News Column


August 31, 2014

MHP has reported 2Q14 IFRS. Revenues declined 7% YoY to USD 329mn, while EBITDA was up 26% YoY at USD 101mn. Net income was USD 45mn. In 2Q14, MHP generated USD 47mn in operating cash flow (USD 39mn in 2Q14) and invested USD 36mn into the Vinnitsa plant, silo reconstruction and new agro machinery. Total debt stayed flat QoQ at USD 1.3bn, while net debt to LTM EBITDA decreased from 2.6x to 2.4x. In June, the company signed an agreement with IFC for a USD 250mn loan to refinance bonds maturing in April 2015.

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Source: EMBIN (Emerging Markets Business Information News)

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