According to the official report released by the company, Myronivskiy Khliboproduct has increased chicken sales by 29% during the third quarter of 2013 to 120.1 tons, while production for 9 months of 2013 has grown by 19% compared to the same period in 2012. At the same price per kilogram of chicken meat has fallen by 8% to UAH 16.12 during the third quarter. Chicken meat exports have grown by 2.3 times and reached 30 thousand tons level for the 3Q 2013. MHP mainly exports to the East, Asian countries and Africa. MHP is aiming to increase its export sales to EU in the nearest future. Company has also increased sunflower oil sales by 22% in 3Q 2013 to 64 100 tons, compared to 2012 levels and by 19% to 175 260 tons for 9 months of 2013. Preliminary results also show increase in production of major grains and oilseeds.  

UkrAgroConsult comment: Based on data available, we can calculate sales revenue of the company for chicken meat and sunflower oil in the third quarter of 2013. Chicken meat revenue reached UAH 1.9 billion level compared to UAH 1.6 billion in the third quarter of 2012, which indicates a 19% increase in sales revenue for chicken on the national market only. At the same time, company has obtained USD 67.8 M in export sales of sunflower oil compared to USD 56.7 M in 2012. We are looking forward to financial reports of the company being released as they will indicated the cost of production side as well, having direct impact on EBITDA.      

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