Q1 2026 MHP SE Earnings Call Transcript
Key Points
- MHP SE (MHPSY) reported a 31% year-on-year increase in Q1 2026 revenue, reaching US$1 billion, driven by the consolidation of UESA and growth in European operations.
- The European operating segment showed strong performance, contributing $354 million in revenue and $42 million in EBITDA, highlighting the benefits of geographic diversification.
- The company successfully completed the 2026 sowing campaign, with planting progressing as expected despite challenging conditions, supporting future harvest prospects.
- MHP SE (MHPSY) is making significant progress in executing its long-term growth strategy in Europe, including the integration of Uvasa in Spain and plans to acquire Nitsiakos in Greece.
- The vegetable oil segment saw a significant increase in revenue from $81 million in Q4 2025 to $116 million in Q1 2026, reflecting recovery in sales volume and price appreciation.
- Net profit was negative $85 million, primarily due to foreign exchange losses, compared to gains in the prior year period.
- The poultry segment faced challenges with weaker prices, lower sales volumes, and higher production costs, resulting in a decline in EBITDA to $19 million.
- Operating cash flow for Q1 decreased year-on-year to $14 million, driven by lower cash earnings and negative trends in export poultry meat prices.
- The company experienced a decline in adjusted EBITDA, excluding FRS 16, to $79 million from $111 million in Q1 2025, reflecting softer poultry market conditions.
- MHP SE (MHPSY) anticipates a challenging cost and price environment for 2026, with expectations of lower results in the poultry segment compared to 2025.
Ladies and gentlemen, thank you for standing by, and I would like to welcome you to MHP's Q1 2026 Results Conference Call on the 16th June 2026.
At this time, all participants' lines are in listen-only mode. The format of the call is a presentation which will be followed by a question-and-answer session. So, without further ado, I would like to pass the line to Anastasia Sabodyuk, Director of Investor Relations. Please go ahead, madam.
Thank you, Daniel. Dear stakeholders, good day, and thank you for joining MHP's conference call covering our first quarter 2026 results. My name is Anastasia, Investor Relations Director, and I'm joined today by Viktoria Kapilushnam, CEO of MHP. Together, we will present and discover the company's operational and financial performance for the reporting period. Please note that today's discussion is based on the press release, financial statements, and investor presentation published earlier today.
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