Astarta continues to publicly report on its achievements and financial results. The Company’s 1H24 consolidated revenues grew by 12% y-o-y to EUR321m. Export sales increased to 67% of consolidated revenues or EUR215m in 1H24 vs 55% in 1H23.
Agricultural Production
The abnormally hot and and rain-free weather prompted to harvest the winter crops quickly and affected their yields. The total gross harvest of spring crops exceeds 302kt, including 260kt of winter wheat, 40kt of winter rapeseeds.The average winter wheat yield amounted to 5.3 t/ha (-16% y-o-y) and winter rapeseed yield – to 3.4 t/ha (-17% y-o-y).
Revenues stood at EUR99m (-2% y-o-y) amid weaker prices partly offset by higher sales volumes. Exports generated robust 93% of the segment revenues in 1H24 (+18pp y-o-y).
Sugar Production
On August 20 the Company started sugar beet harvesting. And on August 24 the 25th sugar production season in Astarta’s history began. In total, five sugar plants will operate during this production season.
Revenues grew by 48% y-o-y to EUR128m amid surge in sugar sales volumes. Sugar exports accounted for 58% of the segment’s revenues vs 27% in 1H23.
By volume Astarta’s sugar exports totaled 117kt in 1H24, a four-fold increase y-o-y. In 1H24 Astarta’s top exporting regions were the EU and MENA.
Soybean Processing
1H24 soybean crushing volume stood at 122kt (-2% y-o-y). Share of in-house crop was 90% vs 34% in 1H23.
Revenues were down by 18% y-o-y to EUR58m on lower sales prices of soybean products. Exports contributed 86% of segment revenues with the EU countries being the main customers.
Livestock Production
Average herd increased to 28k heads in 1H24 (+11% y-o-y). Unit milk yield improved by 3% y-o-y to 28kg/day bringing output to 62kt of milk (+5% y-o-y) in 1H24.
1H24 revenues up by 20% y-o-y to EUR25m on both higher sales volumes and prices generating 51% higher y-o-y. 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 Ukrainian citizens’ resilience to bring the Victory and swift economic recovery afterwards.
This approach is supported with an estimated financial value of charitable contributions and humanitarian aid since the launch of the humanitarian project “Common Help Ukraine” exceeding EUR31.7m.
Astarta actively supports Ukrainian citizens’ 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. Four hundred forty-three entrepreneurs have received grants to develop their businesses and created 853 new jobs.
Another part is the Resilience Centres, which the Company and the Ministry of Social Policy of Ukraine started developing in 2023. The main goal is to increase community residents’ self-reliance and mutual assistance. Astarta, as a strategic partner of the project, provides methodological, expert, and financial assistance. In total, the company has already spent more than UAH14m in a comprehensive study of the needs of various stakeholder groups, the development of a model for community capacity building and a social impact assessment model, strategic communications, training of centre specialists, and the opening of twelve centres.
According to the Ministry of Social Policy, tens of thousands of Ukrainians have already received support from the Resilience Centres. The Ministry plans to increase the number of Resilience Centres to 200 in 2024 and double in 2025. The Resilience Centres are part of the First Lady of Ukraine’s project ‘How are you?’.