Astarta released 1H 2013 report
2013-08-22 16:57:44
According to the semiannual report released by Astarta, holding finished 6 months of 2013 with EUR 164 million, a 15% increase compared to EUR 142.5 million for the 1H 2012. Holding’s EBITDA grew from EUR 71.4 million in 1H 2012 to EUR 76.6 million in 1H 2013 with EBITDA margin declining from 50% in 2012 to 47% in 2013. Finally, gross profit fell from EUR 35 million to EUR 20.9 million in 1H 2013 compared to 1H of 2012.
Company's sugar sales grew by 31% with a 20% increase of exports and revenues from sales of sugar increased by 21%. Holding sales of agricultural products fell by 17% Exports combined 50% of agricultural products’ sales in 1H 2013. Holding is expecting a significant improvement of crop yields during the current season. Animal side of the business has indicated a revenue increase by 25% with milk sales revenues growing by 8%.
UkrAgroConsult comment: Astarta remains a leader of sugar industry in Ukraine in terms of volume produced. Company was one of the few that actually increased sugar production volume in 2012 as sugar prices were declining and many companies bailed the sector. The increase of sales revenue while declining gross profit indicated that company is investing in developing its operations, gradually increasing their scale.
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