MHP reports 9M 2022 performance, net loss reaches USD 269 mln

MHP's net loss for 9M 2022 amounted to USD 269 mln, compared to a profit of USD 377 mln in 9M 2021, primarily reflecting a USD 367 mln non-cash foreign exchange loss in 9M 2022 compared with a USD 75 mln foreign exchange gain in 9M 2021.

The company's export revenue increased to USD 1,110 mln, 32% higher YoY, representing 59% of total revenue (9M 2021: USD 843 mln, 51% of total revenue).

Gross profit in the reporting period dropped by 31% YoY to USD 398 mln.

Poultry production volume in Ukraine decreased by 7% to 515,488 t (9M 2021: 551,729 t). Poultry production volumes of Perutnina Ptuj increased by 11% to 92,892 t (9M 2021: 83,930 t).

Chicken meat exports from Ukraine declined by 14% to 257,250 t (9M 2021: 300,278 t).

MHP faced complex challenges and disruptions to operations in the middle of October when a number of the country’s electricity generation stations were hit by missile attacks. Operations at some MHP facilities had to shut down for a short period of time after these missile hits. As of today, MHP is again operating close to full capacity, using a combination of state grids, electricity generated at MHP’s biogas stations and diesel generators.

Support Latifundist Media

Any amount supports us in ensuring a continuous flow of information for you.