“Big Construction” as an economic factor: why half of the largest contractors work on roads
27 May 16:02
The total revenue of the leading construction companies in 2024 reached UAH 49.49 billion. This is 41% higher than in 2023.
The top three companies have remained almost unchanged over the past three years. Nine out of ten companies in the ranking managed to make a profit. Half of them are focused on the construction of roads and highways, according to Opendatabot.
The total profit of the top 10 companies increased 1.6 times and reached UAH 3.09 billion.
Five road construction companies accounted for the largest share of revenue – they earned 75% of the total, or UAH 36.9 billion. Four other companies are focused on the construction of residential and non-residential facilities, with a more modest share of revenue, only 20%. One company on the list operates in a narrow segment – exploration drilling.
For the third year in a row, the top three leaders in the construction sector in Ukraine have remained virtually unchanged. The undisputed leader is Avtomagistral-Pivden, a company from Odesa led by Oleksandr Boyko. In 2024, it earned UAH 13.2 billion, which is 27% of the total revenue of the top 10 and 60% higher than the previous year. Its profit is also a record – UAH 1.36 billion.
Vinnytsia-based Avtostrada, controlled by Maxim Shkil, is in second place. The company earned UAH 10.8 billion (30%) over the year and increased its profit by one and a half times to UAH 74.6 million.
The third place is taken by Rostdorstroy from Odesa (owned by Yevhen Konovalov and Yuriy Schumacher). Despite a 15% increase in revenue to UAH 6.85 billion, the company recorded a 25% decline in profit.
Onur Construction International, owned by Turkish entrepreneurs Onur and Ihsan Çetinçeviz, took the fourth position. Its revenue grew by 30% (to UAH 3.82 billion) and its profit almost tripled to UAH 418 million.
Atelier de France Kyiv, which specializes in the restoration of architectural monuments, took the fifth spot for the first time. The company showed a 6.4-fold increase in revenue to UAH 2.9 billion, and its profit tripled to UAH 44 million.
“Ferrostroy from Poltava region returned to the list of leaders after a year’s break. In 2024, it increased its revenue by 1.7 times to UAH 2.62 billion and its profit by 2.6 times to UAH 298 million. The company focuses on residential and commercial construction.
Meanwhile, Kosul (Rinat Akhmetov’s SCM Group) dropped to seventh place, losing 25% of its revenue (UAH 2.6 billion) and four positions in the ranking. At the same time, its profit increased by 8% to UAH 758.8 million.
Volodymyr Vypirail’s Kyiv Energy Construction Company showed the largest profit growth among the top 10, up 8.8 times (to UAH 16.9 million), despite a slight drop in revenue, down 6% (to UAH 2.3 billion).
Another newcomer to the ranking is Techno-Bud-Center (owned by Andriy Yarema and Yuriy Khanin). Its revenue grew 1.6 times to UAH 2.2 billion, and its profit grew 1.5 times to UAH 26 million.
The top ten is rounded out by Vesta-I, which in March 2025 was headed by a new owner, Tajik citizen Karimi Asolat Ismatzoda. The company demonstrated a fourfold increase in revenue to UAH 2.2 billion, but instead of a profit, it recorded a loss of UAH 1.9 million.
Stability among the leaders is the result of experience
Taras Zagorodniy, Managing Partner of the National Anti-Crisis Group, explains in a conversation with journalists [Kommersant] explains why road companies hold the lead among the country’s largest construction companies:
“Let’s put it this way, roads are logistics, first and foremost. Active logistics, for example, for the transportation of equipment and goods, all of which is carried out by heavy vehicles, which significantly wears out the road surface. Therefore, the roads must be in good condition – it is not only a matter of infrastructure, but also of security and defense capability,” the expert emphasizes.
According to Zahorodnyi, post-war reconstruction will require proven performers.
“It makes no sense to restore anything in the frontline regions now, because it can be destroyed again. We need to understand that roads are a strategic asset that must remain functional even during hostilities,” adds Zahorodniy.
It is worth noting that in 2025, several players dropped out of the list of the top ten construction companies in Ukraine:
- Solagro left the ranking due to a change in its core business.
- Natural Resources (associated with the Pinchuk family) lost ground, although its profit increased to UAH 656 million. The main reason for the drop was a 15% decline in revenue.
- Kyivmiskbud showed a twofold drop in revenue to UAH 904 million. At the same time, the company managed to end the year with a positive financial result for the first time.
- Monolith Budservice showed stable but not dynamic performance, with almost no changes over the year, which prevented it from staying in the top 10.
Ukrhydroenergobud, despite an increase in revenue to UAH 2.03 billion, ended the year with a loss of UAH 61 million, which also deprived it of its place among the leaders.
