State Enterprise “Forests of Ukraine” reported UAH 29.9 billion in revenue, UAH 8.4 billion in pre-tax profit, and a 23% profitability for 2025, CEO Yuriy Bolokhovets stated on Facebook.
He noted that the company paid UAH 15.8 billion in taxes for 2025, representing 44% of revenues—the highest share in the forestry and wood-processing sector.
“For perhaps the first time since independence, billion-hryvnia profits from timber sales were not siphoned through shadow schemes or divided among officials and intermediaries, but fully directed to the budget. The numbers are clear and allow the enterprise’s performance to be evaluated objectively,” Bolokhovets wrote.
The CEO attributed much of this growth to transparency measures. The sales system is now fully open: every exchange deal is published, detailing the buyer, timber volume, and price, along with a list of rejected lots.
In 2025, the enterprise shifted 100% of timber procurement services to Prozorro. Due to staff shortages, contractors often cannot complete work on time, prompting the creation of additional in-house brigades and the opening of new lumberjack positions nationwide.
For 2026, “Forests of Ukraine” plans to increase timber harvesting. Procurement of specialized equipment—harvesters, forwarders, skidders, tractors, trailers, and timber transport equipment—has already begun. The investment plan for 2026 is set to double to accelerate harvesting.
“We aim to offer the largest timber volumes on the market since the start of the full-scale war. We expect an additional one million cubic meters from faster approval of forest management materials and another million from deregulation of permitting procedures. Draft regulatory changes are ready, but final decisions have yet to be made,” Bolokhovets said.
In 2026, “Forests of Ukraine” also plans to increase investments in forest protection, conservation, and reforestation, focusing on care for forest plantations to supply high-quality timber to the market. The recreation development program will continue.
