Avangard emerges as second largest egg producer in the world
Posted by Labels: Egg, Poultry, UkraineAvangard agroholding, the largest egg producer in Ukraine, has emerged as the second largest egg producer in the world, the World Poultry edition (the Netherlands) has reported.
(Kyiv Post)According to the World Poultry, with 22 million hens in production, the company dominates in its native Ukraine and the European Union and is second only to giant Cal-Maine Foods of the United States with 29 million hens.
The report says that Avangard reached production growth thanks to supplies of products to the Middle Easter, North Africa and Asia (over half of all shell eggs produced) with the anticipation of establishing a strong customer base in neighboring Russia and possibly the European Union.On the domestic market in Ukraine, Avangard has steadily increased penetration of the supermarket segment of distribution with a 30% share of retail chains.
The company has initiated a program of branding with Kvochka ("Mother Hen") as a recognized consumer product, reads the report.
Nataliya Vasylyuk, CEO of Avangard, said that the company will achieve our year-end target of six billion shell eggs. In the first nine months of 2011, the company produced 4.4 billion shell eggs compared to three billion shell eggs produced year-over-year.
She added that two large projects currently under construction are the Avis and Chornobaivske complexes. Each will consist of 13 houses with a total hen capacity of 2.5 million.
When the Avis and Chornobaivske complexes are fully operational, Avangard will rank as the leading world producer with 29 million hens and an output of 8.3 billion eggs annually.
Avangard is a vertically integrated holding, which produces eggs and egg products. It is the largest operator on the Ukrainian market.
The holding in the first half of 2011 saw consolidated net profit rise by 8% on 2010, to $67 million, while its consolidated revenues grew by 35%, to $223.9 million.
In April-May 2010, the holding conducted an IPO on the London Stock Exchange (LSE) for 21.7% stake worth some $208 million.
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