According to the preliminary report released by the company, Astarta finished 2012 with overall positive results. Sugar sales of the company grew by 33%, with 29% increase in milk sales and 18% increase in sales of seeds. Consolidated revenues of the company grew by 16% to EUR 352 M, gross profit equaled to EUR 80 M and EBITDA amounted to EUR 75 M.

Despite overall decrease of sugar prices and quick retaliation of several holdings from sugar industry in 2012, Astarta went the opposite route and increased sugar beet production by 25% compared to 2011, reaching 2.6 million tons level. Sugar production level amounted to 430 thousand tons, or a 15% increase yoy. Company’s market share on domestic market grew to 19.3%, effectively remaining the leader on the market. Grains and oilseeds production totaled to approximately 600 thousand tons. Revenues from agricultural sector improved by 27% with 53% of agricultural crops exported, comprising a whopping 118% increase in exports volume by the company. Revenues segment within the milk market grew by 15% with a 12% yield per cow increase and expansion of the herd.

AgroInvest comment: Despite challenges that company faced in every one of its operational segments: draught, declining sugar prices and trade restrictions from Russia, company’s effective strategic approach, consistency and efficient managerial procedures have shown their results in respective numbers in the financial statements. In case the trend continues, we foresee further growth and development of this business entity.   

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UkrAgroConsult