Economic Undertakings

Ovostar Union Public: 08.27.2021 pdf9.76 mb CR # 12 Financial statements (unaudited) for 6M ended June 30, 2021


JUNE 30, 2021


Board statement


Interim management report


Condensed interim consolidated statement of comprehensive income


Condensed interim consolidated statement of financial position


Condensed consolidated interim statement of changes in equity


Summary interim consolidated cash flow statement


Notes to the condensed consolidated interim financial statements



6M 2021 / 2

Statement by the board of directors

Members of the Board of Directors of Ovostar Union Public Company Limited in accordance with subsection (3c) and (7) of section (10) of the law providing for transparency requirements with regard to information on issuers whose shares are admitted to trading on a regulated market (L.190 (I) / 2007 – “Transparency Law”) hereby confirms that to its knowledge:

  1. these unaudited condensed consolidated interim financial statements
    1. have been prepared in accordance with applicable international standards

Financial reporting standards as adopted by the European Union and in accordance with the requirements set out in subsection (4) of section (9) of the Transparency Act, and

    1. give a true and fair view of the assets, liabilities, financial situation and results of the issuer and of the companies included in the consolidated accounts taken as a whole.
  1. the interim management report includes a fair review of the information required by paragraph (6) of article (10) of the transparency law.




Borys Belikov

Vitalii Veresenko

Karen archakyan

Chief Executive Officer,

President of the council,

Head of the Audit Committee,

Executive director

Non-executive director

Non-executive director



Sergii karpenko

Vitalii Sapojnik

Non-executive director

Financial director


6M 2021 / 3

Interim management report

In accordance with the Law providing for transparency obligations with regard to information on issuers whose shares are admitted to trading on a regulated market (L.190 (I) / 2007 – “Transparency Law”), this interim management report includes the following:

  • a detailed and extensive economic analysis of the results which makes it possible to assess and evaluate the evolution of the results during the period;
  • a declaration of any income from non-recurring or extraordinary activities of the Group;
  • comparative economic analysis of the figures appearing for the period compared to the corresponding previous period, which must be sufficient and extensive in order to identify the changes and differences between the results of the two periods;
  • an indication of the significant events that occurred during the first half of the financial year and their impact on the interim financial statements;
  • a description of the main risks and uncertainties for the remaining six months of the financial year;
  1. any other material information, which affects or could affect the appreciation or judgment by readers of the report, concerning the profits and losses for the relevant period or any future period, the outlook and trends of operations and the gain or loss of ‘im – important contracts or cooperations;

– a description of transactions between related parties during the first six months of the financial year, in accordance with the International Financial Reporting Standard applicable to transactions between related parties.


6M 2021 / 4

Market Snapshot

Flock of laying hens

From the third quarter of 2020, the Ukrainian egg industry decreased in terms of the total flock of laying hens and production volumes. The poor harvest of the previous year pushed up the prices of the main components of feed mixtures, which subsequently increased production costs. This, together with a rather unfavorable dynamics of the selling prices of eggs, caused huge losses for many egg producers and forced some of them to reduce their flocks.

As of June 30, 2021, the total herd (including all kinds of birds of all breeds) was 239.2 million birds, of which 114.4 million are industrial flocks. (2020: 248.8 million and 121.4 million respectively). The total herd of laying hens decreased 14% year-on-year to 29.2 million hens (2020: 33.9 million).

The share estimated by Ovostar Union in the total flock of laying hens has increased from 23% to 27%, which is the largest share among indtrial egg producers in Ukraine.

* Source: National Statistics Service of Ukraine


Eggs in shell

The total volume of eggs produced by industrial producers in the first half of 2021 decreased by 24% compared to 6M 2020 and reached 3.5 billion eggs (2020: 4.6 billion eggs).

Ovostar Union estimated that the average share of industrial shell egg production during the reference period was 24% (2020: 17%). However, according to the results of June 2021, the Group produced 26% of the total industrial volume, making Ovostar Union the leading egg producer in Ukraine.

Egg products

In the 6 months of 2021, the estimated production volume of dry eggs in Ukraine was 3.4 thousand. tons, production of liquid egg products – 6.9 thousand. tons.

The estimated share of Ovostar Union in the total volume of dry egg products during the reference period is 48%; share in total liquid egg products produced – 83%.

6M 2021 / 5

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Ovostar Union SA published this content on August 27, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 28 Aug 2021 07:31:05 UTC.

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