Finance MHP: QII Results
In QII 2018, the company has been launching the first production sites of Phase 2 of the Vinnytsia Poultry Complex. Since the end of May, two rearing sites (brigades) of the Complex commenced operations. At the beginning of July, the slaughterhouse commenced operations.
Poultry production volumes reached 155,725 t, up by 7%. The average chicken meat price increased by 20% year-on-year to UAH 39.38 per kg (excluding VAT). Chicken meat exports, at 70,145 t, remained stable compared to QII 2017 -71,332 t.
Revenue of $ 388 mill., increased by 21% year-on-year. Export revenue of $ 223 mill., 57% of total revenue. Operating profit of 150 mill. remained stable year-on-year, operating margin was 39%. Adjusted EBITDA margin decreased to 45% from 54%; adjusted EBITDA slightly increased to $ 174 mill. from $173 mill.. Net profit is $100 mill., compared to US$ 153 mill. for QII 2017.