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MHP poultry prices €50/100kg lower than EU average

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UKRAINIAN poultry giant MHP has revealed its poultry prices are 30% lower than the EU average.

In its latest financial results, the firm said its average price of poultrymeat in the three months to 31 December 2018 was UAH40.56/kg, relatively similar to the previous period.

Converted to Euros, it comes to €132 per 100kg, compared with the €183.33/100kg reported in the latest EU poultry meat dashboard.

Other highlights for the final quarter last year include the launch of new production sites at the  Vinnytsia Poultry Complex.

The results also include full year figures for the year to 31 December.

Over the 12 months chicken meat exports increased by 30% to 286,846 tonnes (12M 2017: 220,983 tonnes), “mainly as a result of increased sales to countries in the MENA (Middle East and North Africa) and the EU countries”.

Results

$000,20182017% change
Revenue1,5561,28821%
Gross Profit4203966%
Gross Profit Margin27%31%-4pps
Adjusted Operating Profit**315365
-14%
Adjusted Operating Profit Margin20%28%-8pps
** Adjusted operating profit from continuing operations before loss on impairment of property, plant and equipmentpps (percentage points)

Chief Executive Officer, Yuriy Kosyuk, said: “During 2018 we enjoyed another year of firm progress in terms of capacity and sales growth, at the same time as continuing to focus on putting in place the foundations for further development.

“In particular: there was a solid start to the construction of Phase 2 of the Vinnytsia poultry complex, with additional volumes produced and exported; our second biogas complex was launched and a new Centre of Innovation was established.

“In line with our strategy of further expansion and growth outside Ukraine, we completed the acquisition of a Slovenian-headquartered poultry and meat-processing company in early 2019. We have also been successfully developing our international projects in Slovakia, the Netherlands and MENA.”