All investments must stay in Ukraine and multiply

14.04.2025

Ruslan Shostak, President of TERWIN

TERWIN’s goal is to develop the next-generation logistics hub, WINHUB. The projected new construction area is around 1 million square meters of warehouses. We aim to complete the project within five years, with total investments of $700 million.

We didn’t build anything in 2024 — we focused on team formation. We are actively purchasing land plots. This year, we will continue construction of the first phase, with 25,000 sq. m of warehouses in Odesa scheduled for delivery in 2026. The total area will be 245,000 sq. m.

Construction of the Kyiv WINHUB warehouse complex will begin at the end of 2025.

We are launching the “Building Ukrainian” initiative. We are collecting applications from contractors, suppliers, and manufacturers ready to work with us long-term — throughout the entire WINHUB project. More than 50 companies have already applied.

All investments must remain in Ukraine and grow. The multiplier effect is important: 1 UAH of investment in construction can generate 7 UAH of economic impact. According to our estimates, the project will create around 20,000 new jobs.

Roughly 200,000 sq. m of class A and B real estate already supports our retail operations. Our acquisition from Dragon Capital was modest — around 20,000 sq. m.

TERWIN Is Not About Personal Ownership

The total revenue of all 17 companies within the TERWIN Group reached around 70 billion UAH in 2024. In 2025, we plan to hit 100 billion UAH. Investment in corporate development totaled approximately 1.9 billion UAH last year.

For EVA and Varus, we aim for annual growth of no less than 30%, driven by market expansion, new customers, and network growth. In 2024, EVA generated nearly 27 billion UAH in revenue, and Varus — 23.9 billion UAH.

We expected better results in the grocery chain, but objective challenges remain — some stores are closing due to the war, and some are near active combat zones, where population outflow is significant.

Part of EVA’s overall revenue was generated by real estate development companies.

Some companies have multiple co-owners. So the consolidated performance of the group is not about individual ownership. The TERWIN Group manages businesses with accountability to shareholders.

TERWIN’s Role in Business Development

We created TERWIN to transfer knowledge from one business to another. The impact of consolidating companies under the group is more about strategy and investment than day-to-day operations.

We’re systematically focused on team development. In partnership with the Aspen Institute, we’re currently training several dozen top managers through the “Business and Society” program.

In three to four years, we envision AI conducting interviews, training staff, and handling internal and external processes. But for now, it’s just a vision — no ready-made solutions yet.

al idea — would already exist.