In the second quarter of 2024, Astarta Agro Holding sold 141.9 thousand tons of sugar, up 106% year-on-year, and increased sugar sales by 77% to 211.4 thousand tons over two quarters.
According to the company’s announcement on the Warsaw Stock Exchange, the average sugar price in the second quarter decreased by 13% compared to the same period last year and by 10% over six months.
Astarta’s corn sales in the second quarter increased by 109% to 123 thousand tons, up from 58.8 thousand tons a year earlier. In the first half of the year, corn sales increased by 18% to 337.9 thsd tonnes.
At the same time, sales of sunflower seeds decreased by 98% to 705 thsd tonnes, while their selling price increased by 20%. In the first half of the year, sunflower sales decreased by 67% to 20.066 thsd tonnes, while prices were 20% lower than last year.
Sales of soybean oil in the second quarter decreased by 24% to 44.788 thousand tons, while prices also fell by 10%. Sales in the first half of 2024 increased by 21% year-on-year to 27.142 thousand tons, but prices were 15% lower.
In addition, in the second quarter, Astarta reduced sales of soybean flour by 24% to 44,788 thousand tons, while prices were 10% lower than last year. In the first half of 2024, they were 10% lower compared to the same period last year.
The agricultural holding’s sales of milk in the second quarter increased by 4% to 29.42 thousand tons, while the price of the product increased by 20%. Sales in the first half of 2024 increased by 5% to 60,013 thousand tons, prices – by 21%.
In 2023, Astarta, the largest sugar producer in Ukraine, reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.
Astarta CEO Viktor Ivanchik’s family currently owns 40.68% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of shares belong to the company itself and were previously bought back as part of a buyback.
According to the National Bank of Ukraine, as of October 1, 2023, Credit Agricole Bank ranked 11th in terms of total assets (UAH 100.36 billion) among 63 operating banks in the country, with 141 branches. The bank is fully owned by French Credit Agricole SA.
