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 ($) 18.07
Market Cap ($m) 108
Enterprise Value ($m) 107
Shares Outstanding 6,000,000
Code OVO PW

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2018 2019 2020 2021 2022
Sales ($m) 125 105 *** *** ***
EBITDA ($m) 22 (16) *** *** ***
Net Income ($m) 17 (20) *** *** ***
Net Debt ($m) (5) 6 *** *** ***
Indicator 2018 2019 2020 2021 2022
P/E 6.21 neg. *** *** ***
P/Sales 0.87 1.04 *** *** ***
EV/EBITDA 4.7 neg. *** *** ***
P/Book 0.85 0.90 *** *** ***

Latest news about Ovostar Union

Feb 02, 2024
| Food & Agriculture

Ovostar Union — Reports 2023 operating results

WSE-listed Ovostar Union, one of the largest shell egg producers in Ukraine, reported 2023 operating results. The bird flock totaled 7.7 million hens (+6.9% y-o-y) as of end-2023, including 6.4 million laying hens (+6.7% y-o-y). Shell egg production inched down by 1.0% y-o-y to 1,531 million eggs, with volume sales declining by 10.4% y-o-y to 970 million eggs. Domestic sales fell by 21% y-o-y to 626 million eggs while exports jumped by 19% y-o-y 344 million (35% of total volume sales). The volume of shell eggs processed increased by 15% y-o-y to 492 million eggs in 2023. Sales of dry egg products rose by 15% y-o-y to 2.5 kt and sales of liquid egg products grew by 20% y-o-y to 12.8 kt.
Nov 30, 2023
| Food & Agriculture

Ovostar Union — Reports strong 9M23 financials

WSE-listed Ovostar Union, one of the largest shell egg producers in Ukraine, reported 3Q23 net sales of $34m (-17% q-o-q but +2% y-o-y), EBITDA of $10m (-16% q-o-q and -53% y-o-y) and net income of $8m (-27% q-o-q and -59% y-o-y). Exports accounted for 50% of the 9M23 top line, up from 42% in 9M22.
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