MHP Cuts Sales Of Finished Meat Products By 48% To 8,300 Tons In H1

In the first half of 2022, Kyiv-based MHP, one of the largest poultry meat producers, decreased sales of finished meat products by 48% or 7,765 tons to 8,304 tons compared to the same period last year.

The company announced this in a statement, Ukrainian News Agency reports.

The volume of sales of finished meat products (sausages and smoked meat) in the second quarter of 2022 decreased by 73% year-on-year and amounted to 2,289 tons due to war-related challenges (the operation of the production facilities of Ukrainian Bacon was stopped in early April 2022).

The average price in the second quarter of 2022 increased by 96% and amounted to UAH 88.34 per 1 kg (excluding VAT) mainly due to rising prices for raw materials (poultry).

The volume of sales of semi-finished products in the second quarter of 2022 decreased by 24% year-on-year and amounted to 3,421 tons mainly due to significant difficulties in the HoReCa channel (KFC and McDonalds were forced to suspend operations in Ukraine due to the war).

The average price of semi-finished products in the second quarter of 2022 increased by 16% year-on-year and amounted to UAH 58.94 per 1 kg (excluding VAT) mainly due to the increase in prices for raw materials (poultry), as well as an increase in focus on the sale of more marginal products.

As Ukrainian News Agency earlier reported, in 2021, MHP increased sales of finished meat products by 4% or 1,330 tons to 33,950 tons compared to 2020.

The company ended 2021 with a net profit of USD 393 million, increasing revenue by 24.1%, or USD 461 million, to USD 2.372 billion.

On February 2, 2021, Mironivsky Hliboproduct officially changed its legal name to MHP.

MHP is a vertically integrated complex of enterprises producing chicken, hatching eggs, feed, engaged in crop production, cultivating 360,000 hectares of land, and producing chicken meat under the name Nasha Riaba.

Yurii Kosiuk is the founder of the company.