December 1, 2011

Ukraine-based MHP's net profit shows 27% increase

In the first nine months of 2011, Ukraine's largest industrial poultry meat producer, MHP, increased its net profit by 27% to US$201 million.

Revenues increased by 30% to US$880million, US$204million increase on-year. EBITDA grew by 30% to US$301million, US$62million increase on-year. Consolidated EBITDA margin remained high at the level of 34%.

For last quarter MHP has increased net profit by 105% to US$115million while revenue increased by 39% to US$352 million. EBITDA of the company showed an increase of 44% to US$143million while consolidated EBITDA margin reached 41% in the third quarter of 2011, 2% increase on-year. 

According to the company report, sales of poultry meat to third parties increased by 13% in the first nine months of 2011 compared to same period of the last year and amounted to 282,000tonnes through more efficient use of existing facilities and reduce stockpiles in warehouses.

The average price of chicken in the third quarter of 2011 was 15% higher than on-year. In the first nine months of 2011, the average price for poultry increased by 7% to UAH14.39 (US$ 1.8), UAH0.96 (US$0.12) increase on-year.

Market share of industrial production of poultry meat of MHP in Ukraine for the first nine months of the year was 50%.