Astarta, Ukraine’s largest sugar producer, has invested more than UAH 410 million in modernizing its livestock enterprises since the start of the full-scale invasion, its press service reported on Facebook.
“During the war, livestock farming has become a pillar of food security and economic stability for businesses. In particular, we managed to compensate for the decline in exports due to the Russian blockade of seaports at the beginning of the full-scale invasion by using milk processed and sold in Ukraine,” Yaroslav Kushnir, director of Astarta’s livestock department, explained in a statement.
It was specified that the agricultural holding will continue to consolidate and reconstruct existing facilities, build new ones, and work with breeding and genetics, which will help to increase the economic efficiency of the segment, herd productivity and optimize livestock management.
Kushnir noted that Astarta is the largest producer of industrial milk in Ukraine with an annual production of 115 thousand tons. The company’s cattle herd totals more than 28 thousand heads.
“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine. It includes six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares, an oil extraction plant in Globyno (Poltava region), seven elevators and a biogas complex.
In 2023, the agricultural holding reduced its net profit by 5.0% to EUR 61.9 mln, and its EBITDA decreased by 6.1% to EUR 145.77 mln, while revenue increased by 21.3% to EUR 618.93 mln.
