Astarta (Astarta Holding PLC), 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.” – said Viktor Ivanchyk, founder and CEO of Astarta.
Link: 9M22 report