Ovostar Union : 16.11.2020 pdf3.88 mb CR#12 Financial statements (unaudited) for 9M ended 30 September 2020

PUBLIC COMPANY LIMITED

OVOSTAR UNION

CONSOLIDATED CONDENSED	FOR THE 9 MONTHS
NTERIM FINANCIAL STATEMENTS	ENDED 30 SEPTEMBER 2020

CONTENTS

BoD Statement………………………………………………………	3
Interim management report…………..……………………	4
consolidated condensed
Interim statement of comprehensive income
(unaudited)……………………………………………………………..	7
consolidated condensed interim
statement of financial position
(unaudited)……………………………………………………………..	8
consolidated condensed interim
statement of changes in equity
(unaudited)……………………………………………………………..	9
consolidated condensed interim
statement of cash flows
(unaudited)……………………………………………………………..	10
notes to the consolidated condensed interim
financial statements
(unaudited)……………………………………………………………..	11

Ovostar Union PCL

9M 2020 |

2

STATEMENT	of THE MEMBERS OF
THE BOARD OF DIRECTORS

Members of the Board of Directors of Ovostar Union Public Company Limited in accordance with the applicable provisions 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 (Ι)/2007- "Transparency Law") herewith confirms that to the best of their knowledge the present unaudited interim consolidated condensed financial statements for the nine months ended 30 September 2020

1. have been prepared in accordance with the International Financial Reporting Standard as adopt- ed by the European Union; and
2. 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 consolidated accounts as a whole.

12 November 2020

Nicosia, Cyprus

[signed]	[signed]	[signed]
…………………………………	…………………………………	…………………………………
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

[signed]	[signed]
…………………………………	…………………………………
Sergii Karpenko	Vitalii Sapozhnik
Non-executive Director	Chief Financial Officer

Ovostar Union PCL

9M 2020 |

3

KEY SEGMENTS ACTIVITY

INTERIM MANAGEMENT REPORT

EGG SEGMENT

Production

As of 30 September 2020 total flock of the Company was 8.1 mln heads demonstrating 3% increase Y-o-Y (2019: 7.9 mln heads). The laying flock grew by 3% Y-o-Y and reached 6.9 mln heads (2019: 6.7 mln heads).

Over the nine months of 2020 1 236 mln eggs were produced (2019: 1 191 mln eggs).

sales

Sales volume of shell eggs totaled to 795 mln (2019: 888 mln eggs). Lower sales volume is accounted for by reduction of trading activities in the reporting period. Export sales equaled 266 mln eggs or 34% of the total sales volume (2019: 440 mln eggs and 50% respectively).

Average selling price of shell eggs fell by 8% Y-o-Y to 0.056 USD/egg (2019: 0.061 USD/egg).

EGG PRODUCTS SEGMENT

Production

In the reporting period 433 mln eggs were processed (2019: 432 mln eggs). The output of dry and liquid egg products was 2 597 tons (+19% Y-o-Y) and 9 983 tons (-5%Y-o-Y) respectively.

sales

Sales volume of dry egg products equaled 2 417 tons (+39% Y-o-Y), out of which 1 705 tons, or 71%, were exported (2019: 1 235 tons and 71% respectively).

Sales volume of liquid egg products equaled 9 692 tons (-7%Y-o-Y), out of which 3 521 tons, or 36%, were exported (2019: 5 069 tons and 48% respec- tively).

Average selling price of dry egg products decreased by 8% Y-o-Y to 4.05 USD/kg (2019: 4.39 USD/kg); average selling price of liquid egg products fell by 16% Y-o-Y to 1.19 USD/kg (2019: 1.41 USD/kg).

Ovostar Union PCL

9M 2020 |

4