Astarta continues to report publicly on its achievements and results. Due to its team’s well-coordinated and efficient work, the Company’s key financial indicators for the first quarter of 2023 were the best for the previous five similar reporting periods.
Astarta’s revenues increased by 37% y-o-y to EUR164m, following a better performance in all business segments. Export revenue increased to EUR98m, representing 60% of consolidated revenues.
Agriculture
In 1Q23 the Company’s segment revenue increased by 28% y-o-y to EUR80m, mainly on higher sales volumes. Exports contributed 84% of the segment revenues.
Meanwhile, Astarta continues its spring planting in all seven regions of its operations. The rainy and cold weather slowed it down but was favourable for the winter crop development.
The Company revised its crop rotation in 2023. The area under winter crops totalled 57kha, including 43kha under wheat and 14kha under rapeseeds. Corn and sunseeds’ acreage is planned at 19kha and 28kha, respectively. The area under soybeans will expand to 56kha to maximize the in-house crop supply for the processing plant.
The sowing of sugar beets has already been completed, and the area totalled 39kha, up by 20% y-o-y. The area under organic crops remains unchanged at 2kha.
Sugar Production
1Q23 revenues totalled EUR37m, up by 86% y-o-y on higher sugar sales volumes. Exports contributed 15% of segment revenues in 1Q23.
Soybean Processing
Revenues increased by 20% y-o-y to EUR31m amid higher oil and meal sales volumes. Exports contributed 84% of revenues.
Cattle Farming
Higher average daily milk yields and herd size lead to a 17% growth in milk production to 30kt in the reporting period. The segment’s revenue increased by 8% y-o-y to EUR11m.
Humanitarian Activities
Astarta continues to contribute towards Ukraine’s Victory. To date, 831 thousand Ukrainians have been affected by Russian aggression, and 500 medical and social institutions in Ukraine have received assistance under the Common Help UA humanitarian project.
To current and future challenges, special attention is paid to developing small and medium-sized businesses in the regions of the Company’s operation. As of today, Astarta and its partners have provided grants to 155 entrepreneurs setting up their businesses, creating 195 jobs and donating part of their production towards the needs of temporarily displaced Ukrainians.
The Astarta team considers such initiatives as the beginning of a popular entrepreneurial movement which, together with big businesses, will become the economic foundation for Ukraine’s recovery after the Victory.