Ovostar Union egg production intensified in Q1 2021
One of the largest egg and egg products producer in Ukraine, the company Ovostar Union, reported a 5% YoY increase in egg output to 411 mln in Q1 2020 (Q1 2020: 392 mln).
The company's export sales of shell eggs totaled 64 mln, 21% lower YoY (Q1 2020: 81 mln), which represents 23% of the total number of eggs sold in Q1 2021 (Q1 2020: 34%).
The average price of eggs in Q1 2021 increased by 47% YoY in USD terms to 0.087 USD/egg (Q1 2020: 0.059 USD/egg).
The volume of eggs processed in Q1 2021 fell by 26% YoY and was 112 mln (Q1 2020: 152 mln). The company produced 653 t of dry egg products and 2 922 t of liquid egg products (Q1 2020: 837 t and 3 783 t, respectively).
Dry egg products volume sold amounted to 736 t (Q1 2020: 909 t), out of which 462 t, or 63%, were exported (Q1 2020: 729 t, 80%). The volume of liquid egg products sold was 2 927 t (Q1 2020: 3 616 t), out of which export sales equaled 796 t or 27% (Q1 2020: 1 656 t, 46%).
«In the first quarter of 2021, the company was focused on operational efficiency and increasing margins. The sales structure was adjusted in accord with the market situation in Ukraine and abroad, which explains the shift from export to local sales. We can see the signs of the market recovery after the sharp downturn of the previous two years, which is also reflected in the Company’s performance in the reporting period,” Ovostar Union CEO Borys Bielikov comments.
Previously reported that the market cap of Ovostar Union for the period April 15-21 stood at USD 122 mln having increased by 6.9%.