In January-March 2022, Kyiv-based MHP, one of the largest poultry meat producers, incurred a loss of USD 122 million against the net profit of USD 1 million for the same period in 2021.
The company has said this in a statement, Ukrainian News Agency reports.
At that, for the specified period, earnings increased by 24%, or USD 106 million, to USD 553 million.
It is noted that in the 1st quarter of 2022, the Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) decreased by 16% to USD 53 million compared to the 1st quarter of 2021.
War-related spending for the 1st quarter was USD 25 million, of which donations to public support accounted for 53%, inventory and asset write-offs - 33%, and other war-related spending - 14%.
According to the report, the company's Ukrainian business is still operating with about 85% capacity utilization in poultry farming.
As Ukrainian News Agency earlier reported, 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.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.