Investment and Industrial Company Poltavazernoprodukt, part of Astarta, Ukraine’s largest sugar producer, has increased its irrigated area to 1,100 hectares, the company’s press service said on Facebook on Wednesday.
Serhiy Cherevik, regional director of Poltavazernoprodukt, quoted in the post, noted that irrigation has become a key factor in stable yields.
“This allows us to make the most efficient use of every millimeter of moisture. This year, we are growing hybrid corn and commercial soybeans on irrigated land.
Irrigation is an investment not only in this year’s harvest, but also in the stability and development of agricultural production in our region. We have ambitious plans to expand the irrigated area, because the future of Ukrainian agribusiness lies in sustainable and efficient technologies,” he emphasized.
The company specified that before the next production season, Poltavazernoprodukt specialists restored and repaired communications and water supply stations, cleaned water channels, graded the lines for sprinkler machines, serviced the sprinkler machines themselves, and concluded water supply contracts.
“Eight sprinkler machines are operating at full capacity, serviced by 14 hydraulic engineers in several shifts,” the company said.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine and the largest sugar producer in Ukraine.
It comprises six sugar factories, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Hlobyn (Poltava region), seven elevators, and a biogas complex.
In 2024, Astarta increased its net profit by 34.5% to EUR83.25 million, while its consolidated revenue decreased by 1.1% to EUR612.15 million.
In the first quarter of this year, the agricultural holding’s revenue fell by 24.9% to EUR124.58 million, while net profit fell by 28.8% to EUR6.42 million.
On June 12 this year, the shareholders’ meeting approved the payment of dividends for 2024 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the figures for the previous two years.
Astarta, Ukraine’s largest sugar producer, has 11% of its employees aged 60+ and is working to increase this ratio to 20%, said Viktor Ivanchyk, SEO and owner of the agricultural holding.
“Astarta companies employ 11% of people aged 60+. We are working to increase this ratio to 20%. I am confident that this 20% will play no less of a role than the other 80%,” he said at the presentation of the study ‘Active Longevity in Ukraine: A Study of the Current Status and Barriers’ in Kyiv on Tuesday.
Ivanchyk drew attention to the fact that one of the main sources of ageism in companies is young employees working in HR departments.
He expressed a wish that HR departments, the Presidential Office, and the Cabinet of Ministers would also take this important factor into account and urged them to hire and recommend experienced people for responsible positions.
As an illustrative example, he cited the plot of the movie “The Intern” with the main character played by Robert De Niro.
“There should be much more such interns at both the state and business levels,” the Astarta SEO is confident.
“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine, the largest sugar producer in Ukraine. It comprises six sugar refineries, 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 2024, Astarta increased its net profit by 34.5% to EUR83.25 million, while its consolidated revenue decreased by 1.1% to EUR612.15 million.
In the first quarter of this year, the agricultural holding’s revenue fell by 24.9% to EUR124.58 million, while net profit fell by 28.8% to EUR6.42 million.
On June 12 this year, the shareholders’ meeting approved the payment of dividends for 2024 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the previous two years.
Agroholding Astarta will pay dividends for 2024 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the previous two years.
The decision was made at the company’s annual general meeting on June 12, according to a statement on the Warsaw Stock Exchange.
The shareholders instructed the board of directors, which proposed the dividends, to determine the payment dates.
In addition, the meeting approved a new version of the company’s remuneration policy, which provides for a new long-term incentive (LTI) mechanism for the remuneration of executive management through the allocation or transfer of company shares to a special trust to be established by the board of directors for the benefit of such persons.
Astarta’s shareholders also approved the issue of new shares in the amount of up to 5% of its authorized capital without preemptive rights, provided that they are distributed solely for the purpose of implementing an employee incentive program, and delegated to the board of directors the authority to issue such shares.
According to information on the stock exchange, the largest shareholders of Astarta are currently Albacon Ventures Ltd, CEO Viktor Ivanchik – 41.4%, which held 53.3% of the votes at the meeting, as well as companies controlled by Fairfax Financial Holdings: Odyssey Reinsurance Company – 7.67%, HWIC Global Equity Fund – 7.29%, and United States Fire Insurance Company – 6.93%.
In addition, the company reported that on June 12, Ivanchik’s Albacon purchased another 5.28 thousand shares on the stock exchange at an average price of PLN59.97 ($14.04 at the current exchange rate) and increased its stake to 10 million 364.50 thousand shares.
As reported, Astarta paid EUR12.155 million in dividends for the first time in June 2021 based on its 2020 results, in the same amount as now – EUR0.5 per share. In the war-torn year of 2022, the company refused to pay dividends, but then paid them in 2023 and 2024.
Astarta shares fell by 1.2% on Friday, June 13, to PLN58.4 per share, while about a year ago, when the dividend decision was approved, the price was PLN29.25 (about EUR6.81) per share, and a year earlier – PLN32.80 (about EUR7.28) per share.
Agro-industrial holding Astarta, Ukraine’s largest sugar producer, increased its net profit by 34.5% to EUR83.25 million in 2024, while its consolidated revenue decreased by 1.1% to EUR612.15 million.
The family of Astarta CEO Viktor Ivanchik owned about 41.48% of the shares at the beginning of this year, having bought 1.22% last year. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of the shares belong to the company itself and were previously bought back.
Agro-industrial holding Astarta, Ukraine’s largest sugar producer, reduced its total revenue to EUR 125 million in January-April 2025, down 25% from the same period last year, due to lower sales prices for a number of products and lower sales volumes, the agro-holding’s press service reported.
“EBITDA amounted to EUR27 million compared to EUR29 million in the first quarter of 2024, while profitability by this indicator increased by 4 percentage points to 21%. Exports of products, amounting to EUR73 million, accounted for 59% of total revenue compared to 69% in the first quarter of 2024,” the company said in a report.
At the same time, revenue from the crop production segment decreased by 49% year-on-year to EUR 37 million due to lower sales volumes. Exports accounted for 71% of the segment’s revenue (-20 percentage points year-on-year).
At the same time, in mid-May, Astarta’s enterprises successfully completed the spring sowing campaign. The final crop structure for 2025 is as follows: sugar beet – 34 thousand hectares (-12% y/y), soybeans – 56 thousand hectares (-21% y/y), winter wheat – 46 thousand hectares (-5% y/y), sunflower – 29 thousand hectares (+57% y/y), rapeseed – 11 thousand hectares (-8% y/y), corn – 11 thousand hectares (-5% y/y). ha (−5% y/y), sunflower – 29 thousand ha (+57% y/y), rapeseed – 11 thousand ha (−8% y/y), corn – 14 thousand ha (almost three times more y/y), organic crops – 2 thousand ha (no change y/y).
Revenue from Astarta’s sugar segment decreased by 5% y-o-y to EUR41 million, due to a 12% y-o-y decline in sugar prices and slightly lower sales volumes of by-products. This was partially offset by an 11% y-o-y increase in sugar sales. Sugar exports accounted for 47% of the segment’s revenue (down 4 p.p. y-o-y).
In volume terms, the company’s sugar exports accounted for 46% of total sugar sales, or 36,000 tons (+9% y-o-y). Almost half of this volume was exported by sea. The main export destinations were Libya, Israel, and the UAE, according to the agricultural holding.
Soybean processing at Astarta remained at last year’s level of EUR29 million. Exports accounted for 92% of the total, compared with 88% in the first quarter of 2024. Soybean processing volume amounted to 63,000 tons (+3% y/y).
The agricultural holding’s livestock production in January-April 2025 increased its revenue by 26% y/y to EUR 17 million, which is explained by higher sales prices. Milk sales amounted to 31 thousand tons (+1% y/y). All products were sold on the domestic market. The average livestock population was 29 thousand heads (+6% y/y). Total milk production amounted to 32 thousand tons (+1% y/y).
In January-April of this year, Astarta continued to develop its ecosystem of responsible partnership, in particular the Common Help Ukraine project, established jointly with the Believe in Yourself charitable foundation. According to the agricultural holding, the total value of charitable and humanitarian aid since the launch of the project has exceeded EUR35.3 million.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It comprises six sugar factories, 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 region), seven elevators, and a biogas complex.
In the first nine months of 2024, Astarta increased its net profit by 35.1% compared to the same period in 2023, to EUR75.60 million. The agricultural holding’s revenue grew by 12.6% to EUR441.46 million, and EBITDA by 12.8% to $131.56 million.
Agro-industrial holding Astarta, Ukraine’s largest sugar producer, and the International Finance Corporation (IFC) have signed a $40 million loan agreement to build Ukraine’s first soy protein concentrate plant, the agro-industrial holding’s press service said on Facebook.
Astarta noted that this investment is part of a financing package of up to $80 million approved by the IFC Board of Directors on April 1, 2025.
It is noted that the funds are secured by guarantees from the European Commission under the Ukraine Investment Framework and the Dutch government in support of the IFC Economic Resilience Action (ERA) program. The investment will contribute to job creation, increased competitiveness of the agricultural sector, and export diversification.
“This investment is an example of how strategic international partnerships transform challenges into long-term opportunities for Ukraine. By launching the country’s first soy protein concentrate production facility, we are integrating our country into global food chains, promoting economic recovery, industrial modernization, and job creation. Astarta is implementing this project as part of its sustainable agribusiness development strategy,” emphasized Viktor Ivanchik, CEO and founder of the agricultural holding company.
Alfonso Garcia Mora, IFC Vice President for Europe, Latin America, and the Caribbean, expressed confidence that this investment will help Ukraine produce more high-value agricultural products and move up the value chain.
“By improving the competitiveness of the agricultural sector and its integration into European markets, we aim to support recovery, job creation, and resilience,” he said.
According to European Union Ambassador to Ukraine Katarina Mathernova, whose words are also quoted in the press release, Astarta’s new plant is an example of how joint efforts bring real results for Ukraine’s future.
In turn, the Ambassador of the Kingdom of the Netherlands to Ukraine, Alle Dorgaut, noted that the Netherlands is pleased to contribute to the construction of Ukraine’s first soy protein concentrate plant.
“The IFC Economic Resilience Action (ERA) program provides support to critical sectors during the Russian invasion, including agribusiness (…) IFC’s investments in Ukraine are crucial, especially in the context of war, to ensure the vital recovery of the Ukrainian economy. In this context, international financial institutions, including the IFC as part of the World Bank Group, play a key role,” he stressed.
Astarta added that, in partnership with the Czech government, the IFC will also support the agricultural holding in conducting market and marketing research in Ukraine and provide advice on supporting local communities, youth, and older workers, facilitating the reintegration of veterans.
As reported, on April 1, the IFC approved a project to provide Astarta with an $80 million financing package for the construction of a soy protein concentrate plant in the Poltava region. The package will consist of: (i) a Loan A of up to $50.7 million from the IFC’s own resources, (ii) a loan of up to $24.4 million from the IFC, acting as the implementing agency for the Economic Resilience Program for Ukraine (ERA) with support from the Netherlands, and (iii) a Loan B of up to $40 million to be provided to the participants, provided that the total amount of the loans does not exceed $80 million.
In 2024, Astarta began investing in the construction of a soybean meal processing plant with a capacity of 500 tons/day (approximately 100,000 tons/year) at the Globinsky Industrial Complex (Poltava region). The agricultural holding will invest over EUR 76 million in the purchase of equipment and technologies and create 110 new jobs.
Astarta and its structural unit Astarta Agro Protein signed the first investment agreement with the Ukrainian government to receive compensation from the state for significant investments. Under the agreement, the state will provide the agricultural holding with a number of incentives, including exemption from import duties on new equipment, import VAT on new equipment, and income tax for up to five years.
Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine and the largest sugar producer in Ukraine. It comprises six sugar factories, 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 region), seven elevators, and a biogas complex.
In the first nine months of 2024, Astarta increased its net profit by 35.1% compared to the same period in 2023, to EUR75.60 million. The agricultural holding’s revenue grew by 12.6% to EUR441.46 million, and EBITDA by 12.8% to $131.56 million.
The enterprises of Astarta, Ukraine’s largest sugar producer, have completed the spring sowing campaign on 146,000 hectares, responding quickly to the weather conditions of the season, the agricultural holding’s press service reported on Facebook.
“This year’s spring sowing took place under challenging weather conditions: abnormally high temperatures in March and frosts in April. Low soil moisture reserves after winter and their rapid decline due to early temperature rises forced the team to act quickly and in a coordinated manner. During a short “window” of favorable conditions, our divisions coordinated the entire complex of spring field work, completing sowing in the shortest possible time,” said Andriy Zagorulko, director of the crop production, logistics, and mechanization department of the agricultural holding.
Astarta noted that in the 2025 season, the crop structure will be as follows: sugar beets – 34,000 hectares, soybeans – 56,000 hectares, winter wheat – 46,000 hectares, sunflowers – 29,000 hectares, rapeseed – 11,000 hectares, corn – 14,000 hectares, and organic crops – 2,000 hectares.
Farmers are currently continuing to care for their crops, constantly monitoring their condition, moisture levels, and phytosanitary status. The production team is actively preparing for the start of the early grain harvest, which will begin in less than two months.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Hlobyn (Poltava region), seven elevators, and a biogas complex.
” In the first nine months of 2024, Astarta increased its net profit by 35.1% compared to the same period in 2023, to EUR75.60 million, revenue grew by 12.6% to EUR441.46 million, and EBITDA by 12.8% to $131.56 million.
