In 2023, Kormotech increased the ratio of pet food sales between exports and the Ukrainian market to 31% versus 69% in tons and 27% versus 73% in sales revenue. At the same time, the growth in the Ukrainian market showed an increase of 3% compared to the same period in the previous year in terms of weight and a significant increase in revenue – 30%, mainly due to inflation.
Kormotech’s market share increased by 1.1 percentage points in weight. The company’s development is facilitated by focusing efforts on product exports. Kormotech continues to create new products, sign contracts with large distributors in foreign markets, and invest in developing production facilities abroad.
With the support of Invest Lithuania, it will invest €60M in constructing a new production facility in Lithuania from 2024 to 2028. The first production line will be launched by 2025, and one line will be added each year.
From 2022 to 2023, Kormotech invested €14M in expanding its production capacities in Ukraine and Lithuania, and it continues to increase production efficiency.