2024-05-02T15:58:00+03:00 Economy 2024-09-15T04:26:57+03:00

Ukrainian news

MHP posts USD 142 million profit for 2023

MHP posts USD 142 million profit for 2023

MHP (Kyiv), one of the largest poultry producers, finished 2023 with a net profit of USD 142 million against a loss of USD 231 million in 2022.

This is stated in the company's report, Ukrainian News Agency reports.

At the same time, the company's revenue for the year increased by 14.4%, or USD 379 million, to USD 3.021 billion compared to 2022.

Export revenue was USD 1,807 million, up 13% from last year.

Also last year, adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 15% to USD 508 million compared to 2022, and EBITDA excluding the effect of applying international financial reporting standards (IFRS 16) increased by 16% to USD 445 million.

As Ukrainian News Agency earlier reported, MHP ended 2022 with a loss of USD 231 million against a net profit of USD 393 million in 2021.

In 2022, its revenue increased by 11.4%, or USD 270 million, to USD 2,642 million.

At the same time, the EBITDA cited decreased by 38% to USD 443 million compared to 2021.

On February 2, 2021, the Myronivskyi Khliboprodukt company officially changed its legal name to MHP.

MHP is a vertically integrated complex of enterprises for the production of chicken, hatching eggs, and fodder.

The founder of the company is Yurii Kosiuk.