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 ($) 10.29
Market Cap ($m) 62
Enterprise Value ($m) 60
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 3.54 neg. *** *** ***
P/Sales 0.49 0.59 *** *** ***
EV/EBITDA 2.6 neg. *** *** ***
P/Book 0.49 0.51 *** *** ***

Latest news about Ovostar Union

May 22, 2023
| Food & Agriculture

Ovostar Union — Reports 1Q23 financial results

WSE-listed Ovostar Union, a leading shell egg producer in Ukraine, reported 1Q23 net sales of $47m (+71% y-o-y), EBITDA of $9m (vs. $15m EBITDA loss in 1Q22) and net income of $9m (vs. $16m net loss in 1Q22). Exports made up 51% of the top line (vs. 21% in 1Q21). End-1Q23 total debt stood at $8m, down from $11m at end-2022, while cash increased to $29m from $12m, respectively, yielding a net cash position of $21m (vs. $1m at end-2022).
May 02, 2023
| Food & Agriculture

Ovostar Union — Reports 2022 financial results and 1Q23 operating update

WSE-listed Ovostar Union, one of the largest shell egg producers in Ukraine, reported 2022 net sales of $136m (+1.7% y-o-y), EBITDA of $11m (+96%), and net income of $6m (+3.7x). Exports accounted for 40% of the top line (vs. 28% in 2021). End-2022 total debt stood at $10.9m, down from $12.9m at end-2021, with cash up to $12.2m $2.4m, respectively, yielding net cash of $1.3m (vs. net debt of $10.4m at end-2021).
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