Generali OFE has increased its shareholding in the holding company of Ovostar Union, a leading egg producer in Ukraine, from 9.94% to 10.93% after the deal signed on October 3, 2019.
According to a report of Ovostar posted on the Warsaw Stock Exchange (WSE) on Tuesday, before increasing its share in the share capital, Generali OFE owned 596,509 shares of Ovostar Union, after – 655,909.
The holding company of the group is Ovostar Union N.V. In the middle of June 2011, it conducted an IPO for 25% of the shares on the WSE and raised $33.2 million. The majority stake in the company is owned by Prime One Capital Limited, which is controlled by its chief executive officer Borys Belikov and Board Chairman Vitaliy Veresenko.
Ovostar Union, one of the leading egg and egg products producer in Ukraine, in January-March 2019 cut shell eggs sales by 2% year-over-year, to 335 million.
According to a company report on the Warsaw Stock Exchange (WSE) last week, export sales of shell eggs grew by 35% year-over-year and reached 186 million, which represents 56% of total number of eggs sold in Q1 2019 (40% in Q1 2018).
Average price of eggs in Q1 2019 decreased 8% year-over-year in U.S. dollar terms, to $0.069 per egg.
The volume of eggs produced in Q1 2019 was 384 million, a slight decline year-over-year. The volume of eggs processed in Q1 2019 grew by 3% year-over-year and reached 142 million.
The volume of dry egg products sold amounted to 532 tonnes, out of which 373 tonnes, or 70%, were exported.
The volume of liquid egg products sold was 3,498 tonnes, out of which export sales equaled 1,636 tonnes or 47%.
Average price of dry egg products decreased year-over-year by 8% to $4.63 per kg; average price of liquid egg products fell by 2%, to $1.46 per kg.
As of March 31, 2019 the company’s total flock equaled 7.86 million hens, including 6.67 laying hens.
“In the first quarter of 2019 unfavorable price dynamics was observed on the local market. However, the company managed to balance the situation by increasing its exports. In general, we are satisfied with the results achieved in the reporting period,” Ovostar CEO Borys Bielikov said.
Production of milk in Ukraine in January-March 2018 (excluding the temporarily occupied territory of Crimea and Sevastopol, part of the ATO zone) decreased by 1% compared to the same period in 2017, to 1.946 million tonnes. The State Statistics Service said egg production in the first quarter of 2018 grew by 2.3%, year-over-year, to 5.511 billion units.
Production of meat (live weight) in the first three months of 2018 fell by 0.3%, to 790,000 tonnes.
As reported, with reference to statistics, milk production in Ukraine in 2017 decreased by 0.5% compared to 2016, to 10.329 million tonnes, meat (in live weight) by 0.4%, to 3.259 million tonnes. Production of eggs in 2017 rose by 3.2%, to 15.578 billion units.
EGG, MEAT, MILK, PRODUCTION, Q1, STATISTICS
