Astarta Agro Holding, the largest sugar producer in Ukraine, paid UAH 1.84 billion in taxes and fees to the budgets of all levels in January-October 2023, the company’s press service reported on Facebook.
According to the report, more than UAH 1.08 billion of this amount went to local budgets of territorial communities in Poltava, Khmelnytsky, Vinnytsia, Ternopil, Zhytomyr, Chernihiv, and Kharkiv regions. The agricultural holding transferred over UAH 753 million to the state budget.
“During the full-scale war alone, Astarta transferred over UAH 3.46 billion to the budgets of all levels. We are increasing these volumes from year to year because we are convinced that our taxes support both the budget and the people of Ukraine. This is especially true now, when the lion’s share of budget expenditures is spent on improving the country’s defense capabilities. This is our conscious choice, and I urge all Ukrainian businesses, without exception, to make this decision and pay taxes in good faith under any circumstances,” said Astarta’s founder and CEO Viktor Ivanchyk.
According to the agricultural holding, Astarta, together with Ukrainian and international partners, also continues to implement social initiatives within the Common Help Ukraine humanitarian project. The estimated value of charitable contributions and humanitarian aid provided by the project already exceeds UAH 809 million, of which UAH 56 million was allocated to the development of regional entrepreneurship in the communities where the agricultural holding operates.
“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 and dairy farms with 22 thousand cattle, an oil extraction plant in Globyno (Poltava region), seven elevators and a biogas complex.
In the third quarter of 2023, the agricultural holding earned EUR1.24 million in net profit, down 27.7 times compared to the same period in 2022. Astarta’s revenue decreased by 14.4% to EUR104.75 million, gross profit by 2.7 times to EUR26.96 million, operating profit by 7.6 times to EUR6.79 million, and EBITDA by 42.7% to EUR97.25 million.
Due to significantly better performance in the first half of this year compared to the first half of last year, in the first nine months of 2023, net profit decreased by 9.8% to EUR 55.97 million, while revenue increased by 14.8% to EUR 392.00 million. The company’s gross profit increased by 3.0% to EUR 151.91 million, while operating profit decreased by 15.9% to EUR 79.91 million and EBITDA by 10.8% to EUR 116.63 million.