Ovostar Union export sales of shell eggs halved in 1H 2020

Ovostar Union export sales of shell eggs in 1H 2020 totalled 169 mln (1H 2019: 335 mln), which represents 34% of the total number of eggs sold in 1H 2020 (1H 2019: 55%).

The company's report reads that the volume of eggs produced in 1H 2020 was 793 mln demonstrating 1% increase YoY (1H 2019: 782
mln). In the reporting period, the sales volume in the egg segment totalled 490 mln (1H 2019: 610 mln, including 125 mln eggs in trading operations).

As of 30 June 2020, the company’s total flock equalled 8.24 mln hens, including 6.91 laying hens (30 June 2019: 7.56 and 6.51 mln hens, respectively).

The volume of eggs processed in 1H 2020 fell by 1% YoY and reached 290 mln (1H 2019: 293 mln).

The volume of dry egg products sold amounted to 1.66 thou. t (H1 2019: 1.03 thou. t), of which 1.22 thou. t or 73% were exported (1H 2019: 714 t, 69%). The volume of liquid egg products sold was 6.4 thou. t (1H 2019: 7 thou. t), of which export sales equalled 2.47 thou. t or 39% (1H 2019: 3.48 thou. t, 49%).

"I would like to point out that in the first half of 2020 the company has managed to minimize the negative impact of COVID-19 pandemic on its operations. We have maintained our production and sales volume at the level of the previous year. However, the reduced demand from our B2B clients has resulted in a sales decrease in the egg products segment. Nonetheless, the management finds the operational results for the six months of 2020 satisfactory," commented Borys Bielikov, CEO of Ovostar Union.

Previously reported that Ovostar Union's capitalization for the period of July 16-23 decreased by 3% to USD 102 mln.