old: up to 10 cm – 893 UAH (in nature reserves – 7,600 UAH); 10.1-14 cm – 1,500 UAH (13,300 UAH); 14.1-18 cm – over 4,000 UAH (34,700 UAH).
“In December and January, fines are three times higher! In case of significant damage (from 30,200 UAH) from the felling and sale of illegally felled trees, criminal punishment is provided!” – warned the state-owned enterprise.
The Cabinet of Ministers is transferring State Enterprise “Forests of Ukraine” to the status of a joint-stock company, but 100% of the shares will remain in state ownership, Prime Minister Yulia Svyrydenko announced.
“Today, at a government meeting, a number of decisions were made that are important for the stability and development of the forestry industry. State Enterprise ”Forests of Ukraine” is transitioning to the status of a joint-stock company. We are doing this to ensure a more effective corporate governance model with transparent reporting and to increase the competitiveness of the enterprise,” Svyrydenko wrote on Telegram following the results of Friday’s government meeting.
According to her, the transformation of the enterprise into a joint-stock company does not imply privatization—100% of the shares remain in state ownership.
Subsequently, the prime minister’s message was edited, and information about this decision was removed.
