Q2 2024 Mhp Se Earnings Call Transcript
Key Points
- Adjusted EBITDA increased by 21% to USD 264 million, driven by stronger results in the agricultural business.
- Group revenue remained relatively stable, reaching USD 770 million in Q2 2024.
- The agricultural division showed significant improvement with a record high wheat harvest and strong corn sales.
- MHP SE (MHPSY) continues to invest in renewable energy sources to boost energy independence and resilience.
- The European operations segment saw substantial growth, with EBITDA increasing to USD 49 million in Q2 2024.
- War-related costs and losses amounted to USD 26 million in the first six months of 2024, significantly higher than the previous year.
- Poultry sales decreased by 8%, mainly due to decreased exports.
- Vegetable oil segment experienced a negative trend in sunflower oil prices, leading to decreased margins.
- Total CapEx increased significantly to USD 134 million, driven by investments in culinary strategy and energy projects.
- The ongoing war in Ukraine continues to pose significant operational challenges and risks to MHP SE (MHPSY)'s production facilities.
Ladies and gentlemen, thank you for standing by. And I would like to welcome you to MHP's second half -- second-quarter 2024 results conference call. (Operator Instructions)
So without further ado, I would now like to pass the line to Anastasiya Sobotyuk. Please go ahead, ma'am, your line is open.
Thank you very much. Dear stakeholders. Good day to you. Thank you for joining us today. We are at MHP's conference call dedicated to the second quarter and six-months 2024 results. I am Anastasiya Sobotyuk, Director of Investor Relations and ESG compliance, together with Viktoria Kapelyushnaya, CFO of MHP will discuss MHP's financial and operational results.
Today's call is based on a press release and financial statements released earlier today. However, during our call, we will discuss our projections and plans based on our assumptions, domestic and international plans. Please take it into consideration. So we are now on slide number
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