30 Sep 2014 07:00
30 September 2014
AVANGARDCO INVESTMENTS PUBLIC LIMITED
Imperovo Foods receives EU approval to export egg products
Кyiv, Ukraine - AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (the «Company» or «AVANGARDCO IPL»), the largest producer of shell eggs and egg products in Ukraine and number one producer in Eurasia, announces that the Imperovo Foods egg processing plant has received approval to export egg products to the European Union (EU) effective immediately.
The Imperovo Foods egg processing plant is one of the most technologically advanced facilities for production of dry egg products in Europe. Currently, it produces more than 12 types of dry egg products, including egg albumen powder high whip, egg albumen powder high gel, whole egg powder and egg yolk powder which are used in the food processing industry.
Iryna Marchenko, Chief Executive Officer of AVANGARDCO IPL, commented:
"The EU license to export egg products provides AVANGARDCO IPL with the opportunity to enter new European export markets in line with our strategy to expand sales into global markets. We expect that the first shipment of dry egg products will be made this October."
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For investor's inquiries:
Valeriya Myagkohod AVANGARDCO IPL Investor Relations Manager
phone.: +38 044 393 40 50 mob.: +38 067 223 46 88 e-mail: ir@avangardco.ua
| FTI Consulting London Larisa Kogut-Millings +44 (0) 20 3727 1364
Elena Kalinskaya +44 (0) 20 3727 1279
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Information for editors
AVANGARDCO IPL is one of the largest agro-industrial companies in Ukraine, specializing in the production of shell eggs and dry egg products. As of 30 June 2014, the Company holds a 55% share of the industrial shell egg market and a 92% share of the dry egg products market in Ukraine. As of 30 June 2014, the Company has the largest population of laying hens in Ukraine with 22.8 mln heads.
AVANGARDCO IPL is a vertically integrated company with the Company's facilities located in 14 regions of Ukraine and the Autonomous Republic of Crimea. The Company has 19 farms for laying hens, 3 second order breeder farms, 10 farms for rearing young laying hens, 6 feed mills, 3 long-term storage facilities and the Imperovo Foods egg processing plant, which is one of the most technologically advanced facilities for processing eggs in Europe.
The Company exports its products to 33 countries, with its primary export markets in the Middle East, Africa, Asia and the CIS.
As of 30 June 2014, the Company's revenues amounted to US$262.7 mln (1H 2013: US$304.3 mln) and EBITDA was US$79.0 mln (1H 2013: US$134.7 mln).
The Company's shares, in the form of Global Depositary Receipts, have been trading on the London Stock Exchange since May 2010. The Eurobond issue for approximately US$200 mln with a maturity on 29 October 2015 was included in the official list of the UK Listing Authority (UKLA) and admitted to trading on a regulated market of the London Stock Exchange on November 1, 2010.
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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Avangardco IPL. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might", the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in the Company's geographical locations, rapid technological and market changes in our industry, as well as many other risks specifically related to Avangardco IPL and its operations.