In January-March 2023, Kyiv-based Ovostar Union, a large Ukrainian producer of egg products, received a net profit of USD 8.977 million against a loss of USD 16.443 million for the same period in 2022.
This is stated in the message of the company, Ukrainian News Agency reports.
In the 1st quarter, the company increased revenue by 71%, or UAH 19.596 million, to USD 47.304 million compared to the same period last year.
In 2022, compared to 2021, Ovostar Union increased its profit 3.8 times to USD 6.1 million, increasing its income by 2% to USD 135.6 million.
Also in 2022, Ovostar increased its Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 96% to USD 11.1 million.
As Ukrainian News Agency earlier reported, in 2022, Ovostar Union reduced egg production by 8.6%, or 145 million pieces, to 1.546 billion pieces compared to 2021.
The Ovostar Union group of companies consists of a number of enterprises, including the Ukraina and Stavyschanska poultry farms and the Ovostar egg product plant.
The group produces and sells eggs under the Yasensvіt and other trademarks, as well as under a private label for retail chains. It also produces and sells egg products under the Ovostar trademark.
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