MHP net profit for 9M 2019 boosted 2x

MHP reports an increase in its net profit for 9M 2019 by 94% from USD 142 mln in 9M 2018, including foreign exchange gains of USD 182 mln, compared to FX losses of USD 16 mln in 9M 2018.

The company's revenue increased by 33% year-on-year to USD 1,505 mln (9M 2018: USD 1,133 mln). Export revenue reached USD 869 mln, comprising 58% of total revenue (9M 2018: USD 660 mln, 58% of total revenue).

Operating profit stood at USD 218 mln having reduced by 23% year-on-year from USD 283 mln and operating margin declined from 25% to 14%.

Adjusted EBITDA of USD 357 mln was down marginally from the prior year, adjusted EBITDA margin declined from 32% to 24%.

In H1 2019, MHP revenue reached USD 946 mln, having increased by 36% year-on-year (H1 2018: USD 694 mln).