In January-June 2023, Astarta (Kyiv), one of the largest sugar producers in Ukraine, increased its net profit by 97.4%, or by EUR 27 million, to EUR 54.725 million compared to the 1st half of 2022.
This is stated in the company's financial report, Ukrainian News Agency reports.
At the same time, for the specified period, revenues increased by 31.6%, or by EUR 68.9 million, to EUR 287.25 million.
In particular, the revenues from exports increased by 49% to EUR 158 million, providing 55% of Astarta's consolidated revenues.
Also, in the 1st half of 2023, the holding increased its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 42.7%, or by EUR 29.1 million, to EUR 97.249 million compared to the 1st half of 2022.
As Ukrainian News Agency earlier reported, last year the company reduced its net profit by 46.8%, or EUR 57.327 million, to EUR 65.164 million.
Also in 2022, Astarta reduced EBITDA by 23.2% to EUR 154.8 million, increasing revenue by 3.8% to EUR 510.1 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. is controlled by Viktor Ivanchyk through Cypriot Albacon Ventures Limited and 29.9% by Canadian Fairfax Financial Holdings Ltd.
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