10 November 2022, Thursday, 11:31 99

Astarta’s profit down 39% in 9M

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Редактор: Roman Vaniyan

In the first nine months of 2022, one of the largest sugar producers in Ukraine, the Astarta (Kyiv) agro-industrial holding, reduced its consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 17.5% or EUR 27.7 million year over year to EUR 130.802 million.

This follows from a statement by the company's financial report, the Ukrainian News agency reports.

At the same time, in 9M, the company reduced its net profit by 39.3% or EUR 40.125 million to EUR 62.07 million.

During the specified period, the consolidated turnover increased by 13.4% or EUR 40.404 million to EUR 341.343 million.

At the same time, the increase was due to the growth of income in the segments of agricultural production and soybean processing.

The company also increased its share of export revenue from 41% in the previous period to 50% in the current period.

According to the report, the revenues of the agricultural production segment increased by 10% compared to the same period last year to EUR 104 million, while the export of agricultural products provided 82% of the total revenue of the segment.

Revenue in the segment of sugar production in 9M of 2022 amounted to EUR 108 million, while the revenue of the soybean processing segment increased by 46% to EUR 92 million.

The export of soybean processing products provided 85% of the total revenue of this segment.

As the Ukrainian News agency earlier reported, in the 1^st half of the year, Astarta reduced its profit by 3.2 times to EUR 27.7 million.

In 2021, Astarta increased EBITDA by 77.6%, or EUR 88 million to EUR 201.459 million compared to 2020, with revenue increasing by 18.2%, or EUR 75.7 million to EUR 491.355 million.

In 2021, the company increased its net profit by 14 times or EUR 113.9 million year over year to EUR 122.491 million.

The company cultivates about 220,000 hectares in seven regions, has six sugar factories, dairy farms for 22,000 cows and a bioenergy complex in Hlobyne, Poltava region, which forms an industrial cycle with a sugar factory and a soybean processing plant.

40% of the holding company Astarta Holding N.V. controlled by Viktor Ivanchyk through Cypriot Albacon Ventures Limited and 29.9% by Canadian Fairfax Financial Holdings Ltd.