Astarta in the first quarter of 2019 received a net loss of EUR4.43 million compared to a net profit of EUR3.7 million in the first quarter of last year, linking the deterioration of financial indicators with unfavorable sugar market conditions and higher financial expenses.
According to a company report on the Warsaw Stock Exchange, its revenue, due to good results of soybeans processing and crop production, rose by 27.8% compared to January-March 2018, to EUR115.79 million, and EBITDA by 2%, to EUR13.61 million.
Astarta’s net debt declined slightly in the first quarter, from EUR295.45 million to EUR292.99 million, which, however, was significantly more than a year before, EUR201.5 million.
Mainly due to low prices for sugar and other commodities, Astarta broke a number of financial covenants on bank loans at the end of the first quarter, and therefore reclassified loans worth EUR121 million as current ones, but the management expects that lenders will not require early repayment.
According to the report, the investment program of the company for 2019 will be limited by capital expenditures for maintenance, completion of the program of elevators infrastructure and the acquisition of grain wagons.
The partners of Concorde Capital investment company in the transaction for the purchase of assets of HeidelbergCement Ukraine were Vice President of PJSC Galnaftogaz Concern Vasyl Danyliak, as well as businessmen Ivan Shestak and Ihor Zavinovsky.
“The development of companies acquired from HeidelbergCement will be carried out by Ihor Mazepa together with the partners Ivan Shestak, Vasyl Danyliak, and Ihor Zavinovsky,” the press service of Concorde Capital told Interfax-Ukraine.
According to the decision of the supervisory board of PrJSC HeidelbergCement Ukraine, at the end of April Zavinovsky was elected head of the company for a term of three years. According to the report in the information disclosure system of the National Commission on Securities and the Stock Market, in the past five years he has held the post OF Commercial director of New Geodetic Technologies LLC, and does not own shares in HeidelbergCement Ukraine.
As reported, on May 14, 2019 Cyprus-based Overin Limited, associated with Concorde Capital, became the owner of a controlling stake (99.8308%) in PrJSC HeidelbergCement Ukraine.
Milk production in Ukraine in January-April 2019 decreased by 2.3% compared with January-April 2018, to 2.769 million tonnes.
According to the State Statistics Service, meat (live weight) production in the country was 1.138 million tonnes, which is 5% more than in January-April 2018.
Egg production increased by 7.3%, to 5.344 billion pieces.