OVOSTAR UNION N.V. - Ovostar Union N.V. published semi-annual report for the period ended 30 June...

| | POLISH FINANCIAL SUPERVISION AUTHORITY | | | | | | | | | | |
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| | | | | UNI - EN REPORT No | 13 | / | 2013 | | | | |
| | Date of issue: | 2013-08-30 | | | | | | | | | |
| | Short name of the issuer | | | | | | | | | | |
| | OVOSTAR UNION N.V. | | | | | | | | | | |
| | Subject | | | | | | | | | | |
| | Ovostar Union N.V. published semi-annual report for the period ended 30 June 2013 | | | | | | | | | | |
| | Official market - legal basis | | | | | | | | | | |
| | Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bie??ce i okresowe | | | | | | | | | | |
| | Unofficial market - legal basis | | | | | | | | | | |
| | Contents of the report: | | | | | | | | | | |
| | Brief summary of Ovostar Union's key developments over the first six months of 2013 is described below. Financial results Revenues, gross profit and gross margin In H1 2013 total revenue of the Group increased by 19% to USD 33,098 ths as a result of increased sales volumes in all three segments. Over the same period, the Group?s cost of sales increased by 35% to USD 24,033 ths, growing at a faster pace in comparison to the revenue mainly due to higher realized fodder cost and low grain yields in 2012. As a result, gross profit decreased by 22% to USD 10,635 ths representing At the same time, the projected volumes of harvest for year 2013 are more optimistic giving solid grounds to forecast decrease in grain costs in the second half of the year. Operating profit, EBITDA and cash flow from operating activities In H1 2013 EBITDA decreased by 28% to USD 9,476 ths while EBITDA margin amounted to 29% compared to 47% in H1 2012. Over the same period, operating profit of the Group decreased by 42% to USD 6,842
ths. Selling expenses increased by 68% to USD 2,560 ths and administrative expenses increased by 30% to USD 1,208 ths as a result of increased sales volumes in all segments. Net profit In H1 2013 net profit decreased by 44% to USD 6,739 ths over the same period last year. Operational results In the first half of 2013 the Group increased it total flock by 26% over the same period last year to 4.38 mln from 3.48 mln (the Group?s laying hens flock increased by 37% to 3.36 mln laying hens from 2.45 mln in 1H 2012). Egg production increased by 30% YoY to 422 mln eggs while volume of eggs sold increased by 14% to 257 mln. The average egg sales price amounted to USD 0.75/10 eggs, decreasing by 8% from USD 0.82/10 eggs in the first half of 2012 as egg selling price did not show the expected growth for traditionally high season before Easter. In the first half of 2013 the Group produced 781 tons of dry and 3,188 tons of liquid egg products, a 29% and 46% increase YoY, respectively. Sales volume of liquid egg
products increased by 49% to 3,188 tons while sales of dry egg products increased by 83% to 713 tons. Although the prices for individual egg products remained comparable to the same period previous year, a change in product sales mix has driven the average sales price of liquid egg products down by 4% to USD 187/ton from USD 194/ton in H1 2012 while the average sales price of dry egg products has increased by 5% over the same time period to USD 567/ton from USD 539/ton. Investment program update Production expansion is going in accordance with previously announced plans. In December 2013, total capacity of Ovostar Union egg production facilities will reach 5.4 mln laying hen places. More detailed information can be found in the attached report. | | | | | | | | | | |
| | Annexes | | | | | | | | | | |
| | File | Description | | | | | | | | | |
| | semi-annual report 2013 30-08-2013 - Full.pdf | report 13-2013; 30-08-2013 | | | | | | | | | |

REPORT
INFORMATION ABOUT THE ENTITY
SIGNATURE OF PERSONS REPRESENTING THE COMPANY

| | | 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) | | |

REPORT
INFORMATION ABOUT THE ENTITY
SIGNATURE OF PERSONS REPRESENTING THE COMPANY

REPORT
INFORMATION ABOUT THE ENTITY
SIGNATURE OF PERSONS REPRESENTING THE COMPANY