**Summary of MHP SEs 3rd Quarter 2025 Financial Results**
MHP SE, a leading international food and agri group, reported its audited results for the third quarter and nine months ended September 30, 2025. Despite the ongoing war in Ukraine, MHP demonstrated resilience, achieving good operational and financial results. Key highlights include
### **Operational Highlights**
**Ukraine Operations**Poultry meat production decreased by 10% year-over-year (y/y) in Q3 2025 to 151,023 tonnes due to war-related challenges. However, the average poultry meat price increased by 18% y/y to $2.45 per kg.
**European Operations**Poultry meat production (excluding UVESA) increased by 7% y/y to 41,288 tonnes in Q3 2025. The average price rose by 3% y/y to €3.66 per kg.
**UVESA Acquisition**MHP acquired a 92% stake in Grupo UVESA in July 2025, adding significant production capacity and access to Spains agri-food market. UVESA produced 32,913 tonnes of poultry meat and 19,537 tonnes of pork in the first two months post-acquisition.
### **Financial Highlights**
**Revenue**Increased by 29% y/y to $1,000 million in Q3 2025, driven by higher prices and the inclusion of UVESAs results.
**Operating Profit**Rose by 15% y/y to $177 million, though the operating margin decreased to 18% from 20% in Q3 2024.
**Adjusted EBITDA**Increased by 27% y/y to $219 million, with a stable margin of 22%.
**Net Profit**Surged by 46% y/y to $140 million, benefiting from a favorable foreign exchange gain.
### **Nine-Month 2025 Performance**
**Revenue**Grew by 16% y/y to $2,635 million, supported by higher poultry prices and the UVESA acquisition.
**Operating Profit**Declined by 10% y/y to $313 million due to higher payroll and war-related expenses.
**Net Profit**Increased to $215 million from $141 million in 9M 2024, aided by a $23 million foreign exchange gain.
### **Segment Performance**
**Poultry and Processed Meat**Revenue increased by 23% y/y to $505 million in Q3 2025, with adjusted EBITDA up 28% to $73 million.
**Vegetable Oil Operations**Revenue declined by 25% y/y to $89 million in Q3 2025, with adjusted EBITDA down 53% to $7 million due to margin pressure.
**European Operating Segment**Revenue surged by 111% y/y to $317 million in Q3 2025, driven by the UVESA acquisition.
### **Global Expansion and War Impact**
**UVESA Acquisition**Strengthened MHPs European footprint, with integration focusing on operational alignment, efficiency, and product innovation.
**War in Ukraine**Continued to pose challenges, including energy disruptions, staffing issues, and infrastructure damage. MHP incurred $51.5 million in war-related expenses in 9M 2025.
### **Financial Position**
**Net Debt**Increased to $1,529 million as of September 30, 2025, with a Net Debt/LTM adjusted EBITDA ratio of 2.61, well <mark style="background-color:yellow">below</mark> the covenant limit of 3.0.
**Cash Flow**Net cash from operating activities was $359 million in 9M 2025, with cash used in investing activities at $478 million, primarily for the UVESA acquisition.
### **Outlook**
MHP remains focused on managing war-related challenges while pursuing growth through strategic acquisitions and operational efficiency. The company is actively monitoring peace negotiations and their potential impact on its operations in Ukraine.
For detailed results and presentations, visit [MHPs website](https://mhp.com.ua/en/mhp-se/results-and-presentations).