MHP in 1H26: revenue rose 32% on Uvesa, but Ukrainian poultry EBITDA fell 71%
Kernel FY26: EBITDA rose 20% to $558mn, but net debt rose fivefold on the related-party acquisition of Enselco shortly before the port blockade
DTEK Oil & Gas in 1H26: stable production and $62mn operating cash flow after the Eurobond restructuring, but liquidity is concentrated within the group
Ballistic strike shuts down Kametstal: in our view, the controlling shareholder is unlikely to fund the October 2027 Eurobond redemption from assets outside Ukraine
MHP's European expansion: the Financial Times sets out the group's regulatory risk, and an environmental complaint reaches its development bank lender
Ukrenergo launches a liability management operation for $825mn in state-guaranteed Eurobonds
