High Egg Prices Boost Ovostar's Results24 January 2014
UKRAINE - Ovostar Union, a vertically integrated holding company, one of the leading producers of eggs and egg products in Ukraine, announced its operational results for the year ended 31 December 2013.
High prices for eggs in the second half of the year allowed the Company to outperform the original revenue forecast. In 2013 unaudited revenue increased to UAH652 mln from UAH 482mln in 2012.
As at 31 December 2013 the total flock of the Company increased by 19 per cent year-on-year to 5.0 mln hens from 4.2 mln hens as at 31 December 2012. Laying hens flock increased by 24 per cent year-on-year to 3.9 mln hens (2012: 3.1 mln laying hens).
Supported by growth in poultry flock, egg production over the reporting period increased by 24 per cent year-on-year to 893 mln eggs (2012: 719 mln eggs). The volume of eggs sold increased by 32 per cent to 585 mln from 445 mln in the same period previous year. Due to strong demand for eggs in the second half of the year, annual average egg selling price increased by 8 per cent to 0.715 UAH/piece* compared to 0.662 UAH/piece in 2012.
Over 2013 the Company processed 266 mln eggs (2012: 254 mln eggs). As a result, sales volumes of liquid and dry egg products increased by 35 per cent year-on-year to 6,803 tons and by 8 per cent year-on-year to 1,508 tons (2012: 5,032 tons and 1,398 tons, respectively).
Average selling price of liquid egg products increased by 3 per cent to 15.83 UAH/kg while average selling price of dry egg products decreased by 4 per cent year-on-year to 45.63 UAH/kg (2012: liquid egg products: 15.40 UAH/kg, dry egg products: 47.35 UAH/kg).
Production capacity expansion program on the territory of Vasylkiv laying hens site has been successfully completed this month.
*All prices stated in this press-release are indicated net of VAT (20 per cent)
NBU UAH/USD exchange rate as at 31.12.2013 = 7.9930