Page 111 - UKRRptDec23

soybean oil, and 9,000 tons of pelleted hulls annually. Before the war, more than 80% of the company’s products were supplied to the EU and Middle and Far Eastern countries. In the fall of 2021, the company predicted that constructing an additional line would double the EBITDA indicator in the soybean segment and increase sales.
● MHP
Ukraine's largest poultry producer and exporter, the MHP agricultural holding, is back in profit after a surge in exports, UBN reported on November 20.
For the first nine months of the year, MHP reported a net profit of $122mn, a notable turnaround from the $269mn loss incurred during the same period in 2022. Furthermore, the company's turnover for this period increased by 22%, totalling $2.3bn, compared to the previous year's figure of $1.9bn.
The export segment played a pivotal role in MHP's success, with export turnover experiencing a substantial 25% growth, reaching $1.38bn, accounting for 60% of the total turnover.
MHP attributed the turnaround to various factors, including the recovery in export volumes, steady demand, a stable price environment, and effective measures to minimise production disruptions.
However, this year’s second-half results may face problems due to the ongoing war, the company said. Ukraine enjoyed a 6% increase in poultry production volume over the first nine months of this year, accompanied by a remarkable 21% growth in chicken exports.
9.2.7 TMT corporate news
During the second year of the war, private delivery company Nova Poshta invested ₴2.4B in its development. Nova Poshta delivered 290 million parcels and goods in nine months, 10% more than in the pre-war year 2021, as stated in company reports. Income in 2023 amounts to ₴25.75B, net profit is ₴3.21B.
Nova Poshta opens its second branch in Romania Nova Poshta LLC, the leader of express delivery in Ukraine, has opened a second Nova Post office in the city of Brasov, the company's press service reported on Tuesday.
A Ukrainian online programming school has attracted investment from Horizon Capital and plans to expand its project to foreign markets. Online programming school GoIT has attracted investment from Growth Fund IV, a new fund from Horizon Capital. The exact amount and details of the deal remain confidential, but it is reported that it could be around $10-15M, and include a minority stake of 25%. Vasyl Tofan, senior partner of Horizon Capital, emphasized that their fund has already raised $300M, and standard investments range from $10M to $30M for minority stakes of 20-30%. The fund plans to close on at least three investments, possibly more, by the end of 2023. This is the fund's second investment; three more are in the final phase. GoIT intends to use the proceeds for global expansion and integration of AI products. Roman Korytskyi, the founder of GoIT, noted that expansion is planned in markets where Poland, Romania, Colombia, and Southeast Asia
111 UKRAINE Country Report December 2023 www.intellinews.com