Agricultural holding for the first half of Astarta 2011 EBITDA increased by 40% - up to 750M USD
2011-08-01 15:59:15
Astarta B.V. for the first six months of 2011 increased EBIDA by 40% - up to 750M USD. This is stated in a report on the preliminary results of the company. Consolidated revenue grew by 25% - to 1,3Bn UAH .
"Dynamic growth in EBITDA contributed to increased profitability of sales, management's successful efforts to contain costs, as well as the positive effect from the revaluation of biological assets due to the expansion of cultivated areas, increased yields of major crops, as well as growth of assets of dairy farming.
At the end of June 2011 the total area of agricultural land in the long-term lease was about 230 thousand hectares. Current indicators confirm a preliminary forecast of the company that the crop this season is to exceed 500K tons of grain and oil and 2M tons of sugar beet.
"Astarta-Kyiv"is a vertically integrated agro-industrial holding, which comprises five regional offices located in Poltava, Vinnytsya and Khmelnitsky region. The products of agriholding are sugar and related products (molasses and dry granulated sugar beet pulp), grains and oilseeds, as well as meat and milk.