Ovostar Union N.V. (WSE: OVO) (hereinafter the “Group”), a vertically integrated holding company, one of the leading producers of eggs and egg products in Ukraine, announces its financial results for the three months ended 31 March 2013.
Revenue, gross profit and gross margin
In 3M 2013 the Group’s revenue reached USD 17.7 mln. Gross profit for the period amounted USD 7.1 mln while gross margin reached 40%, despite higher cost of sales due to increase in poultry fodder cost by one-third in 3M 2013 compared to the same period last year.
Operating profit, EBITDA and cash flows from operating activities
In 3M 2013 the Group’s operating profit reached USD 5.2 mln, while EBITDA amounted to USD 6.5 mln. One of the factors affecting operating profit was increased selling costs, driven among other things by marketing expenses connected to rebranding of YasensvitTM. Net cash flows from operating activities increased to USD 5.0 mln during the three months of 2013.
In 3M 2013 net profit reached USD 5.1 mln.
The Group’s CEO Borys Bielikov noted:
“The company management is overall content with financial results achieved by Ovostar Union in the first quarter of this year, despite a sharp increase in fodder cost compared to the beginning of the previous year. We forecast stable operational and financial results for the whole year 2013 in line with those published previously.”
Please be informed that there will be a conference call on Ovostar Union N.V. results for the first quarter of 2013.
Date & Time: Wednesday, 15 May, 2013 (17:00 Kyiv; 16:00 Warsaw; 15:00 London).
Poland: +48 (0) 22 295 3504
Russia: +7 495 213 0988
Germany: +49 (0) 69 5060 9515
UK: +44 (0) 20 3481 0132
US: +1 719 325 2630
Passcode: 440 369 2323