Ovostar Union

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22 October 2019

Operations Update for the nine months ended 30 September 2019

Ovostar Union Public Company Limited (WSE: OVO) (further referred to as “Company”), a vertically integrated holding company, one of the leading egg and egg products producer in Ukraine, announces its operational results for the nine months ended 30 September 2019.

As of 30 September 2019 total flock of the Company was 7.9 mln heads demonstrating 8% increase Y-o-Y (2018: 7.3 mln heads). The laying flock grew by 3% Y-o-Y and reached 6.7 mln heads (2018: 6.5 mln heads).

Over the nine months of 2019 1 191 mln eggs were produced (2018: 1 202 mln eggs). Sales volume of shell eggs totaled to 888 mln (2018: 1 056 mln eggs). Lower sales volume is accounted for by reduction of trading activities in the reporting period. Export sales equaled 440 mln eggs or 50% of the total sales volume (2018: 443 mln eggs and 42% respectively).

Average selling price of shell eggs fell by 9% Y-o-Y to 0.061 USD/egg (2018: 0.067 USD/egg).

In the reporting period 432 mln eggs were processed (+8% Y-o-Y). The output of dry and liquid egg products was 2 186 tons (-3% Y-o-Y) and 10 535 tons (+17% Y-o-Y) respectively.

Sales volume of dry egg products equaled 1 736 tons (-20% Y-o-Y), out of which 1 235 tons, or 71%, were exported (2018: 1 572 tons and 73% respectively).

Sales volume of liquid egg products equaled 10 453 tons (+18% Y-o-Y), out of which 5 069 tons, or 48%, were exported (2018: 8 867 tons and 49% respectively).

Average selling price of dry egg products decreased by 10% Y-o-Y to 4.39 USD/kg (2018: 4.86 USD/kg); average selling price of liquid egg products fell by 3% Y-o-Y to 1.41 USD/kg (2018: 1.46 USD/kg).

The Company’s CEO Mr. Borys Bielikov commented:

«Taking into account the market situation and macroeconomic factors that have been unfavorable for exporters, the Management finds the Company’s operating result for the 9 months of 2019 satisfactory»  

 

Note: All prices in this press release are indicated net of VAT


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