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.
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.
