Astarta-Kyiv increased revenues by 42%
Revenues of agri-industrial holding Astarta-Kyiv increased by 24% to EUR 459 million, the company reports.
Exports grew to 59% of revenues (2016: 51%). EBITDA corrected by 21% to EUR 120 million and net profit by 25% to EUR 62 million.
Net debt of the company reduced 11% y-o-y to EUR 130 million.
EUR 78 million were invested into extending the network of grain storages, developing the agricultural machinery fleet and facilities, and uprating the processing plants.
"The year 2017, was the next milestone to build up our company and prove its ability to operate in a volatile external environment. We see both challenges and great opportunities for our business. And we are deeply convinced that Astarta is capable to achieve ambitious goals in this new stage of its development, based on its openness and experience, dedication of employees, and the support of our shareholders and partners," commented Viktor Ivanchyk, CEO of the company.
Reference: the International Finance Corporation (IFC) considers provision a long-term loan of up to USD 30 million to Astarta-Kyiv. Loans are provided to introduce the highest available technologies and standards at enterprises of the agri-industrial holding in order to improve the use of resources. In addition, part of the finance can be directed to the development of livestock, as well as to trade in grain and oilseeds.