ASTARTA published interim report for the first siх months of 2017

ASTARTA published interim report for the first siх months of 2017

Key Highlights

• Consolidated revenues grew by 69% to EUR 250 million
• Exports сontributed 61% of revenues
• was EUR 96 million (-12 y-o-y)
• Net profit stood at EUR 73 million (-4% y-o-y)
• Cash flow from operations increased by 23% to EUR 66 million
• Net debt reduced y-o-y by 31% to EUR 99 million
• Financial expences reduced by 78% to EUR 4.3 million

Performance in Key Segments

Sugar production

The sugar segment generated revenues of EUR 108 million, which is almost 80% higher y-o-y. Sugar sales volumes increased by 58% to about 223,000 tons. The Company continued its strategy of export expansion and delivered 57% of sugar sold to the global markets. Overall sugar exports of white sugar from Ukraine in the 2016/2017 marketing year reached 750,000 tons, thus putting the country in the second position (after the EU) among top-exporters of beet sugar globally.

Agriculture

Revenue of the farming segment increased by 130% y-o-y to EUR 80 million. The growth was mainly attributable to extended sales volumes of over 494,000 tons (+146% y-o-y). Exports generated 91% of the segment’s revenues. By mid-August, ASTARTA’s subsidiaries completed the harvesting of early grains. The average yield of wheat was at 5.1 tons per ha as a dry weather affected fields in the central and southern parts of Ukraine. At the same time, farm units in western part of Ukraine harvested on average over 6,4 tons per ha.

Soybean processing

The segment generated the revenue of EUR 43 million, which is 12% higher y-o-y. Exports contributed 87% to the segment’s sales. ASTARTA remains the leader among soy-crushers in Ukraine, producing 22% of national output of soymeal and oil.

Dairy Farming

The segment’s revenue amounted to EUR 15 million, which is 28% higher y-o-y. As of the end of this reporting period, the total headcount was around 30 000 head, while the milking cow headcount was over 15 400 heads. Milk sales remained flat at 52,000 tons.

IC UAC according to ASTARTA-KIEV