MHP SE (MHPC.L) on Wednesday posted higher profit in the first quarter of 2025, helped by a non-cash foreign exchange gain during the period and strong demand for poultry products. The company's revenues also rose 8 percent from last year.
The Ukraine-based agro-industrial holding company's pre-tax profit for the period climbed to $39 million from $14 million in the first quarter of 2024.
The company posted profit for the period of $32 million or $0.30 per share, higher than last year's $16 million or $0.16 per share. This increase was mainly due to a $13 million non-cash foreign exchange gain during the quarter, compared to a $40 million foreign exchange loss in the year-ago period.
MHP SE said that revenue for the three-month period rose to $779 million from $719 million. The company added that there was revenue growth across all segments, helped mainly by the Poultry and Agriculture segments, due to higher poultry meat prices and increased grain sales volumes.
The company said that adjusted EBITDA, net of IFRS 16, declined 7 percent to $111 million from $119 million in the year-ago quarter. Adjusted EBITDA margin, net of IFRS 16, also fell to 14 percent from last year's 17 percent.
Operating profit, howeveer, fell to $60 million for the three-month period from $84 million for the same period a year ago.
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