Ovostar Union, a vertically integrated holding company, one of the leading producers of eggs and egg products in Ukraine, increased its livestock to 7.7 million heads in 2023, including 6.4 million laying hens, compared to 7.2 million and 6.0 million a year earlier.
“In 2023, the company focused on the gradual restoration of the livestock, which resulted in a 7% increase in the number of chickens. Efforts have also been made to restructure the product portfolio and sales channels to achieve greater efficiency,” Ovostar CEO Boris Belikov said in a stock exchange announcement.
He noted that, given the fairly successful solution of these problems, the management is satisfied with the group’s performance.
It is indicated that the volume of egg production in 2023 decreased by 1% to 1 531 million, and sales in the shell egg segment decreased by 10% to 970 million.
At the same time, Ovostar indicated that the volume of egg exports increased by 18.6% to 344 million units, accounting for 35% of total sales in the segment, compared to 27% in 2022.
According to the report, in 2023, the volume of egg processing amounted to 492 million eggs, which is 15% higher than the previous year. At the same time, the production of dry egg products decreased by 1% to 2.512 thousand tons, while the production of liquid egg products increased by 20% to 12.998 thousand tons.
It is specified that the volume of sales of dry egg products increased by 15% to 2,468 thousand tons, including exports – by 17.2% to 1,695 thousand tons, which increased its share to 69% from 68%.
Sales of liquid egg products in 2023 increased by 20% compared to 2022 and amounted to 12.828 thousand tons, including exports – by 19.8% to 5.17 thousand tons, which maintained its share at 40%.
As reported, Ovostar earned $29.08 million in net profit in 9M2023, which is 12.2 times better than in the same period of 2022. Its revenue for the first nine months increased by 36.3% to $123.06 million, mainly due to higher prices for its products.
