May 8, 2024

In the reporting quarter, Ovostar slightly worsened the main production and operating performance, the situation on the Ukrainian egg market is far from last year's.

Ovostar, one of the largest Ukrainian egg producers, has published its operating report for the first quarter of 2024.

According to the report data, the company's total flock decreased slightly compared to the second half of 2023 and amounted to 7.3 million heads (a year ago - 7.12 million heads, the peak of Ovostar's flock was reached at the end of 2021 - 8.4 million heads, then after beginning of the full-scale invasion, it had decreased to 6.3 million heads).

In the reporting quarter, Ovostar produced 331 million eggs, 14% less than in the previous quarter and 9% less than in the first quarter of 2023.

As for the sale of eggs, in the reporting quarter the company slightly increased the export of shell eggs compared to the previous two quarters (at the same time, exports were 23% lower than in the corresponding period of 2023), but sales volume on the domestic market was the lowest in recent years.

In general, the market situation for the company in the reporting period was much worse than a year ago. According to official statistics, egg prices in Ukraine during January-March 2024 decreased by almost 25% compared to last year, and average export prices (basing on customs data) - by 30%.

The volume of eggs processing by Ovostar in the first quarter of 2024 was 132 million pieces, compared to 138 million pieces in the previous month and 92 million pieces in the first quarter of 2024.

In the reporting quarter, Ovostar processed the same number of eggs as it sold shell eggs on the domestic Ukrainian market.

According to our expectations, the financial performance of the company at the end of the reporting quarter is to worsen compared to last year.