Ovostar Union net profit down 2.8x in 6M 2019

Ovostar Union reports a net profit for 6M 2019 at USD 3.7 mln demonstrating a 65% decrease as compared to the 6M 2018 (USD 10.4 mln).

In the reporting period, the company's revenue decreased by 15% to USD 53.9 mln (6M 2018: USD 63.46 mln), gross profit also declined by 57% to USD 7.63 mln (6M 2018: USD 17.67 mln). Operating profit dropped by 66% to USD 4.24 mln (6M 2018: USD 12.43 mln).

EBITDA fell by 57% Y-o-Y to USD 5.9 mln (6M 2018: USD 13.8 mln).

Ovostar Union export sales increased by 10% as compared to the 6 months of the previous year and equaled to 335 mln eggs making up 55% of the total volume of eggs sold (2018: 294 mln eggs and 43% respectively).