MHP

LSE-listed MHP, Ukraine’s largest poultry producer, reported 1Q25 revenue of $779m (-0.6% q-o-q, +8.3% y-o-y), EBITDA of $120m (-22% q-o-q, -5.5% y-o-y; incl. IFRS 16 effect), and net income of $32m (+11x q-o-q, +100% y-o-y). EBITDA before IFRS 16 stood at $111m, down 14% q-o-q and 6.7% y-o-y. Export sales totaled $489m, flat y-o-y, accounting for 63% of total revenue. End-1Q25 net debt before IFRS 16 stood at $1,192m, for a Net Debt to EBITDA ratio of 2.13x (vs. 2.08x at end-2024). End-1Q25 cash balances totaled $359m, up slightly from $355m at end-2024, with c. 60% of the total held outside Ukraine.

LSE-listed MHP, Ukraine’s largest poultry producer, reported 2024 sales of $3,046m (+0.8% y-o-y), EBITDA of $632m (+24% y-o-y; incl. IFRS 16), and net income of $144m (+1.4% y-o-y). EBITDA before IFRS 16 stood at $566m, up 27% y-o-y. The results imply 4Q24 sales of $784m (+7.8% y-o-y), EBITDA of $154m (+9.2% y-o-y; incl. IFRS 16), and net income of $3m (-85% y-o-y), with a flat EBITDA margin of 20%.