MHP (MHPC) 2018年年度报告「LSE」.pdf

1、A LEADING INTERNATIONAL AGRO-INDUSTRIAL COMPANYANNUAL REPORT AND ACCOUNTS 20184 Performance Highlights 6 Company Overview 10 Competitive Strengths18 Chairmans Statement 22 CEOs Statement 26 Business Model29 Poultry and Related Operations Segment37 Grain Growing Segment40 Other Agricultural Segment44

2、 Key Performance Indicators47 Financial Policies49 Financial Review 58 Risk Management71 Corporate Responsibility 76 Corporate Governance Overview81 Board:Composition&Performance89 Nominations and Remuneration Committee Report 91 Audit Committee Report 95 Management Report99 Stakeholder Engagement 1

3、02 Statement of The Board of Directors103 Independent Auditors Report 110 Consolidated Financial Statements115 NotesSTRATEGIC REPORTBUSINESS REVIEWGOVERNANCEFINANCIAL STATEMENTSSHAREHOLDER INFORMATION169 Financial Calendar169 Key Contacts&Advisors170 Glossary of Terms37516825100STRATEGIC REPORT4 Per

4、formance Highlights 6 Company Overview 10 Competitive Strengths18 Chairmans Statement 22 CEOs Statement PERFORMANCE HIGHLIGHTSFINANCIAL HIGHLIGHTSRevenue (+21%y/y;2017:US$1,288 million)US$1,556millionAdjusted EBITDA(-2%y/y;2017:US$459 million)US$450million8-year Eurobond issuance with a coupon of 6.

5、95%US$550millionNet profit(-37%y/y;2017:US$204 million)US$128millionEarnings per share(-38%y/y;2017:US$1.90)US$1.17Dividend per share(2017:US$0.7492)US$0.7492Gross profit(+6%y/y;2017:US$396 million)US$420millionExport revenue(+26%y/y;2017:US$732 million)US$924millionExport revenue(2017:57%)59%of tot

6、al revenueMHP DEMONSTRATED ANOTHER YEAR OF FIRM PROGRESSSTRATEGIC REPORTPERFORMANCE HIGHLIGHTS4ANNUAL REPORT 2018OPERATIONAL AND STRATEGIC HIGHLIGHTSthree rearing sites(brigades)and a slaughterhouse launchedSignificant progress on construction ofPHASE 2 OF THE VINNYTSIA COMPLEXat the Vinnytsia compl