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 operational results for the first quarter ended 31 March 2015.

As at 31 March 2015 the Company’s total flock increased by 16% year-on-year to 5.6 mln hens. Furthermore, the laying hens flock increased by 13% year-on-year to 4.5 mln hens.

Over the reporting period, egg production increased by 21% year-on-year to 277 mln eggs. Shell egg sales volume increased by 44% to 208 mln eggs. At the same time, volume of eggs exported increased 3 times year-on-year from 15 to 44 mln eggs, representing a 21% share of export in total volume of shell eggs sold. Average egg selling price in the 1st quarter of 2015 increased by 62% to 1.19* UAH/piece compared to 0.73 UAH/piece in the 1st quarter of 2014.

In the 1st quarter of 2015 the volume of shell eggs processed increased by 15% year-on-year to 79 mln eggs. Sales volume of dry egg products increased by 9% year-on year to 461 tons, whereas the share of dry egg products exported reached 53% or 245 tons. Sales volumes of liquid egg products decreased by 8% year-on-year to 1 371 tons as a result of increased sales volumes of dry egg products and shell eggs to export destinations. Average selling price of dry egg products increased 2 times to 98.34* UAH/kg while average selling price of liquid egg products increased by 50% year-on-year to 23.88* UAH/kg.

The Company CEO Borys Bielikov has noted:

In the first quarter of this year the Company has been operating in the context of a serious devaluation of the national currency**. In this connection, additional volumes of our produce have been directed to export to increase foreign currency denominated revenue and secure stable results. We plan to maintain this trend in the future.”

*All prices stated in this press-release are indicated net of VAT (20%)

**Average UAH/USD exchange rate for the period (NBU):

1 quarter 2015: 21.12

1 quarter 2014: 8.86

4 quarter 2014: 14.43