According to the company press release, Ovostar Union increased net profits up to UAH 400 M (USD 49.8 M) in 2011, 36% more than in 2010.
Holding sold 439 million eggs, up by 25% increase compared to the level of the previous year measured at 351 M eggs. The average selling price of eggs was UAH 0.62 per egg (USD 0.07) (excluding VAT) in 2011, while in 2010 it was UAH 0.52 (USD 0.06).

The company exported 79 million eggs in 2011, a 74% increase over the previous year’s total of 45 million eggs. During 2011 the company has
increased capacity on the content of laying hens by 28%, from 2.1 million to 2.7 million bird places. On December 31, 2011, the total population of
birds was about 3.1 million heads (2.4 million heads in 2010), out of which 2.3 million head were laying hens (1.8 million heads in 2010).

The company sold 1,338 tons of dry and 4,072 tons of liquid egg products in 2011 (1107 and 3285 tons in 2010, respectively). The average selling
price of dried eggs products has increased by 14% to UAH 40.32 (USD 5.02) per kg, while the price of liquid products increased by 7% to UAH
13.24 (USD 1.65) per kg (excluding VAT). The company exported 217 tons of dried egg products in 2011 (220 tons in 2010).

AgroInvest comment: Constant improvement and growth of Ovostar Union is also very well reflected through the growth tendency of its share
price. Ovostar is one of the few companies included in UAIndex that have indicated growth in annual terms. Company has also reached its all-time-
high PPS in the beginning of 2012. Investors still see that the company is undervalued given its moderate growth in capitalization over the last
month.


 

AgroInvest