Companies
Business Profile
One of Ukranie’s top 3 egg producers. The group’s vertically integrated business covers poultry production (parental flock, hatching, replacement chickens), egg production, national distribution, dry and liquid egg products, sunflower oil production, as well as producing feed, sunflower meal and fuel briquettes. Has debuted on the Warsaw Stock Exchange in 2011. Last year reported $50.1m of sales (+36% y-o-y). Ovostar’s bird flock increased by 28% to 2.3 million laying hens in 2011. Recently, has tripled its egg processing capacity to 180,000 eggs/hour, implying an annual capacity of 480 million eggs.
Financial Summary
| Indicator | 2009 | 2010 | 2011E | 2012E | 2013F |
| Sales ($m) | - | - | **** | **** | **** |
| EBITDA ($m) | - | - | **** | **** | **** |
| Net Income ($m) | - | - | **** | **** | **** |
| Net Debt ($m) | - | - | **** | **** | **** |
Valuation Summary
| Indicator | 2009 | 2010 | 2011E | 2012E | 2013F |
| P/E | - | - | **** | **** | **** |
| P/Sales | - | - | **** | **** | **** |
| EV/EBITDA | - | - | **** | **** | **** |
| P/Book | - | - | **** | **** | **** |
*Data available to Dragon Capital's institutional clients only.