Page 75 - UKRRptFeb19

and Lviv, in 2009, but later abandoned them due to political and economic unrest.
Danish furniture and household merchandise company JYSK will expand its chain of stores in Ukraine to 48 outlets , the country's unit of JYSK said in a statement on December 18. The store with an area of 990 square meters will be opened in the City Center shopping center in Odesa on December 20. The facility will operate in the new 3.0 format for the JYSK network: it provides more space, light, an expanded assortment and updated cash desk zones, according to Interfax news agency. "The 3.0 format was introduced in September. And now there are two such stores in Odesa. We took a good pace: 11 JYSK stores were opened in 2018, four of which are in the new format. Next year we will continue to dynamically expand the network in different regions of Ukraine," according to executive director of JYSK in Ukraine Yevhen Ivanytsia. The JYSK network began to develop in Ukraine in 2004. As of November 29, 2018, the network had 47 stores in 20 cities, as well as an online store. Over the past two years, foreign retailers have expanded their presence in Ukraine.
9.2.6 Agriculture corporate news
Ukrainian farmer IMC reported on December 4 it has completed its harvesting campaign of corn, with an average net yield of 11.1 t/ha in 2018 , or 22.0% y/y growth, of Concorde Capital said in a note. The company harvested 762,000 tons of corn (a 25% y/y increase) from an area of 68,400 ha (2.1% more y/y). Corn is IMC’s core crop, accounting for 58% of the company’s total harvesting area in the 2018 season. “The company’s corn yield has always been historically stronger than the average for Ukraine. favourable weather conditions pushed IMC’s corn yield to a record in 2018. The company’s corn yield was 44% higher than Ukraine’s average in 2018 (it was 67% higher in 2017). That result will allow the company to further improve its bottom line in 2018 and early 2019. So we remain bullish about IMC stock,” Andriy Perederey of Concorde Capital said in a note.
Moody’s upgrades MHP rating to B3/Stable . Moody's Investors Service upgraded the corporate family ratings of MHP (MHPSA) to B3 with a stable outlook, the agency reported on Dec. 27. The rating is one notch above Ukraine’s sovereign. The agency noted that MHP’s business profile and financial metrics are strong for a B3 rating, but the company is exposed to an overall risky environment in Ukraine, where its key assets are located. On the other hand, the company’s strong export revenue partially offsets these risks.
Ukrainian chicken farmer MHP poultry sales jump 27% y/y in the fourth quarter of 2018, 11% in 2018 Ukraine’s leading poultry producer MHP reported its the fourth quarter of 2018 poultry sales jumped 26.8% y/y to 144.2 kt (though a 10.3% q/q drop), according to its January 24 trading update. The company produced 159.4 kt of poultry in the fourth quarter of 2018, a 12.6% y/y increase (5.8% q/q growth). Its average poultry price was $1.45/kg in the fourth quarter of 2018, which is 3.9% lower y/y and 1.7% lower compared to the third quarter of 2018. In 2018, the company sold 593.5 kt of poultry (an 11.4% y/y increase) and exported 286.8 kt, or 29.8% more y/y. Its export share in sales volumes rose to 48.3% from 41.5% a year ago. The average selling price in UAHterms rose 11.9% y/y to UAH39.9/kg and improved 9.3% y/y in $terms to $1.46/kg in 2018. MHP also reported its final harvest results as crop
75 UKRAINE Country Report February 2019 www.intellinews.com