22 October 2015
OPERATIONAL RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2015
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 operational results for the nine months ended 30 September 2015.
As at 30 September 2015 the Company’s total flock increased by 15% y-o-y to 6.1 million hens. The laying hens flock increased by 12% y-o-y to 4.9 million hens.
For 9 months of 2015, egg production increased by 20% y-o-y to 888 million eggs. Shell eggs sales volume increased by 33% to 656 million eggs. With this, over the reporting period the volume of eggs exported increased 2.3 times y-o-y, from 74 to 172 million eggs, representing a 26% share of export in total volume of shell eggs sold. Average egg selling price during the first three quarters of 2015 increased by 65% to reach 1.25* UAH/egg, up from 0.76* UAH/egg the previous year.
In the nine-month period of 2015, the volume of eggs processed increased by 8% y-o-y to 250 million units. As the Company continues to develop its export markets, the sales volume of dry egg products increased by 14% y-o-y to 1 355 tons (the share of dry egg products exported out of total sales volume amounted to 51%), while the volume of liquid egg products sold declined by 5% y-o-y to 4 280 tons. The average selling price of dry egg products increased 1.8 times y-o-y to 103.20* UAH/kg; the average selling price of liquid egg products increased by 49% y-o-y to 25.18* UAH/kg.
Investment program update
The investment program is continuing on the premises of Stavysche production complex. A fifth laying hens house has been completed in September 2015.
The Company CEO Mr. Borys Bielikov has commented:
“Following the strategy of organic growth, the Company is steadily increasing its production capacities. I am pleased to note that the Company has managed to more than double the volume of products exported. Consistently high demand on our products ensures the reasonability of future production growth”.
*All prices in this press-release are indicated net of VAT (20%)