Ovostar Union posted USD 20 mln of net loss in 2019
Ovostar Union reported a net loss of USD 20 mln in 2019, compared to a net profit of USD 17.5 mln in 2018.
In 2019, total revenues fell by 17% as compared to the previous year and amounted to USD 104.7 mln (2018: USD 125.0 mln). Gross loss totalled to USD 6.3 mln (gross profit in 2018: USD 30.7 mln) as a result of the negative revaluation of the fair value of biological assets in the amount of USD 23.3 mln. Operating loss amounted to USD 19.4 mln compared to USD 19.1 mln of operating profit in 2018.
Ovostar Union's net loss per share in 2019 was USD 3.34 (a net profit of USD 2.91 in 2018).
In 2019, EBITDA dropped 241% to USD (15.5) mln (2018: USD 21.9 mln).
Previously reported that The Ministry of Agriculture and Rural Development of Israel authorized the import of eggs from Ukraine, including products of the company Ovostar Union.