Ovostar Union

Ovostar Union is a leading shell egg producer in Ukraine with an 18% market share in volume terms in 2016 (+6.0pp y-o-y). The company produced 1,479 million shell eggs last year (+24% y-o-y). Ovostar accounts for 97% of domestic production of liquid egg products and has a 23% share of dry egg products.

Shareholders Structure

SUMMARY

Market Price ($) 18.19
Market Cap ($m) 109
Enterprise Value ($m) 121
Shares Outstanding 6,000,000
Code OVO PW

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2016 2017 2018 2019E 2020E
Sales ($m) 78 99 *** *** ***
EBITDA ($m) 24 27 *** *** ***
Net Income ($m) 23 23 *** *** ***
Net Debt ($m) 3 (1) *** *** ***
Indicator 2016 2017 2018 2019E 2020E
P/E 4.84 4.76 *** *** ***
P/Sales 1.40 1.11 *** *** ***
EV/EBITDA 4.7 4.1 *** *** ***
P/Book 1.23 1.02 *** *** ***

Company Peers

Latest news about Ovostar Union

Jun 05, 2020
| Eggs

Ovostar Union — Sets AGM for Jun. 26, proposes no dividend

WSE-listed Ovostar Union, one of the largest shell egg producers in Ukraine, published the agenda of its upcoming AGM set for Jun. 26, proposing no dividend payout. The meeting will instead decide on approving the company’s 2019 financial statements, re-appointing a non-executive director and setting directors’ remuneration.
May 15, 2020
| Eggs

Ovostar Union — Reports weaker 1Q20 financial results

WSE-listed Ovostar Union, one of the largest shell egg producers in Ukraine, reported 1Q20 net sales of $23m (-25% y-o-y), EBITDA of $2.1m (-61%) and net income of $1.2m (‑74%), for EBITDA and net margins of 9.1% (-8.3pp y-o-y) and 5.0% (-9.4pp y-o-y). Exports accounted for 46% of the top line (vs. 58% in 1Q19).
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