Astarta Agro-Industrial Holding, the largest sugar producer in Ukraine, has completed the harvest of winter grains and pulses on an area of over 61 thousand hectares.
According to the press service of the agricultural holding on Facebook, the gross harvest exceeded grain and amounted to 302 thousand tons, including 260 thousand tons of winter wheat, 40 thousand tons of rapeseed and 2 thousand tons of winter peas.
According to the report, the abnormally hot and precipitation-free weather allowed for a quick harvest. This year’s harvest lasted 14-17 days (within the region), while last year’s harvest lasted 24 days.
The average yield of winter wheat in the agroholding was 5.3 tons/ha, and winter rapeseed – 3.4 tons/ha. The highest average yields of 6.3 tons/ha of winter wheat and 3.8 tons/ha of winter rapeseed were recorded in Khmelnytsky and Vinnytsia regions. The average yield of winter peas, a new crop for the company, was 3.5 tons/ha.
“The well-coordinated work of the team, stable communication in the fields (StarLink) and dispatching of the entire supply chain (AgriChain) made it possible to ensure the smooth running of all processes. In such unfavorable weather conditions, early winter rape and wheat varieties were more productive, while late hybrids were less productive. Winter peas also proved to be a good performer. In general, this year, as in the previous year, we focused on optimizing production costs, given the price environment. And I think we are succeeding,” said Roman Pavlyk, Head of Crop Production at Astarta-Kyiv.
At the end of this week, the agricultural holding plans to start harvesting soybeans and sunflower.
In 2023, Astarta Agro Holding, the largest sugar producer in Ukraine, 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.
Astarta CEO Viktor Ivanchik’s family currently owns 40.68% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of shares belong to the company itself and were previously bought back as part of a buyback.
On July 25-26, Viktor Ivanchyk, CEO of Astarta Agro Holding, bought about 0.069% of the holding’s shares on the Warsaw Stock Exchange (WSE) for a total of PLN516.56 thousand (about $131.5 thousand at the current exchange rate), bringing his stake to 40.757% of the issued shares.
According to information on the WSE website, Albacon Ventures Ltd. owned by Ivanczyk, acquired 17.65 thousand shares in about 200 transactions these days at prices ranging from PLN27.85 to PLN30.6 per share, with an average price of PLN29.77.
On Friday, Astarta’s share price fell more than the market – by 4.95% to PLN28.80 ($7.33 at the current exchange rate).
As reported, in December 2023, Ivanchik resumed buying shares on the stock exchange after a break that lasted since June. According to the annual report, over the past year, Ivanchyk acquired 0.26%, or 64.90 thousand shares, increasing his stake to 40.26%, or 10 million 64.90 thousand shares. By now, he has reached 10 million 189.25 thousand shares, in particular due to receiving 0.5%, or 124.755 thousand shares as remuneration this year.
The annual report noted that, in addition to Ivanchyk’s family, Fairfax Financial Holdings is also a major shareholder with 29.91%, and about 2% of the shares belong to the company itself and were previously bought back as part of a buyback.
“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.
In the first quarter of 2024, Astarta reduced its net profit by 44.1% year-on-year to EUR9.02 million, while its consolidated revenue increased by 1.4% to EUR165.78 million.
Astarta Agro-Industrial Holding, the largest sugar producer in Ukraine, supplied 1.26 million tons of agricultural products to foreign markets in the 2023-2024 marketing year, the company’s press service reported on Facebook.
According to the report, the agricultural holding exported 512 thousand tons of corn, 375 thousand tons of wheat, 140 thousand tons of sugar, 125 thousand tons of meal, 43 thousand tons of soybean oil, 45 thousand tons of rapeseed and other agricultural products.
The main consumers of corn were Spain, Egypt, Italy, and Ireland. Spain, Indonesia, Romania, Portugal, and Italy were the main consumers of wheat. Sugar was supplied to the markets of Europe, the Middle East and Africa. Meal and soybean oil were exported to Hungary, Poland, the UAE, Romania, and Saudi Arabia. The main consumers of organic products are Switzerland, the Czech Republic, France, and Germany.
In total, Astarta’s agricultural products were exported to 46 countries, the agricultural holding summarized.
In 2023, Astarta, the largest sugar producer in Ukraine, 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.
Astarta CEO Viktor Ivanchik’s family currently owns 40.68% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of shares belong to the company itself and were previously bought back as part of a buyback.
According to the National Bank of Ukraine, as of October 1, 2023, Credit Agricole Bank ranked 11th in terms of total assets (UAH 100.36 billion) among 63 operating banks in the country, with 141 branches. The bank is fully owned by French Credit Agricole SA.
In the second quarter of 2024, Astarta Agro Holding sold 141.9 thousand tons of sugar, up 106% year-on-year, and increased sugar sales by 77% to 211.4 thousand tons over two quarters.
According to the company’s announcement on the Warsaw Stock Exchange, the average sugar price in the second quarter decreased by 13% compared to the same period last year and by 10% over six months.
Astarta’s corn sales in the second quarter increased by 109% to 123 thousand tons, up from 58.8 thousand tons a year earlier. In the first half of the year, corn sales increased by 18% to 337.9 thsd tonnes.
At the same time, sales of sunflower seeds decreased by 98% to 705 thsd tonnes, while their selling price increased by 20%. In the first half of the year, sunflower sales decreased by 67% to 20.066 thsd tonnes, while prices were 20% lower than last year.
Sales of soybean oil in the second quarter decreased by 24% to 44.788 thousand tons, while prices also fell by 10%. Sales in the first half of 2024 increased by 21% year-on-year to 27.142 thousand tons, but prices were 15% lower.
In addition, in the second quarter, Astarta reduced sales of soybean flour by 24% to 44,788 thousand tons, while prices were 10% lower than last year. In the first half of 2024, they were 10% lower compared to the same period last year.
The agricultural holding’s sales of milk in the second quarter increased by 4% to 29.42 thousand tons, while the price of the product increased by 20%. Sales in the first half of 2024 increased by 5% to 60,013 thousand tons, prices – by 21%.
In 2023, Astarta, the largest sugar producer in Ukraine, 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.
Astarta CEO Viktor Ivanchik’s family currently owns 40.68% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of shares belong to the company itself and were previously bought back as part of a buyback.
According to the National Bank of Ukraine, as of October 1, 2023, Credit Agricole Bank ranked 11th in terms of total assets (UAH 100.36 billion) among 63 operating banks in the country, with 141 branches. The bank is fully owned by French Credit Agricole SA.
Astarta Agro Holding has started the harvesting campaign, during which it plans to harvest early grain crops from an area of 61 thousand hectares, including winter wheat from 49 thousand hectares, the company’s press service reported on Facebook.
“Today we started threshing rapeseed. The work started in Poltava region. It is an ultra-early date – ahead of the average long-term calendar indicators – but the harvesting dates are predictable. We also plan to start harvesting wheat at the end of this week. Companies in the western region plan to start harvesting no earlier than July 7-9. Currently, we see the biggest challenges in ensuring the continuity of all harvesting stages in the context of simultaneous harvesting of several crops due to constant air raids and power outages,” said Roman Pavlyk, Head of Crop Production at the agricultural holding.
The agroholding’s farmers have also completed harvesting winter peas from an area of 599 hectares. This is a new crop for Astarta with ultra-early harvesting dates.
“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 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.
In the first quarter of 2024, Astarta reduced its net profit by 44.1% year-on-year to EUR9.02 million, while its consolidated revenue increased by 1.4% to EUR165.78 million.
Astarta Agro Holding will pay dividends for 2023 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the previous year.
As stated in the company’s announcement on the Warsaw Stock Exchange, this decision was made by the shareholders’ meeting on June 4 this year, instructing the board of directors to determine the dates of payment.
As reported, Astarta first paid EUR12.155 million in dividends in June 2021 based on the results of 2020 in the same amount as proposed now – EUR0.5 per share. In the military year of 2022, the company refused to pay them, and then paid them in 2023.
Astarta’s shares are currently quoted at PLN29.25 per share (about EUR6.81 per share), while about a year ago, when the dividend decision was approved, the rate was PLN32.80 per share (about EUR7.28 per share).
In 2023, Astarta, the largest sugar producer in Ukraine, 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.
Astarta CEO Viktor Ivanchik’s family currently owns 40.68% of the company. Fairfax Financial Holdings is also a major shareholder with 29.91%, and another 2.12% of shares belong to the company itself and were previously bought back as part of a buyback.
