The largest producer of chicken meat received $8 million losses

The largest producer of chicken meat received $8 million losses

17.11.2016 News

As Interfax-Ukraine reported, Mironivsky Hliboproduct Agricultural holding   finished the third quarter 2016 with the net loss of $8 million against $24 million a net profit last year. Following the results of nine months the net profit of the company  is constituted $86 million

The Mironivsky Hliboproduct Agricultural holding (MHA)  has received 8 million dollars net loss for July-September, 2016 against $24 million a net profit for the same period of 2015.

According to the financial statement of the company on Wednesday, MHA revenue for this period grew by 6% — to $369 million, the gross profit — for 20%, to $89 million.   EBITDA was reduced by 9%, to $105 million.

In January-September of 2016 Agricultural holding has finished with a net profit in $86 million against net loss $37 million for the same period of 2015. MHP revenue in nine months 2016 remained $899 million at the level of the same period in the  last year.

Export revenue for the third quarter is stated in $201 million that has  constituted 54% of total sales for this period. The operating profit has decreased by 1%, to $79 million, EBITDA margin — to 28% from 33% for the same period of 2015. Non-cash losses from an exchange difference for July-September are estimated at $51 million (the third quarter 2015: $35 million).

For January-September, 2016 export revenue constituted $455 million, or 51% of total sales. The operating profit has  decreased by 14% in comparison with the same period of last year, to $270 million. EBITDA margin constitutes 38% Last year  it indexed 43%. Non-cash losses from an exchange difference  estimated at $88 million. For the 9 months of 2015, it constituted  $289 million.

The Agricultural holding informs: “The company invests in the future organic growth of capacities on production of fowl in Ukraine and in an increase in the export generally to the countries of the Middle East and the EU”.

In particular, MHA founded the overworking plant in the EU and opened the sales office and distributions in the UAE, following the export strategy.

Mironivsky Hliboproduct Agricultural holding  is the largest producer of chicken meat in Ukraine. Is engaged also in production grain, sunflower oil, meat processing products.

Net loss of MHA in 2015 has  constituted 126 million dollars that is in  3,3 times fewer than in 2014. It  revenue has reduced by 14% — to $1,18 billion.

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