Astarta continues to publicly report on its achievements and financial results. In the third quarter, Astarta’s team traditionally focuses on harvesting and processing of late crops, and sowing winter crops for the next year’s season. At the same time, the Company actively pursues commercial activities, selling its products on domestic and foreign markets.
Astarta’s 9M24 consolidated revenues increased by 13% y-o-y to EUR441m. Export share at 64% of consolidated revenues or EUR283m vs 46% for 9M23.
Agriculture
Autumn sowing of winter crops for 2025 harvest complete. Winter wheat acreage was reduced by 5% y-o-y to 46kha. Rapeseeds plantings expanded to 18kha (+49% y-o-y).
As of the reporting date, late crops harvesting complete, with sugar beet harvest being at the final stages. Oilseeds’ yields affected by dry and hot summer.
Sunseeds production at 46kt, down 45% y-o-y on 16% y-o-y lower yields of 2.5t/ha. Soybeans harvest stable y-o-y at 168kt, yielding 2.4t/ha (-22% y-o-y). Corn yield fell by 26% y-o-y to 7.6t/ha, corresponding to 40kt on lower acreage.
Revenues up by 28% y-o-y at EUR146m on higher sales volumes of key crops, including trading in third party grains (1/3 of sales volumes correspond to proprietary trading) and prices of wheat and rapeseeds. Exports accounted for 92% of the segment revenues vs 70% for 9M23.
Sugar Production
As of September 20th, the Company’s five sugar plants have processed 1.8mt of sugar beets and produced 271kt of white sugar vs 218kt as of the same date in 2023.
Revenues grew by 19% y-o-y to EUR169m for 9M24. Exports accounted for 50% of the segment’s revenues vs 17% for 9M23.
A 43% y-o-y surge in sugar sales volumes to 289kt for 9M24 offset lower sugar price. By volume Astarta’s white sugar exports totalled 140kt for 9M24 or 48% of all sugar sales, a 5x increase y-o-y benefiting from exports to the EU and MENA countries.
Soybean Production
9M24 soybean crushing volume stood at 163kt (-3% y-o-y).
Revenues down by 17% y-o-y to EUR77m on lower realized prices of soybean products. Share of exports in segment revenues was 85%, with the EU being traditionally the main market.
Cattle Farming
Revenues 22% up y-o-y to EUR37m driven by higher sales volumes and realized prices. Gross profit at EUR21m (+19% y-o-y). Gross margin declined by 1pp y-o-y to 56% on 12% higher y-o-y cost of revenues and lower BA revaluation. EBITDA increased by 20% y-o-y to EUR21m, EBITDA margin down 1pp y-o-y to 55% for 9M24.
Astarta’s average herd stood at 28k heads (+10% y-o-y). Unit milk yield further improved by 2% y-o-y to 26.3kg/day. Milk production increased by 4% y-o-y to 89kt for 9M24. The Company sells all its milk domestically and is Ukraine’s largest industrial milk producer.
Responsible Partnership Ecosystem (social impact projects)
Astarta’s business philosophy is based on sustainable development, partnership, and responsibility principles. The Company’s team creates an ecosystem of responsible partnerships that combines the resources, capabilities, and efforts of Ukrainian businesses and proactive members of society, as well as international partners, including foreign governments, embassies, and overseas businesses. The goal is to foster Ukrainians’ resilience.
This approach is proven in making with an estimated financial value of charitable contributions and humanitarian aid since the launch of the humanitarian project “Common Help Ukraine” exceeding EUR32.6m.
Astarta actively supports Ukrainians’ efforts to protect Ukraine’s independence and territorial integrity. It also develops regional entrepreneurship with the governments of Germany and Canada, the German bank DEG, Raiffeisen Bank Aval JSC, Vodafone, and Pact Ukraine. Three hundred thirty-six entrepreneurs have received grants to build businesses and created 853 new jobs.
Another part of the Resilience Programme is the Resilience Centres, which the company, together with the Ministry of Social Policy of Ukraine and partners, launched in 2023. The main goal is to increase the self-reliance and mutual assistance of community residents. Astarta, as a strategic partner of the project, provides methodological, expert, and financial assistance.