Ovostar financial results for Q3 2022

21 November 2022

In Q3 one of the biggest Ukrainian eggs producers shows acceptable operating and financial performance.

In reporting quarter Ovostart decreased eggs output both q-o-q and y-o-y by 6%. Volumes of sales in natural terms decreased by approximately the same percentage, but due to prices growth revenues of the company increased by 2% y-o-y (up to $33.7M).

Net cost of eggs production in USD terms decreased which positively influenced profitability.

Operating cash flow of Ovostar in reporting period was positive as well and made $5M.

Since the beginning of the current year and till the end of September Ovostar revenues made $90.3M, by 4% lower y-o-y. Operating profit made $3.6M, operating cash flow $10.8M, so as a result the company slightly decreased its debt (as of September 30 total Ovostar debt made $10M while cash on hand was at the level of $6M).

In general financial standing of the company remains acceptable. We expect improvement of performance in Q4 mainly in a view of significant growth of domestic eggs prices in Ukraine during September-October.

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