Astarta Agro Holding, the largest sugar producer in Ukraine, increased its net profit by 35.1% in January-September 2024 compared to the same period in 2023, to EUR75.60 million, according to the company’s report on the Warsaw Stock Exchange.
According to the report, consolidated revenue increased by 12.6% to EUR441.46 million, while gross profit grew by 20.3% to $183.98 million and EBITDA by 12.8% to $131.56 million.
It is indicated that the results of the sugar production segment accounted for 38% of total sales or EUR169 million, which is 19% more than in the same period last year.
According to the report, agriculture accounted for 33% of Astarta’s revenue, or EUR146 million, up 28% year-on-year, while livestock revenue increased by 22% to EUR37 million.
At the same time, sales from soybean processing decreased by 17% year-on-year to EUR77 million.
It was specified that the share of exports is 64% of consolidated revenue, or EUR283 mln, compared to 46% in the first nine months of 2023.
Taking into account the data for the first half of the year, Astarta managed to improve its performance in the third quarter.
As reported, in the first half of 2024, the agricultural holding reduced its net profit by 13.9% compared to the first half of 2023 to EUR 47.11 million and EBITDA by 11.7% to $85.83 million, while revenue increased by 11.6% to EUR 320.71 million.
“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, 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 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.
