MHP SE, the parent company of a leading international agro-industrial group with headquarters in Ukraine, has released its unaudited results for the third quarter and nine months ended September 30, 2024. The companys revenue remained stable at US$2.262 billion for the nine-month period, with export sales accounting for 60% of total revenue. The decrease in revenue from Poultry and related operations, along with Vegetable Oil, was offset by improved performance in Agriculture and European operations. Gross profit increased by 35% to US$627 million, driven by increased profitability in Agriculture operations due to higher grain and oilseed prices. Operating profit rose by 40% to US$346 million, while profit for the nine-month period was US$141 million. The Groups cash and cash equivalents amounted to US$327 million, with US$164 million held by subsidiaries outside Ukraine. The Net Debt/LTM Adjusted <mark style="background-color:yellow">EBIT</mark>DA ratio was 2.12, below the limit of 3.0 defined in the Eurobond agreement. The Groups business operations continue to be impacted by the ongoing war in Ukraine, with disruptions in supply chains, higher costs, and physical destruction of infrastructure.
| Year | Revenue | Export Revenue | Operating Profit | Adjusted EBITDA | Net Profit | Debt |
|---|---|---|---|---|---|---|
| Q3 2024 | $773M | $415M | $154M | $173M | $96M | $1,496M |
| Q3 2023 | $739M | $411M | $95M | $111M | $55M | $1,547M |
| 9M 2024 | $2,262M | $1,368M | $346M | $437M | $141M | $1,537M |
| 9M 2023 | $2,294M | $1,385M | $247M | $329M | $122M | $1,537M |