Agro-industrial holding Astarta, the largest sugar producer in Ukraine, in April-June 2023 increased revenue from sales of key products by 68.3% compared to the same period last year – up to UAH 4.7 billion, according to the data published by it on the Warsaw Stock Exchange.
According to them, sugar sales increased by 9.2% year-on-year in the second quarter of this year to 68.9 thousand tons, while its average selling price increased by 40.6% to UAH 28.16 thousand per ton.
Milk sales in the second quarter of 2023 increased by 20.9% to 28.4 thousand tons, soybean oil – by 50.7% to 12.3 thousand tons, soybean meal – by 92% to 58.9 thousand tons.
Corn sales jumped 80.5% to 58.8 thousand tons, wheat sales jumped 95.6% to 5.9 thousand tons, and sunflower seed sales jumped 2.9 times to 28.6 thousand tons.
Agroholding specified that such an increase in sales in physical terms allowed to compensate for lower prices for most types of products. In particular, soybean oil fell in price by 28.8% to UAH 33.06 thousand/ton, wheat – by 26.8% to UAH 4.20 thousand/ton, sunflower seeds – by 21.5% to UAH 13.26 thousand/ton, corn – by 4.6% to UAH 6.85 thousand/ton.
Only soybean meal – by 33.6%, up to UAH 19.98 thousand/ton and milk – by 6.0%, up to UAH 13.09 thousand/ton.
Thus, sales of sugar in the second quarter increased by 53.6% to UAH 1 billion 938.8 million, wheat – by 24.8% to UAH 43.1 million, corn – by 72.2% to UAH 402.8 million, and sunflower seeds – by 72.2% to UAH 1 billion 938.8 million, sunflower seeds – by almost 2.3 times, to UAH 379.4 mln, soybean oil – by 11.8%, to UAH 405.1 mln, soybean meal – by almost 2.6 times, to UAH 1 billion 176.8 mln and milk – by 28.1%, to UAH 371.6 mln.
Overall, in the first half of the year, Astarta’s revenue from the sale of key products increased by 64.8% to UAH 10.72 billion compared to the same period last year, according to data published by the Warsaw Stock Exchange.
The main contribution was made by sales of sugar – UAH 3.27 billion, up 75.5%, corn – UAH 2.66 billion (+53.2%) and soybean meal – UAH 1.96 billion (+84.5%).
“Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It includes six sugar factories, agro-farms with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, an oil extraction plant in Globino (Poltava region), seven elevators and a biogas complex. In this marketing year, the company sowed 201 thousand hectares, which is 40% more than last year.
Agropromholding earned EUR16.13 mln of net profit in the first quarter of 2023, which is 6.2 times more than in the first quarter of 2022. Its revenue grew by 37.1% to EUR163.55m, while EBITDA increased by 63.5% to EUR37.91m.
In hryvnia terms, Astarta increased its net profit 7.5 times to UAH 632.59m in the first quarter of this year, while revenue grew 66.6% to UAH 6bn 415.09m.
