According to the official report released by the holding, MHP increased chicken meat sales volume by 22% to 112 270 tons during the first quarter of the current year, compared to the same period of 2013. Domestic sales of chicken meat have increase by 20%, while export sales were 31% higher in Q1 2014. Due to ban imposed by Customs Union, MHP was not able to sell its products on the territories of the member countries in the first quarter, instead substituting these markets with the new ones, including several Middle Eastern, African and Asian ones. Price of chicken meat was on average 4% lower in comparison to Q1 2013 level. Sunflower oil sales for the company have grown by 37% to 67.5 thousand tons in the first quarter of 2014, however price of the commodity was 26% lower than the analogous period in 2013.

Company’s sales revenue increased by 2% to USD 304 million, while EBITDA has grown by 45% to USD 73 million. Company reported net foreign exchange loss of USD 366 million, leading to revaluation of net profit into net loss of USD 316 million. Alex Morgun, financial analyst of UkrAgroConsult stated that MHP ended 2013 with net profit of USD 162.2 million, making first quarter of 2014 loss almost a twofold figure compared to 2013 annual net profit.

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 within CIS region, please follow the link below to read UkrAgroConsult monthly report “Agrarian Business in CIS region” for January 2014 (featuring Ukraine). First issue is free of charge. You can subscribe to the report to receive it on a monthly basis.

UkrAgroConsult