MHP revenue increased by 21% in the second quarter of 2018

According to the company’s report, the revenue of the Myronivsky Hliboproduct (MHP) agro-industrial holding increased by 21% in the second quarter of 2018 compared to the same period last year and amounted to USD 388 million.

During the first half of the year, the revenue increased by 16% to USD 694 million.

The report notes that export earnings amounted to USD 223 million (57% of the total revenue) in the second quarter of 2018 and USD $ 385 million (55%) in the first half of the year.

In the second quarter of 2018, the company’s EBITDA grew to USD 174 million against USD 173 million, and the net profit amounted to USD 100 million compared to USD 153 million in the second quarter of 2017

“In the first half of the year, the net profit was USD 190 million, which was 10% lower compared to the first half of 2017. This was mainly due to the decline of the state subsidies (USD 24 million), and a one-time payment (USD 33 million) associated with the issue of new Eurobonds in April 2018, which was partially offset by non-monetary profits from exchange rate differences,” the report says.

Reference: MHP has become one of the TOP most successful agricultural investors.