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 ($) 20.52
Market Cap ($m) 123
Enterprise Value ($m) 130
Shares Outstanding 6,000,000
Code OVO PW

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2016 2017 2018 2019E 2020F
Sales ($m) 78 99 *** *** ***
EBITDA ($m) 24 27 *** *** ***
Net Income ($m) 23 23 *** *** ***
Net Debt ($m) 3 (1) *** *** ***
Indicator 2016 2017 2018 2019E 2020F
P/E 5.46 5.37 *** *** ***
P/Sales 1.58 1.25 *** *** ***
EV/EBITDA 5.2 4.6 *** *** ***
P/Book 1.39 1.15 *** *** ***

Company Peers

Latest news about Ovostar Union

Nov 15, 2019
| Eggs

Ovostar Union — 3Q19 results weak

WSE-listed Ovostar Union, one of the largest shell egg producers in Ukraine, reported 3Q19 sales of $24m (-24% y-o-y), EBITDA of almost zero (vs. $3.5m in 3Q18), and net loss of $1.1m (vs. $3.4m net income in 3Q18). Export sales accounted for 50% of the 9M19 top line (vs. 45% in 9M18).
Oct 22, 2019
| Eggs

Ovostar Union — Reports expectedly weaker 3Q19 operating results

WSE-listed Ovostar Union, one of the largest shell egg producers in Ukraine, reported 3Q19 operating results. Shell egg production dipped 1% y-o-y to 409 million eggs, with volume sales down 26% y-o-y to 278 million eggs on downsized trading operations. Egg exports fell 30% y-o-y to 105 million pieces (38% of total egg sales, -2pp y-o-y), while local egg sales dropped 24% y-o-y to 173 million. The average sale price fell 10% y-o-y to $0.06/egg.
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