In a recent financial release, Ovostar Union Agro Industries reported on the first quarter of fiscal 2022.  For the period, the company posted a net loss of $16.4 million on revenue of $277 million.  For the corresponding first quarter of 2021, the company earned $4.7 million of revenue of $316 million. 

Ovostar Union Group is vertically integrated and is the second largest egg producer in Ukraine.  The company sold 87 percent of product in the domestic market with the remainder as export.  Shell eggs represented 75 percent of revenue with 25 percent as egg products. Disruption of exports to the Middle East following the blockage of the Port of Odessa contributed to the reduction in revenue.

 The company experienced major declines in the Eastern and Southern quadrants of the nation impacted by the conflict, compared to the Central and Western Oblasts that were largely unaffected by the invasion other than by aerial bombardment.

A major facility located in Makarov ceased production after occupation by Russian forces but is now undergoing repair of damage following reoccupation by Ukrainian troops.

Destruction of facilities resulted in net assets declining by 18.3 percent from December 31st 2021, to $115 million and long-term debt increased to $5.8 million.