RESULTS FOR THE FIRST NINE MONTHS OF 2025: SFE “FORESTS OF UKRAINE” DEMONSTRATES THE BEST ECONOMIC PERFORMANCE SINCE ITS ESTABLISHMENT
REVENUE, PROFITABILITY, TAXES
The revenue from product sales increased from UAH 17.3 billion to UAH 21.7 billion compared to January–September 2024.
Half of the funds were transferred to budgets at all levels — this year, the enterprise increased its tax payments by almost 70%, reaching UAH 10.7 billion.
The average salaries of forestry workers increased from UAH 22.2 thousand in 2023 to UAH 28.8 thousand in 2025. The salaries of operational staff (foresters, assistant foresters, site managers, drivers, etc.) were increased in several stages. However, due to reorganization and the reduction of the administrative apparatus, the total payroll expenses have remained almost unchanged: compared to 2023, the wage fund of SFE “Forests of Ukraine” increased by approximately 1.5%.
Due to increased revenue from product sales, significant savings on procurement, and cost optimization, profitability rose from 14.8% to 28.6% compared to the previous year.
HARVESTING
In September, the volume of harvested timber reached the highest level in the past five months. The harvesting output amounted to 1.07–1.1 million cubic meters per month.
The market situation is stable: buyers pay for the purchased products and receive them on time. The fulfillment of auction contracts for timber supply exceeds 90%, and taking into account buyers’ refusals — 97%. A significant share of refusals comes from the frontline, eastern, and northern regions, where the risks of harvesting or product delivery have increased.
The fulfillment of six-month forward contracts is almost 100%.
It should be noted that a “refusal” usually means that the buyer did not collect only a certain percentage of the contracted volume. Contracts with no deliveries at all account for less than one percent of the quarterly sales volume.
The company’s timber stock at the end of the quarter is the lowest since the beginning of the year (550 thousand m³).
FIREWOOD FOR HOUSEHOLDS AND THE SOCIAL SECTOR
The harvesting of firewood for households remains at the level of the previous year. Demand has increased; however, no signs of panic buying have been observed. In September, more than 300 thousand m³ of firewood were harvested, and by the end of the year it is planned to harvest an additional over 900 thousand m³, creating a strategic reserve for the winter period.
Exchange prices for firewood have increased significantly since last year. For households and the social sector, SFE “Forests of Ukraine” maintains socially oriented prices at a stable level.
The average price of firewood across Ukraine, as in the previous year, is approximately UAH 1,000–1,100 per cubic meter