YC.Market has investigated how the hospitality industry has changed during the war
26 December 10:56
Last year, the revenues of food establishments reached UAH 31.6 billion and increased by 120% compared to 2022. This was reported by YC.Market, whose analysts analyzed the dynamics of changes in the restaurant services segment in Ukraine, Komersant ukrainskyi reports.
It is noted that the total net income in 2023 exceeded the figures before the full-scale invasion: the increase from 2023 to 2021 amounted to 26% (UAH 25 billion).
The number of companies in 2023 increased by almost 30%: while in 2022, according to the State Statistics Service, there were 2.6 thousand active companies, in 2023 there were more than 3.5 thousand.
Rating of regions by income
It is clear that Kyiv dominates in terms of net income: in 2023, the capital’s restaurants generated more than UAH 23 billion, which is 72% of the total income in Ukraine. More than 1.2 thousand companies operate in the capital, making it the center of the gastronomy industry.
Dnipropetrovska oblast is the second largest in terms of net revenues, which amounted to UAH 1.6 billion (5%) in 2023. More than 200 companies are active here.
In 2023, the net income of companies in Lviv region amounted to almost UAH 1.4 billion (4.4%), which ranked the region third. More than 400 gastronomy companies are active in the Lviv region.
How revenues have changed
Revenues of companies in Kyiv increased by more than two and a half times: uAH 23 billion in 2023 compared to UAH 8.9 billion in 2022. Rivne region is in second place in terms of revenue growth. The region’s net income more than doubled (128%): UAH 266 million in 2023 compared to UAH 116.9 million in 2022. Revenues also more than doubled (122%) in Kherson region, where companies generated UAH 26.8 million in 2023, due to the liberation of the Kherson region.
Top ten most profitable restaurants
Among the largest players in the sector, McDonald’s remains the undisputed leader, earning more than UAH 12.9 billion in 2023, which is almost 40% of the total revenue of the sector. The company’s revenue growth in 2023 compared to 2022 was 297%.
KFC franchisees collectively generated UAH 2.5 billion in revenue, demonstrating stable growth in different regions of Ukraine.
Among other well-known brands in the top ten: Puzata Khata – almost UAH 951 million, Domino’s Pizza – over UAH 369 million, Sushiya Japanese restaurant chain – over UAH 322 million, and Salateira – almost UAH 289 million.
Results of individual entrepreneurs
The increase in the number of registrations of individual entrepreneurs engaged in entrepreneurial activity in the food industry in 2023 (19.4 thousand) compared to 2022 (9.8 thousand) was almost 100%. The increase in the number of newly created individual entrepreneurs in 2023 compared to 2021 (16.9 thousand) was almost 15%. Comparing the first nine months of 2024 with the same period in 2023, a slight decline in registrations of 4% was recorded.
The largest number of new sole proprietorships in this industry in 2023 – November 2024 was opened in Kyiv (4.2 thousand), Dnipro (2.5 thousand), Lviv (2.3 thousand), and Kyiv (2.2 thousand) regions.
YC.Market also explained the specifics of the calculations. Using the YC.Market tool, the sample included all companies that declared income in their financial statements, with the following main business activities:
56.10 Operation of restaurants
56.21 Supply of ready meals
47.99 Other types of retail trade outside stores
56.30 Serving of beverages
All figures are calculated in nominal terms in UAH, excluding inflation and exchange rate changes.
Annual financial statements for 2021, 2022, and 2023 were used for the analysis, as fewer business entities submit quarterly reports.
