Kormotech reaches a new milestone in 2023: $152 million in sales

In 2023, Kormotech finished with total sales of $152 million, surpassing the company’s goals by $2 million. Sales volume reached 77.4 thousand tons, which is 10.5 thousand tons and 15.7% more than the previous year.

“Kormotech’s production, systematic distribution, and visibility in the market have already extended beyond Ukraine, and we continue to build the recognition of our brands and reputation abroad, integrating into global industrial processes. Our goal for the next five years is to enter the TOP-30 world pet food manufacturers, achieve yearly sales of $500 million, and scale up into a global company,” said Rostyslav Vovk, CEO and co-owner of Kormotech.

The company invested $6.55 million in expanding its production facilities in Ukraine and Lithuania.

Export vs. domestic sales

While the pet food manufacturer continues to be a market leader in its homecountry, Ukraine, 69% of sales (in volume) is currently from abroad.

Kormotech sells its products in 42 countries around the world. In 2023, they saw the biggest growth in Romania (35%), Poland (11%), and Moldova (11%). And in the past year, the company signed contracts with partners from South Korea and Malaysia, started selling in Finland, and actively expanded into Spain and Italy.

Advocate for animal welfare

One of Kormotech’s primary focus areas continues to be initiatives to enhance animal welfare in Ukraine. For instance, the philanthropic endeavor “Save Pets of Ukraine” by Kormotech has successfully garnered $5.4 million in assistance from international donors over two years to aid animals impacted by the conflict in Ukraine.

Through the adoption platform “Look 4 Paws,” more than 1100 animals have been placed into new homes. Furthermore, with the support of the round-the-clock complementary veterinary care service, Optimeal, over 400,000 pet owners have sought assistance.