One of the largest egg producers not only in Ukraine but globally has released its annual report. Company stated increase in revenue of 37% to the
level of USD 50.6 M, increasing volumes of sales and benefiting from rising prices of egg prices. Ovostar Union focuses only on domestic market as
its target market. Retail chains accounted for 43% of the company’s revenue. Gross profit of the company has seen increase of 124% to USD 22.5
M as production expenditures were lower due to improved production, benefiting from upgraded production lines. EBITDA rose to USD 21.7 M,
EBITDA margin totaled to 43% compared to 31% in 2010.

AgroInvest comment: we can clearly note correlation between improved company’s performance and its share performance as it has seen a
26.84% boost to the level of 118 PLN per share over the last month, greatly deviating from its 2011 average of 59.08 PLN per share. Opening price
for the company when undergoing IPO on WSE was measured at 55 PLN per share.
 

AgroInvest