MHP Posts USD 49 Million For Q1, Ups Revenues By 1% To USD 447 Million In Q1

In January-March 2023, MHP (Kyiv), one of the largest poultry meat producers, received a net profit of USD 49 million against a loss of USD 108 million for the same period in 2022.

This is stated in the company's report, Ukrainian News Agency reports.

At the same time, during the specified period, revenue grew by 35%, or USD 193 million, to USD 746 million.

It is noted that in the 1st quarter of 2023, the adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased 2.5 times to USD 124 million compared to the 1st quarter of 2022.

As Ukrainian News Agency earlier reported, MHP ended 2022 with a loss of USD 231 million year over year (USD 393 million).

In 2022, revenue increased 11.4%, or USD 270 million, to USD 2,642 million.

In 2022, adjusted EBITDA decreased by 38% year over year to USD 443 million.

On February 2, 2021, the Myronivskyi Hliboproduct company officially changed its legal name to MHP.

MHP is a vertically integrated enterprise complex for producing chicken, hatching eggs, and fodder.

The founder of the company is Yurii Kosiuk.