Page 76 - UKRRptOct20

operating in eight countries, Wildberries is now owned by Tatyana Bakalchuk, listed by Forbes as the richest woman in Russia. In deference to Ukrainian sensibilities, the Wildberries operation in Ukraine will answer to Wildberries Poland and the merchandise for sale here has been purged of images of communism and Putinism.
Kyiv’s Blockbuster Mall, Ukraine’s largest mall, started to open this month ​at the intersection of Stepan Bandera Avenue and Naberezhno-Khreschatytska Street. This fall, 100 stores and the Galaktika entertainment park are opening, filling a gross leasable area of 160,000 square meters. By the end of this year, 80% of the tenants are to move in, according to Vitaliy Boyko, General Director of NAI Ukraine, the developer, tells Interfax-Ukraine.
Lithuania-owned Novus is buying Austria-owned Billa supermarkets.
Established in 2008, Novus has 46 stores with a total area of 220,000 square meters. Last month, Novus secured a $100mn loan – from the EBRD and commercial banks – to build 30 stores around the nation and a ‘green’ warehouse in Kyiv. Billa was established in Ukraine in 1998 by the Rewe Group. After selling nine stores, largely in eastern Ukraine, Billa now has 35 stores - in Kyiv, Kyiv region and Zhytomyr.
MHP, Ukraine’s largest poultry exporter, plans to open 350 franchise “Myasomarket” (Meatmarket) stores in Kyiv city and region ​over the next five years. MHP franchise director Dmitry Morozov tells Interfax-Ukraine that the company also plans to open today its first Döner Market shawarma shop and tomorrow its first Chef's Secrets ‘gastro studio.’
9.2.6​ Agriculture corporate news
● MHP
EBITDA of Ukraine's top poultry producer​ ​MHP​ declined 8.9% y/y to $226mn in 1H20, ​according to its September 4 filing. The company’s poultry segment EBITDA dropped 24.2% y/y to $122mn, while its grain growing segment generated $73mn, or 1.4% less y/y in 1H20. Its meat processing EBITDA was flat y/y ($9mn) in 1H20. The company’s EU-based facilities generated $28mn in EBITDA, or a 75.0% surge y/y in 1H20. MHP’s net revenue slid 8.3% y/y to $867mn in 1H20. Its bottom line turned to negative $62mn (vs. positive $171mn a year ago), which was the result of $129mn in ForEx losses in 1H20 (vs. a $73mn gain in 1H19). The company’s CapEx decreased 33.9% y/y to $41mn in 1H20, largely spent on maintenance and modernizing EU-based facilities. The company’s working capital outflow was $123mn in 1H20 vs. $86mn inflow a year ago, and its net cash flow from operating activities turned negative $24mn in 1H20 vs. positive $224mn a year ago. Its net debt-to-LTM-EBITDA ratio was 3.72x as of end-June, compared to 2.92x a year ago and 3.01x six months ago. In 2Q20, MHP’s EBITDA dropped 21.8% y/y (up 34.4% qoq) to $129mn, as poultry segment EBITDA fell 39.3% y/y (20.6% less qoq) to $54mn. The company’s meat processing EBITDA decreased 40.0% y/y (and 50.0% qoq) to $3mn in 2Q20, while EU-base facilities EBITDA jumped 33.3% y/y (and 33% qoq) to $16mn in 2Q20. MHP's September 4 filing also included the results of its winter crop harvest. Its winter wheat yield dropped 20.3% y/y to 5.1 t/ha (or 24.4% higher than the average Ukrainian yield this season) and rapeseed yield fell 10.0% y/y to 2.7 t/ha (or
76​ UKRAINE Country Report​ October 2020 ​ ​www.intellinews.com