The three largest IT companies on the Ukrainian market earned over $1 billion in 2022
In 2022, the top 30 IT companies in Ukraine received $412 million more in revenue than in 2021
The highest earnings were made by EPAM Systems Ltd – $625 million, and the biggest growth was seen by Grid Dynamics Ukraine – 886%. In second place is the Regional Gas Company, which increased its income by 208%. Third place was taken by the Institute of Information Technologies Intellias Ltd – 51%.
This was reported by the Better Regulation Delivery Office (BRDO).
Ten companies out of 30 finished 2022 with less income than in 2021. For some companies, this is due to a decrease in demand for their services within Ukraine (for example, for the owner of Ukrainian marketplaces Uaprom Ltd), for others, it's a decision to reduce development volume in Ukraine (for example, for Ubisoft Ukraine Ltd).
"The most profitable on the Ukrainian market are product companies. They often work at the intersection of IT and other sectors: banking (Fintech Band Ltd), payment processing (Ukrainian Processing Centre Ltd and Visa Ukraine) and online retail (Uaprom Ltd). Among service companies, the market leader EPAM Systems Ltd has the highest margin," BRDO reports.
Background. Earlier, Mind wrote about why Ukrainian IT exports were falling.
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