In January-June 2022, Kyiv-based MHP, one of the largest poultry meat producers, incurred a loss of USD 89 million against the net profit of USD 232 million for the same period in 2021.
This follows from the company’s report, Ukrainian News Agency reports.
At the same time, the loss from foreign exchange differences in the reporting period amounted to USD 92 million compared to the profit from foreign exchange differences of USD 51 million in the first half of 2021.
In January-June 2022, earnings increased by 16%, or USD 160 million, to USD 1,149 million.
Export earnings increased by 27% to USD 640 million and account for 56% of total revenue.
It is noted that in the first half of 2022, the company’s Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) cited decreased two times to USD 169 million compared to the first half of 2021.
In the second quarter compared to the same period in 2021, MHP reduced its profit 11.6 times, or by USD 212 million, to USD 20 million, increasing earnings by 10% to USD 595 million.
At the same time, in the second quarter, the EBITDA cited decreased 2.4 times to USD 119 million.
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.
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