Agricultural holding company Astarta reported a net loss of EUR14.07 million in the first half of 2026, compared to a net profit of EUR42.27 million for the same period last year, according to a report filed by the company with the Warsaw Stock Exchange on Thursday.
According to the report, while all segments generated net profit in January–June of last year, each segment recorded a loss this year: in sugar production, a loss of EUR3.83 million replaced a profit of EUR8.35 million; in crop production, a profit of EUR20.07 million turned into a loss of EUR3.76 million; in cattle farming, a loss of EUR2.41 million was recorded instead of a profit of EUR10.68 million; and in soybean processing, a loss of EUR2.27 million was recorded instead of a profit of EUR5.84 million.
Crop production and soybean processing reported operating profits, while sugar production and livestock farming posted operating losses. Furthermore, livestock farming also reported a gross loss.
According to the report, Astarta’s consolidated revenue for the first half of the year decreased by only 0.1% to EUR 226.47 million, with export sales accounting for 62% compared to 61% in the first half of last year.
The agriculture sector led the way, with sales growing by 27% to EUR78 million, or 34% of total revenue. In sugar production, sales fell by 10% to EUR72 million, or 32% of total revenue; in soybean processing, by 7% to EUR51 million; and in livestock farming, by 15% to EUR25 million.
Gross profit for January–June of this year fell by half—to EUR46.01 million—as the cost of goods sold rose by 10% compared to the same period last year, and the estimated value of crops and livestock was reduced due to falling agricultural prices and rising costs.
Consolidated EBITDA fell 2.4-fold compared to the same period last year, to EUR34.32 million.
It is noted that net investments decreased by 41% to EUR27 million following the completion of investments in a protein concentrate production plant and ongoing planned capital expenditures in other segments.
According to the report, in the first half of 2026, net financial debt (excluding lease obligations) amounted to EUR81 million, compared to EUR28 million in the first half of 2025. Total net debt (including leases) increased by 44% to EUR220 million.
“Astarta” is a vertically integrated agro-industrial holding operating in eight regions of Ukraine and is the largest sugar producer in Ukraine. It comprises six sugar plants, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Hlobine (Poltava Oblast), seven grain elevators, and a biogas complex.
Astarta’s net profit for 2025 fell 4.2 times—to $19.94 million—while consolidated revenue decreased by 23%—to $472 million.
