In the third quarter, Astarta’s team traditionally focuses on harvesting late crops and sugar beets, their processing and sowing winter crops for the next year’s harvest. At the same time, the company actively continues commercial activities, selling its products on domestic and foreign markets.
Astarta’s 9M23 consolidated revenues totalled EUR392m, increasing by 15% y-o-y on higher sales across the board. Exports grew by 4% y-o-y to EUR179m, contributing 46% of Astarta’s total revenues.
Agriculture
Nine months’ revenues increased by 10% y-o-y to EUR114m, despite lower average selling prices, as higher sales volumes partially offset price declines. Exports contributed 70% of the segment’s revenues.
In October, Astarta completed winter crop planting for the 2024 harvest. This year the share of winter crops is 29% of the total crop area. Winter wheat was sown on 49kha (+14% y-o-y) and winter rapeseeds on 12kha (-12% y-o-y). The condition of winter crops estimated as good.
Oilseeds’ harvesting completed with sunseeds output of 83kt, yielding 3.0t/ha (flat y-o-y), soybeans at 169kt, yielding 3.1t/ha (+6% y-o-y).
To-date corn and sugar beets harvesting is 2/3 complete.
Sugar Production
The sugar production segment showed a robust performance in 9M23, with revenues boosted by 32% y-o-y to EUR142m, on combination of 24% y-o-y higher sugar sales volumes of 203kt and an 8% y-o-y higher selling price of EUR684/t. Exports of sugar and sugar-by products contributed 17% of the segment revenues in 9M23 vs 7% during 9M22.
Astarta’s 2023/24 sugar processing season started on September 12th. Five sugar plants are in operation.
As of November 8th, the company’s sugar plants had processed 1.3mt of sugar beets and produced 171kt of white sugar, vs 146kt as of the same date in 2022.
Soybean Production
During 9M23, Astarta increased volumes of soybeans processed by 11% y-o-y to 167kt, leading to soybean meal and oil output growth by 13% and 12% y-o-y, correspondently.
Revenues were flat y-o-y at EUR93m. Exports contributed 81% of revenues.
Cattle Farming
Revenues increased by 6% y-o-y at EUR30m in 9M23.
The average herd stood at 25k heads (+10% y-o-y). Milk sales volume grew by 16% y-o-y to 83kt in 9M23.
Humanitarian Activities
Astarta continues to make every effort to bringing Ukraine’s Victory closer. During the full-scale war, 831k Ukrainians and 500 medical and social institutions of Ukraine received assistance under the Common Help Ukraine humanitarian project. The project brought together 35 Ukrainian and international partners. To-date the estimated financial value of the project’s charitable contributions and humanitarian aid exceeded EUR22.5m.
Responding to current and future challenges, including the rapid recovery of the local communities from the consequences of the war, the company focuses on developing and supporting entrepreneurship in the regions of its presence. To-date, thanks to Astarta and its partners, 209 entrepreneurs have received grants to develop their businesses, created 528 new jobs, and some of their produce is donated to the needs of temporarily displaced Ukrainians.