Avangardco revenue rises 7.3% yoy, EBITDA grows 10.3% yoy in 1H13

Avangardco (AVGR LI) reported 1H13 revenue of USD 304 mln (+7.3% yoy) on August 30. Its revenue growth was driven by its egg products segment (+61% yoy to USD 57.6 mln), while its shell egg segment faced a 1.4% yoy decline to USD 198.8 mln due to a 6% yoy decrease in selling price. The company’s EBITDA increased 10.3% yoy to USD 134 mln, while its EBITDA margin increased to 44% from 43%. Net income grew 8.2% yoy to USD 105.6 mln, and net margin improved to 35% from 34%. The company increased its laying hens flock 10.7% to 22.8 mln.