Business news from Ukraine

“Astarta” increased cattle numbers by 10% and milk production by 13% in 2023

19 April , 2024  

In 2023, Astarta agricultural holding increased the number of cattle at its three dairy farms by 10% year-on-year to 26 thousand heads, of which 47% were dairy herds, the company said in its annual report on Wednesday evening.

According to the document, cattle milk yields increased by 9% compared to the same period last year and reached 25.8 kg/day. This, together with a 3% increase in the number of cows in the herd compared to last year, led to a 12% increase in milk production compared to the same period last year and amounted to 115 thousand tons.

In addition, in 2023, the agricultural holding increased sales of raw milk by 13% year-on-year to 111 thousand tons, of which 96% was of high quality (94% a year earlier).

Astarta sold all of its milk domestically. The agricultural holding supplies top quality raw milk to Ukraine’s leading large dairy processors, including Lustdorf, Yagotynsky Butter Plant and others.

The average selling price of raw milk increased by 10% year-on-year to UAH 14 thousand. In euros, the selling price decreased by 4% year-on-year to 352 EUR/t in 2023 amid inflation and exchange rate changes.

According to the report, Astarta operates 33 dairy farms in three regions of Ukraine and specializes in the production of raw milk for further sale to processing companies.

The agricultural holding has a calf breeding complex to meet its own needs, which was opened in 2012 and produces about 5,000 heads of highly productive calves annually.

As reported, in 2023, Astarta reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million. Last year, the agricultural holding’s revenue increased by 21.3% to EUR 618.93 million, gross profit by 7.8% to EUR 223.59 million, while operating profit decreased by 12.2% to EUR 95.78 million.