MHP poultry production scales up by 7% YoY in Q3 2021

The agro and industrial holding founded and chaired by Yuri Kosyuk, MHP, increased its poultry production volumes in Q3 2021 by 7% to 194.2 thou. t (Q3 2020: 181.6 thou. t). The company explains this by a lower share of thinning in Q3 2021 compared to Q3 2020, and it remained relatively stable compared to Q2 2021 (190.9 thou. t). In 9M 2021 poultry production volumes remained relatively stable at 551.7 thou. t (9M 2020: 541.6 thou. t).

As per the company's report, during Q3 2021, MHP's third parties sales decreased by 5% to 185.3 thou. t. In Q3 2021, the volume of chicken meat sales in Ukraine decreased by 12% YoY and reached 76.4 thou. t (by 5% higher compared to Q2 2021: 72.75 thou. t), mainly due to decreased sales of frozen chicken: whole chicken, fillet and quarters.

In Q3 2021, poultry exports remained relatively stable both y/y and q/q and reached 108.9 thou. t of meat. Total poultry exports in Q3 2021 constituted around 59% vs 56% in 3Q 2020 of the total company's poultry sales volumes.

In 9M 2021, poultry sales remained relatively stable and constituted 521.54 thou. t (9M 2020: 523.76 thou. t): poultry sales in Ukraine increased by 10% YoY, while exports increased by 8% YoY — both mainly driven by strong results in sales in H1 2021 compared to H1 2020, the report reads.

Through the third quarter of 2021, the average chicken meat price (both domestic and export) constituted USD 1.79 per 1 kg of natural weight (excluding VAT), increased by 32% YoY, supported by strong prices both in Ukraine and on export markets; in 9M 2021, the average chicken meat price increased by 22% increase YoY to USD 1.64 per 1 kg.

Previously reported that a Slovenian subsidiary of MHP, Perutnina Ptuj (PP), invested over EUR 4.5 mln in new production facilities in Serbia.

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