In January-March 2022, Kyiv-based Astarta agri-industrial holding, one of the largest sugar producers in Ukraine, increased its Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 19.4%, or EUR 3.769 million, to EUR 23.186 million year over year.
This is stated in the company's financial report, Ukrainian News Agency reports.
At the same time, during the specified period, earnings increased by 44%, or by EUR 36.486 million, to EUR 119.321 million, mainly due to sales growth in the agricultural segment - earnings in this segment amounted to EUR 62.543 million (an increase of 4.3 times compared to the first quarter of 2021).
Earnings from the sugar segment decreased by 31.3% compared to the first quarter of 2021 to EUR 19.752 million, earnings from the soybean processing segment decreased by 11.6% to EUR 25.915 million, while earnings from the dairy segment increased by 8% to EUR 9.895 million.
In the first quarter, exports amounted to EUR 71 million, or 59% of consolidated earnings.
At the same time, in the first quarter of 2022, the holding reduced its net profit by 27.9%, or EUR 1.014 million, to EUR 2.616 million compared to the first quarter of 2021.
As Ukrainian News Agency earlier reported, in 2021 Astarta increased EBITDA by 77.6%, or EUR 88 million, to EUR 201.459 million compared to 2020, increasing earnings by 18.2%, or EUR 75.7 million, to EUR 491.355 million.
In 2021, compared to 2020, the company increased its net profit by 14 times, or by EUR 113.9, to EUR 122.491 million.
The company processes about 220,000 hectares in seven regions, has six sugar refineries, dairy farms for 22,000 heads and a bioenergy complex in Hlobyne of Poltava region, which forms an industrial cycle with a sugar refinery and a soybean processing plant.
39.6% of the Astarta Holding N.V. holding company is controlled by Viktor Ivanchyk through the Cypriot Albacon Ventures Limited, and 29.9% - by the Canadian Fairfax Financial Holdings Ltd.
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