| POLISH FINANCIAL SUPERVISION AUTHORITY | |||||||||||
| UNI - EN REPORT No | 6 | / | 2019 | ||||||||
| Date of issue: | 2019-05-15 | ||||||||||
| Short name of the issuer | |||||||||||
| OVOSTAR UNION N.V. | |||||||||||
| Subject | |||||||||||
| Financial results for the three months ended 31 March 2019 | |||||||||||
| Official market - legal basis | |||||||||||
| art. 56. 1. 2 of Act on Public Offering. | |||||||||||
| Unofficial market - legal basis | |||||||||||
| Contents of the report: | |||||||||||
| Ovostar Union PCL (WSE: OVO) (hereinafter, the “Group”), a vertically integrated holding company, one of the leading egg and egg products producers in Ukraine, announces its financial results for the three months ended 31 March 2019 Revenue, gross profit and gross margin In Q1 2019 The Group’s revenue equaled USD 31.1 mln, demonstrating 8% fall YoY (Q1 2018: USD 33.9 mln). The dynamics is accounted for by the respective decrease of selling prices of eggs and eggs products. In the reporting period the share of export sales went up to 58% of total revenues and reached USD 18.0 mln (Q1 2018: 43% and USD 14.4 mln respectively). The gross profit in Q1 2019 equaled USD 7.8 mln, resulting in 25% gross profit margin (1Q 2018: USD 11.2 mln and 33%). The main factors that negatively influenced marginality are the reduction of selling prices of eggs and egg products alongside the increase of cost of sales. Operating profit, EBITDA and cash flow from operating activities The Group’s operating profit for the reporting period was USD 4.6 mln (Q1 2018: USD 8.8 mln). EBITDA fell respectively to USD 5.4 mln (Q1 2018: USD 9.5 mln). Net cash flow from operating activities during the 1Q 2019 was USD 4.4 mln (Q1 2018: USD 9.1 mln). Net profit Over the 3 months 2019 net profit reached USD 4.5 mln (1Q 2018: USD 7.3 mln). The Group’s CEO Borys Bielikov noted: “The first quarter of 2019 proved to be challenging for the egg industry due to the reduction of selling prices both on local and export markets. With regard to the unfavorable market situation, the management believes that the results achieved by the Company in the reporting period are quite satisfying” | |||||||||||
| Annexes | |||||||||||
| File | Description | ||||||||||
| fin_Ovostar Union Q1 2019 FS.pdf | CR 6-2019, 15 May 2019, Q1 2019 Financial Statement | ||||||||||
| OVOSTAR UNION N.V. | |||||||||||||
| (fullname of the issuer) | |||||||||||||
| OVOSTAR UNION N.V. | Spożywczy (spo) | ||||||||||||
| (short name of the issuer) | (sector according to clasification of the WSE in Warsow) | ||||||||||||
| 1075 AA | Amsterdam | ||||||||||||
| (post code) | (city) | ||||||||||||
| Koningslaan | 17 | ||||||||||||
| (street) | (number) | ||||||||||||
| (phone number) | (fax) | ||||||||||||
| (e-mail) | (web site) | ||||||||||||
| (NIP) | (REGON) | ||||||||||||
| SIGNATURE OF PERSONS REPRESENTING THE COMPANY | |||||
| Date | Name | Position / Function | Signature | ||
| 2019-05-15 | Anna Tews | Head of Investor Relations | |||
fin_Ovostar Union Q1 2019 FS.pdf
