OVOSTAR UNION
CONSOLIDATED CONDENSED NTERIM FINANCIAL STATEMENTS FOR THE 6 MONTHS ENDED
30 JUNE 2021
Contents
BoD Statement | 3 |
Interim Management Report | 4 |
Consolidated Condensed Interim Statement of Comprehensive Income | 13 |
Consolidated Condensed Interim Statement of Financial Position | 14 |
Consolidated Condensed Interim Statement of Changes in Equity | 15 |
Consolidated Condensed Interim Statement of Cash Flows | 16 |
Notes to the Consolidated Condensed Interim Financial Statements | 17 |
OVOSTAR UNION PCL | 6M 2021 / 2 |
Statement of the Board of Directors
Members of the Board of Directors of Ovostar Union Public Company Limited in accordance with Subsection (3c) and (7) of the Section (10) of the Law providing for transparency requirements in relation to information about issuers whose shares are admitted to trading on a regulated market (L.190(I)/2007 - "Transparency Law") herewith confirms that to the best of their knowledge:
- the present unaudited consolidated condensed interim financial statements
- have been prepared in accordance with the applicable International
Financial Reporting Standards as adopted by the European Union and in compliance with the requirements set forth in Subsection (4) of the Section (9) of the Transparency Law, and
- give a true and fair view of the assets, liabilities, financial position and profit or loss of the issuer and the undertakings included in the con- solidated accounts taken as a whole.
- the interim management report includes a fair review of the information required by subsection (6) of section (10) of the Transparency Law.
………………………………… | ………………………………… | ………………………………… |
Borys Bielikov | Vitalii Veresenko | Karen Arshakyan |
Chief Executive Officer, | Chairman of the Board, | Head of Audit Committee, |
Executive Director | Non-executive Director | Non-executive Director |
………………………………… | ………………………………… |
Sergii Karpenko | Vitalii Sapozhnik |
Non-executive Director | Chief Financial Officer |
OVOSTAR UNION PCL | 6M 2021 / 3 |
Interim Management Report
In accordance with the Law providing for transparency requirements in relation to information about issuers whose shares are admitted to trading on a regulated market (L.190 (I)/2007 - "Transparency Law") the present Interim Management Report includes the fol- lowing:
- a detailed and extended economic analysis of the results that enables assessment and evaluation of the course 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 showing for the period in relation to the previous corresponding period, which has to be sufficient and extensive in order to identify the changes and the differences between the results of the two periods;
- an indication of important events that have occurred during the first six months of the fi- nancial year, and their impact on the interim financial statements;
- a description of the principal risks and uncertainties for the remaining six months of the financial year;
- any other substantial information, which affects or could affect the assessment or evalu- ation by the readers of the report, regarding profits and losses for the relevant period or any future periods, the prospects and trends of the operations and the gain or loss of im- portant contracts or co operations;
- a description of the related parties' transactions during the first six months of the financial year, in accordance with the International Financial Reporting Standard applicable to the related parties transactions.
OVOSTAR UNION PCL | 6M 2021 / 4 |
Market Overview
Laying Hens Flock
Starting from the third quarter of 2020 Ukrainian egg industry has been shrinking in terms of the total laying hens' flock and production volumes. Poor harvest in the previous year boosted the prices for main feed-mix components, which subsequently increased cost of production. This, alongside quite unfavorable dynamics of the selling prices of eggs, caused huge losses for many egg producers and made some of them cut their flocks.
As of 30 June 2021 the total flock (including all kinds of birds of all breeds) was 239.2 mln birds, including 114.4 mln of industrial flock. (2020: 248.8 mln and 121.4 mln re- spectively). Total laying hens' flock fell by 14% Y-o-Y to 29.2 mln hens (2020: 33.9 mln).
Ovostar Union estimated share in the total laying hens' flock rose from 23% to 27% which is the largest share among the indtri- al egg producers in Ukraine.
*Source: State Statistics Service of Ukraine
OVOSTAR UNION PCL
Shell eggs
Total volume of eggs output by the industrial producers in the first half of 2021 fell by 24% in comparison to 6M 2020 and reached 3.5 bln eggs (2020: 4.6 bln eggs).
Ovostar Union estimated average share in industrial shell eggs production in the reporting period was 24% (2020: 17%). How- ever, by the results of the June 2021 the Group produced 26% of the total industrial volume, which makes Ovostar Union #1 egg producer in Ukraine.
Egg products
In the 6 months of 2021 estimated production volume of dry egg products in Ukraine was 3.4 thous. tons, output of liquid egg products - 6.9 thous. tons.
Ovostar Union estimated share in total volume of dry egg products output in the reporting period equals 48%; share in total liquid egg products produced - 83% .
6M 2021 / 5
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Ovostar Union NV published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2021 07:31:05 UTC.