ASTARTA N : published the report for nine months of 2022
November 09, 2022 at 01:21 pm EST
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Astarta, one of the largest agro-industrial holdings in Ukraine, continues its core operating and humanitarian activities, supporting food security of Ukraine. Despite the challenges caused by the full-scale russian invasion, the company's team manages to ensure the continuity of operational processes and stable supplies to domestic and foreign markets.
In 9M22, Astarta's revenue amounted to EUR 341 million, up by 13% y-o-y. The increase was due to revenue growth in agricultural production and soybean processing. Share of exports in total revenues increased from 41% to 50% y-o-y.
Agricultural production
Unlike in previous years, when the focus was on core operational processes such as harvesting and planting of winter crops, the main challenge of this season in agricultural production was the establishment of new logistics export routes. Astarta managed to quickly adapt to the current conditions using all available opportunities to generate sales. Revenue increased by 10% y-o-y to EUR104m, with agricultural exports accounting for 82% of the segment's revenue.
Sugar Segment
In 9M22, the team focused on securing all necessary energy and other resources and sugar sales in domestic and international markets. The segment's revenue remained stable at EUR108m. Having fully met the domestic demand, Astarta exported 11kt of sugar.
Soybean Processing
Ample soybean supply allowed the volume of soybean processed to increase by 38% y-o-y, to 151kt. Higher volumes of soybean processing and established logistics routes resulted in a 46% y-o-y revenue increase to EUR92m. Share of exports in the segment revenues totalled 85%.
Cattle Farming
In 9M22 milk production and sales were stable. Milk production increased by 4% y-o-y to 75kt. Revenue increased by 4% y-o-y to EUR29m on back of higher sales volumes in the domestic market.
"Astarta remains resilient in the high volatility environment and ensures uninterrupted supply of high-quality products to Ukrainian and foreign customers. Russia's massive missile attacks on Ukraine's critical infrastructure emphasized the importance of reducing energy dependence and the use of alternative energy sources to ensure the continuity of production process.
Astarta completed sowing of winter wheat on 43kha and winter rapeseed on 14kha. The harvesting campaign of oilseeds was also finished with sunflower harvest at 92kt, soybeans - 115kt and with yields of 3.0 t/ha and 2.9 t/ha, correspondingly. Corn harvesting is in progress - 12% of the total area under the crop demonstrate the yield of 9.2 t/ha. Sugar beet was harvested on 75% of the total area under the crop with an average yield of 53 t/ha. At the same time we expect the yield to increase to 55 t/ha by the end of the harvesting. Astarta's five sugar plants have already processed more than one million tonnes of sugar beet and produced more than 146kt of sugar." - saidViktor Ivanchyk, founder and CEO of Astarta.
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Astarta Holding NV published this content on 09 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2022 18:20:02 UTC.
Astarta Holding PLC is a Cyprus-based agriculture company, that specializes in sugar production, grain and oilseeds growing, soybean processing and cattle farming. The farmlands, sugar plants and cattle operations are mainly located in Ukraine. The Company's activities are divided into four main segments: Sugar Production, Agriculture, Soybean Processing, and Cattle Farming. Its Sugar Production segment is engaged in the production and wholesale of white and raw sugar and its by-products. The Agriculture segment is responsible for the cultivation and sale of crops, such as corn, wheat, sunseeds, rapeseeds, and others. The Soybean Processing segment is engaged in soybean and soybean meal and oil production and sale. The Cattle Farming Segment is engaged in dairy cattle raising and milk production and sale. Other Group operations mainly comprise the production and sales of fodder and gas.