25 April 2018
Operations Update for the three months ended 31 March 2018
Ovostar Union N.V. (WSE: OVO) (hereinafter the “Company”), a vertically integrated holding company, one of the leading producers of eggs and egg products in Ukraine announces its operating results for the first quarter ended 31 March 2018.
As at 31 March 2018 both total and laying flock remained unchanged in year-on-year terms and equalled to 7.7 mln and 6.5 mln hens respectively.
Over the reporting period egg production did not change significantly and amounted to 386 mln eggs. Sales volume of shell eggs increased by 24% to 342 mln eggs partially through the egg trading, which totalled to 117 mln eggs. The volume of shell eggs exported went up by 68% to 138 mln eggs and resulted in the export share of 40%. Average selling price of shell eggs increased by 47% and amounted to 2.055 UAH/egg.
During the 1st quarter of 2018 the volume of shell eggs processed increased by 40% year-on-year to 139 mln eggs. Sales volume of dry egg products increased by 7% to 594 tons, out of which the export volume went up by 13% to 379 tons and resulted in the export share of 64%. Sales volume of liquid egg products grew by 51% to 3 146 tons, out of which the export volume nearly tripled and reached 1 472 tones and resulted in the export share of 47%. Average selling price of dry egg products increased by 17% year-on-year to 137.76 UAH/kg; average selling price of liquid egg products increased by 26% to 40.42 UAH/kg.
The Company’s CEO Mr. Borys Bielikov commented:
“Favorable market conditions on local and external markets together with the undergoing strategy of organic growth and export markets development gives us confidence in obtaining sustainable financial results in 2018”
Note: All prices in this press release are indicated net of VAT