Key Highlights
• Consolidated revenues were EUR 126 million
• Export sales demonstrated an increase to 38% of total revenues
• Gross profit amounted to EUR 94 million, Gross profit margin improved by 10pp to 74%
• EBITDA was EUR 89 million, the EBITDA margin remained at 70% mark
Sugar
The sugar segment traditionally remained the largest contributor (47% of total revenues) and amounted to EUR 60 million. Volumes of sugar sales increased 2% y-o-y to 156 thousand tonnes. Sugar exports were at record 20 thousand tonnes.
Soybean Processing
Sales in the segment amounted to EUR 31 million (25% of total revenues). 100% of soy oil and 36% of soymeal were exported. During the reporting period the soybean processing plant has processed 107 thousand tonnes of soybeans. Meal and oil production increased 5% to 80 thousand tonnes and 19 thousand tonnes respectively.
Agriculture
Sales of agricultural segment amounted to EUR 21 million (17% of total revenues). In the beginning of August ASTARTA completed harvesting early grain crops. This year the harvested volume of early grain crops is 20% higher y-o-y and amounts nearly 270 thousand tonnes. The avarage yield of wheat is 10% higher y-o-y at 5.5 tonnes per ha.
Dairy Farming
The dairy segment generated EUR 12 million (9% of total revenues). Sales volumes increased 4% to 50 thousand tonnes while the milk price dropped 30%.
Comments of CEO, Viktor Ivanchyk
“When times are hard it is important to focus on meeting ongoing challenges and still keeping ones long-term strategic perspectives. As prices for most grains, milk and sugar are at years-low and macroeconomic environment remains fluctuant, we have to double our efforts towards higher efficiency and achieving lower cost of produce. At the same time, we think long-term and remain highly committed to our strategy of growth, diversification and leadership”.
source: astartaholding.com
• Consolidated revenues were EUR 126 million
• Export sales demonstrated an increase to 38% of total revenues
• Gross profit amounted to EUR 94 million, Gross profit margin improved by 10pp to 74%
• EBITDA was EUR 89 million, the EBITDA margin remained at 70% mark
Performance in Key Segments
Sugar
The sugar segment traditionally remained the largest contributor (47% of total revenues) and amounted to EUR 60 million. Volumes of sugar sales increased 2% y-o-y to 156 thousand tonnes. Sugar exports were at record 20 thousand tonnes.
Soybean Processing
Sales in the segment amounted to EUR 31 million (25% of total revenues). 100% of soy oil and 36% of soymeal were exported. During the reporting period the soybean processing plant has processed 107 thousand tonnes of soybeans. Meal and oil production increased 5% to 80 thousand tonnes and 19 thousand tonnes respectively.
Agriculture
Sales of agricultural segment amounted to EUR 21 million (17% of total revenues). In the beginning of August ASTARTA completed harvesting early grain crops. This year the harvested volume of early grain crops is 20% higher y-o-y and amounts nearly 270 thousand tonnes. The avarage yield of wheat is 10% higher y-o-y at 5.5 tonnes per ha.
Dairy Farming
The dairy segment generated EUR 12 million (9% of total revenues). Sales volumes increased 4% to 50 thousand tonnes while the milk price dropped 30%.
Comments of CEO, Viktor Ivanchyk
“When times are hard it is important to focus on meeting ongoing challenges and still keeping ones long-term strategic perspectives. As prices for most grains, milk and sugar are at years-low and macroeconomic environment remains fluctuant, we have to double our efforts towards higher efficiency and achieving lower cost of produce. At the same time, we think long-term and remain highly committed to our strategy of growth, diversification and leadership”.
source: astartaholding.com
