Agroholding Astarta, Ukraine’s largest sugar producer, processed 123,000 tons of soybeans in January-June 2025, which is in line with last year’s figure, according to the agricultural holding’s report published on the Warsaw Stock Exchange on Friday.
According to the published data, the segment’s revenue in the first half of 2025 decreased by 6% year-on-year to EUR 55 million, with exports accounting for 91% (+5 p.p. year-on-year) of this revenue.
Gross profit in the soybean processing segment decreased by 41% year-on-year to EUR12 million. Gross profit margin was 21% in the first half of 2025, compared to 33% in the first half of 2024, which Astarta explained by an increase in the cost of sales. EBITDA for the first half of 2025 amounted to EUR7 million (-58% year-on-year), while EBITDA margin decreased from 28% to 13% in the first half of 2025.
According to the agricultural holding, the implementation of the investment project to build a soy protein concentrate production plant is proceeding according to schedule. Production is scheduled to start in 2026.
Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine and is 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, increased its average cattle herd to 29,000 head (+4%) in January-June 2025.
According to data published by the holding company on the Warsaw Stock Exchange, in the first half of this year, Astarta increased milk yield per cow by 3% to 28 kg/day, which led to a 2% increase in milk production to 63,000 tons.
Revenue in the segment grew by 17% to EUR29 million due to an 11% increase in prices and a 2% increase in sales volumes.
Gross profit decreased by 11% compared to the same period last year to EUR13 million, reflecting higher costs and a revaluation of BA during Q1 2025. Gross margin decreased from 57% to 43% in the first half of 2025.
EBITDA amounted to EUR12 million compared to EUR15 million in the first half of 2024.
The agricultural holding estimated its share in milk production in Ukraine at 3%.
Astarta is a vertically integrated agricultural 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.
Astarta, Ukraine’s largest sugar producer, reduced sugar sales by 29% in January-June 2025, the agricultural holding’s press service reported.
Astarta noted that in the first half of 2025, the segment’s revenue amounted to EUR79 million, which is 38% less than in the same period last year.
This was caused by an 11% drop in sugar prices and a 29% decrease in sales volumes, the agricultural holding explained.
According to the report, sugar exports accounted for 47% of the segment’s revenue, compared to 58% in the first half of 2024. The main export destinations were Libya, Macedonia, and Israel. Astarta’s share in Ukraine’s sugar exports was 24%.
Astarta’s team is currently actively preparing for the sugar beet harvest and processing season.
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 Hlobine (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 completed its early grain and oilseed harvest, yielding 237,000 tons of wheat (-9% y/y) and 31,000 tons of rapeseed (-23% y/y), according to the press service of the agricultural holding.
Astarta noted that wheat yields were 5.2 tons/ha (-3% y/y) and rapeseed yields were 2.7 tons/ha (-20% y/y).
“The current season was characterized by a number of climatic challenges: a lack of precipitation over most of the territory, spring frosts, local hailstorms, and prolonged rains in the western regions, which affected the pace of crop ripening and harvesting. At the same time, thanks to effective planning, the prompt deployment of equipment, and the coordinated work of Astarta’s agronomic and production teams, the company ensured timely and high-quality harvesting,” the agricultural holding said.
The highest results were achieved by agricultural companies in western Ukraine: Zhitnytsia Podillya with a wheat yield of 7.4 t/ha and Volochysk-Agro with a rapeseed yield of 3.1 t/ha. Astarta has now begun harvesting late crops.
At the same time, Astarta’s farmers are sowing winter crops for the 2026 harvest. The planned areas are 44,000 ha for winter wheat (-3% y/y) and 16,000 ha for winter rapeseed (+45% y/y).
According to the results of the first half of 2025, revenue in the segment amounted to EUR61 million (-38% y/y) amid a decline in sales volumes compared to last year’s harvest. Exports accounted for 83% of the segment’s revenue (compared to 93% in the first half of 2024),” the agricultural holding summarized.
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 corresponds to the figures for the previous two years.
Agro-industrial holding Astarta, Ukraine’s largest sugar producer, reduced its revenue from sales of key products by 14.6% in January-June 2025 compared to the same period in 2024: growth in milk sales did not offset the decline in sales across all other product groups.
According to data published by the holding company on the Warsaw Stock Exchange, in January-June 2025, the company sold a total of UAH 9.11 billion worth of its main products, compared to UAH 10.67 billion in the first half of 2024.
In particular, sugar sales in the first half of 2025 decreased by 29% in real terms compared to the same period in 2024, to 149,425 thousand tons, while the average selling price decreased by 5% to UAH 23,503 thousand (hereinafter per ton).
Astarta’s wheat sales in the first half of the year decreased by 92% to 80.33 thousand tons, while the average price increased by 4% to 8.822 thousand UAH.
Astarta did not sell any rapeseed in January-June 2025, although last year during the same period, 20.32 thousand tons were sold at a price of 18.52 thousand UAH.
Corn sales in the first half of the year decreased by 55% to 151.48 thousand tons, with a 20% increase in price to 9.722 thousand UAH.
In addition, Astarta reduced sales of sunflower seeds in January-March by 20% to 15,965 tons, while their selling price increased by 117% to UAH 28,697.
Sales of soybean oil in the first half of the year decreased by 13% to 23.72 thousand tons, while the price of the product also increased by 46% to UAH 44.7 thousand. Sales of soybean meal remained similar to the previous year at 87.76 thousand tons, while prices fell by 14% over the year to UAH 15.65 thousand.
The agricultural holding’s milk sales in January-June 2025 increased by 2% to 60.95 thousand tons, while the price of the product increased by 19% to UAH 19.28 thousand.
Overall, Astarta reduced sales of its main products by 11% in January-June: the decline in sales of wheat, corn, sunflower seeds, and soybean oil was partially offset by higher prices. The milk segment continues to show positive dynamics, with both sales volumes and product prices on the rise.
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.
