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«AgroInvest» — News — MHP released preliminary Q3 2014 financial report data, showing USD 32 million net loss

MHP released preliminary Q3 2014 financial report data, showing USD 32 million net loss

2014-11-18 16:45:25

According to the official information, released by the company, MHP completed third quarter of 2014 with increase of poultry production volume by 9% or 133.7 thousand tons compared to the same period in 2013. Comparing 9 months of 2014 to the same period in 2013, production volume was 16% higher at 403 thousand tons. Average chicken price was 37% higher at UAH 22.08 per kg in the third quarter and 15% higher at UAH 18.61 per kg on average over 9 months of 2014. Finally, company increased its meat exports to 44.6 thousand tons in Q3 2014, 48% higher compared to the same period in 2013. Chicken exports were 20% higher at 102.1 thousand tons over 9 months of 2014.

Company’s sales revenue has declined by 6% in the Q3 2014 at USD 397 million, while it was 4% lower at USD 1 034 million over 9 months of 2014. MHP reported 71% growth of operating profit to USD 154 million as EBITA rose by 47% to USD 181 million in the third quarter of 2014. EBITDA margin reached 46% in the third quarter of 2014 compared to 29% in the same period of 2013. Net loss in the third quarter reached USD 32 million in Q3 2014, while it was USD 302 million over 9 months of 2014. Main reason for loss was devaluation of Ukrainian Hryvnya (UAH), which made company debt, denounced in foreign currencies, more expensive.
    
UkrAgroConsult has completed review and recommendations study on investing in Ukrainian Agrarian Sector. You can follow this link to find out more about the study “How to profit from Ukraine’s agricultural sector?”. In case you are interested in state of agrarian sector in Ukraine, please follow the link below to read UkrAgroConsult quarterly report “Agrarian Business in Ukraine”. You can subscribe to the report to receive it on a monthly basis. MHP also announced resignation of company’s CEO Yuriy Kosyuk, as new CEO, Yuriy Melnik  became new CEO of MHP.

 

 

 

UkrAgroConsult