Viktor Ponomarchuk, originally from Vinnitsa, is the visionary founder and chairman of the board for ViOil, a leading industrial group. A significant figure in the Vinnitsa region, he’s one of its primary taxpayers and employers. Under Ponomarchuk’s leadership, ViOil has emerged as a premier producer of oilseed products in Ukraine. With its expansive network of production facilities across Ukraine, Ponomarchuk’s ViOil consistently exports its high-quality products to regions including Europe, the Middle East, Southeast Asia, and Africa.
Contents:
- Journey of Viktor Ponomarchuk: From Vinnitsa to Entrepreneurship
- Viktor Ponomarchuk’s Academic Pursuits
- Family Life
- Career
- Journey of Viktor Ponomarchuk: From Vinnitsa to Entrepreneurship
- Accolades and Recognition
- Ponomarchuk’s Four Pillars of Business Success
Partnerships with European Financial Institutions
Viktor Ponomarchuk spent his early years in Vinnitsa. His father served in World War II, and his mother was an accountant.
As a young man, Ponomarchuk attended an art school and developed a passion for the exact sciences, particularly mathematics. He began working and supporting himself during his teenage years; among other things, he crafted mosaic panels.
Viktor Ponomarchuk’s Academic Pursuits
Viktor embarked on his academic journey at Vinnitsa Polytechnic Institute, where he specialized in telematics engineering. After completing his degree, he delved into scientific research, particularly during the early post-Soviet years. However, recognizing the shifting economic landscape of an independent Ukraine, Viktor transitioned his focus to entrepreneurship.
Career
In the 1990s, Viktor Ponomarchuk embarked on his entrepreneurial journey. After extensive research into promising sectors like agriculture and dabbling in stock exchange and brokerage, he co-founded the “KMT” holding company in 1997. The company diversified into real estate, machinery manufacturing, and wholesale trade, including oils and vegetable fats. Ponomarchuk held a 50% stake.
By 1998, “KMT” had acquired two financially troubled oil and fat plants (OFPs) in Vinnitsa and Chernovtsy. Under Ponomarchuk’s vision, these companies became trailblazers in Ukraine, processing low-grade rapeseed for technical purposes, thereby stimulating demand for rapeseed. They further improved the raw material quality by distributing high-quality French seeds to farmers.
Under his leadership, the company was one of the first to introduce the branded “Violiya” oil in plastic bottles. This innovation drove exports to CIS countries, Central Asia, and the Baltic states.
In 2006, Viktor Ponomarchuk stepped away from “KMT” to carve out his own path, founding an agriculture-centered industrial group, ViOil. Beginning with just 2 OFPs and 7 grain elevators, under Ponomarchuk’s leadership, ViOil rapidly expanded, astutely capitalizing on the burgeoning oil-processing industry. Remarkably, within a span of two years, the region’s sunflower production skyrocketed, seeing a fivefold increase.
Under Ponomarchuk’s guidance, ViOil ventured into the realms of soybean oil and meal production. The economic challenges of 2008 posed significant hurdles for many, but Ponomarchuk’s strategic foresight ensured not only ViOil’s survival but its growth. The company used this period to acquire several grain elevators and embark on a mission of modernization.
By the onset of the 2010s, ViOil, championed by Ponomarchuk, had solidified its stature in the market, marking its presence with exports of up to 190,000 tons of oil. 2013 saw the inauguration of a state-of-the-art oil extraction plant in Vinnitsa, which had the effect of tripling ViOil’s production output. This momentum continued, and soon after, the company also tripled its soy processing capacities.
Today, under the visionary leadership of Viktor Ponomarchuk, ViOil boasts a workforce of two thousand dedicated professionals, oversees thirteen grain storage facilities, and has a predominant export-centric operation. The company takes pride in distributing approximately 300,000 tons of sunflower and rapeseed oil annually, reaching over 60 countries worldwide.
Ponomarchuk’s enterprising spirit didn’t stop there; he has strategically expanded ViOil’s dominion to include 26 distinct entities dispersed throughout Ukraine, with notable mentions including the esteemed JSC “Kordelevskiy Regional Inter-farm Feed Mill.
Partnerships with European Financial Institutions
Viktor Ponomarchuk’s enterprises have forged robust ties with international financial institutions and European banks. This strong collaboration underscores the business’s transparency and the trust it has garnered in the financial community.
In 2015, ViOil successfully procured a syndicated loan worth 40 million dollars, facilitated by the European Bank for Reconstruction and Development (EBRD) and ING Bank N.V. This financial injection bolstered the company’s working capital.
Fast forward to 2017, a consortium of European banks granted the group pre-export financing to the tune of 80 million dollars. This substantial backing catered to the working capital requirements for the 2017/18 fiscal year.
Accolades and Recognition
- 2016: Ranked third among the top-10 vegetable oil producers and secured both eighth and tenth positions among the top-10 sunflower oil exporters.
- 2017: Attained the following ranks in Ukraine:
- Third in the top-15 soybean meal producers.
- Tenth in the top-15 refined sunflower oil producers.
- Third in the top-10 rapeseed oil producers.
- Tenth in the top-20 soybean oil producers.
- Third among the top-15 unrefined sunflower oil producers.
- 2018: Achieved fifth place among the top-10 soybean meal exporters from Ukraine.
In 2020, “Focus” magazine named Viktor Ponomarchuk the 90th most successful businessman in Ukraine, accrediting him with a net worth of 85 million dollars.
Ponomarchuk’s Four Pillars of Business Success
- Forward-Thinking: Ponomarchuk believes in creating a business that will perform better tomorrow than today. By diving into an industry that was long-neglected, he has been able to achieve remarkable success.
- Attention to Detail: The meticulous observation of every facet of his business is key. Ponomarchuk personally visits his factories multiple times a month, ensuring he understands the ins and outs of the operation.
- Delegation: Scaling a business is impossible if an owner is bogged down by daily tasks. Ponomarchuk emphasizes the importance of delegating authority.
- Continuous Learning: Perhaps the most crucial pillar is the commitment to ongoing education, including learning from one’s own mistakes.