MHP posts profit in Q1 2021
27 May 2021
MHP, Ukrainian largest poultry producer, has posted net profit of $1 million in Q1 2021, as compared to net loss of $174 million in Q1 2020. In Q1 2021, MHP’s consolidated revenue remained stable and amounted to $447 million, a 1%-increase as compared to the same period last year. Revenue from export sales in Q1 2021 was 49% of total revenue and amounted to $216.5 million (Q1 2020: 53% and $237.4 million). Operating profit decreased 66% to $15.9 million in 1Q 2021, as compared Q1 2020, mainly due to a decrease in gross profit. Adjusted EBITDA margin fell from 20% in Q1 2020 to 13% in Q1 2021.
Meanwhile, the company reports a significant growth of poultry production costs due to the increasing prices for grains and compound feedstuff. Accordingly, poultry prices also keep growing.