Ukrainian MHP increases poultry meat sales 5% in 2023 to almost 700,000 tonnes

MOSCOW. May 7 (Interfax) - MHP Agroholding, Ukraine's largest chicken meat producer, increased poultry meat production at its enterprises in the EU 6% in 2023 compared to the previous year, to 131,020 tonnes, and 3.1% at its Ukrainian enterprises to 718,640 tonnes, Ukrainian media reported, citing the company's statement on the London Stock Exchange.

MHP increased the total sales volume of poultry meat 5% in 2023 to 691,980 tonnes , which includes a significant increase in exports from Ukraine of 8% to 396,920 tonnes, mainly as a result of an increase in sales of chicken meat in the EU.

The average price for poultry meat produced by MHP in Ukraine remained stable in 2023 and was in line with the previous year at $1.95 per kg (excluding VAT). The average price for poultry meat produced in EU countries increased 6% to 3.54 euro per 1 kg.

Revenue in this business segment increased 8% in 2023 compared to 2022 as a result of increased sales of poultry and meat products, as well as higher average prices for meat products. Meanwhile, gross profit increased to $402 million, mainly due to increased sales volumes in export markets and higher prices for processed poultry meat.

Adjusted EBITDA in the poultry segment increased to $319 million.

MHP is the largest chicken producer in Ukraine. It is also engaged in the production of grains, sunflower oil, and meat products.