Ovostar: net profit down 30% in H1 2020
02 September 2020
Ovostar Union, a vertically integrated Ukrainian egg producer, posted net profit of $ 2.44 million in the first half of 2020, a 33% decrease as compared to the same period last year. The company’s total revenue for the six months of 2020 was $44.6 million, a 17% decline as compared to H1 2019 ($ 53.9 million). In particular, 65% of revenue accounted for shell egg segment ($ 28.8 million), while egg products segment made up 35% of revenue ($15.8 million). Gross profit totaled $7.7 million in H12020 ($7.6 million in H1 2019). EBITDA fell 18% to $4.8 million within the same period.