In January-March 2024, Ovostar Union, a vertically integrated holding company, one of the leading producers of eggs and egg products in Ukraine, increased its total number of hens by 2.7% to 7.31 million, while reducing the number of laying hens by 4.1% to 6.12 million.
According to the group’s report published on the Warsaw Stock Exchange website on Friday, the volume of egg production in the first quarter of 2024 amounted to 331 million eggs, which is 9% less than in the same period of 2023. Accordingly, sales in the egg segment amounted to 211 million units, which is 12.4% less than last year.
Export sales of shell eggs in January-March 2024 also decreased by 22.9% and amounted to 81 million units, which was 38% of the total number of eggs sold in this period in 2024. A year earlier, this figure was 44%, the report says.
At the same time, in the first quarter of 2024, the agricultural holding increased egg processing by 42% to 132 million eggs, while in 2023 this figure was 92 million. Ovostar produced 571 tons of dry egg products and 3.41 thousand tons of liquid egg products, while last year the processing amounted to 406 tons and 3.07 thousand tons, respectively.
Sales of dry egg products amounted to 629 tons, up 18.5% year-on-year, of which 478 tons (76%) were exported. In the first quarter of 2023, 354 tons (67%) of dry egg products were exported to foreign markets.
Sales of liquid egg products amounted to 3.4 thousand tons, up 11% year-on-year, of which 1.14 thousand tons (34%) were exported. A year earlier, 1.29 thousand tons (42%) of liquid egg products were exported.
“In the first quarter of 2023, the volume of egg production decreased due to a slight decrease in the number of laying hens. Given the downward trend in egg prices, the company increased the volume of egg processing, which led to a steady increase in egg production. In the current situation, the management is satisfied with the operating results achieved in the first three months of the year,” said Boris Belikov, CEO of Ovostar Union.
Ovostar Union, a vertically integrated holding company, is one of the leading producers of eggs and egg products in Ukraine. “In the first nine months of 2023, Ovostar earned $29.08 million in net profit, up 12.2 times year-on-year. Its revenue for the nine months increased by 36.3% to $123.06 million, mainly due to higher prices for its products.
