Astarta's revenue and EBITDA have the potential for improvement — Paraschiy

Concorde Capital's analysts estimate that Astarta-Kyiv’s revenue will be reported at EUR 258 mln in 9M18 (down 26% YoY), while its EBITDA will be about EUR 75 mln (down 33% YoY), based on the published operating data.

"That should be some improvement compared to its 1H18 results, in which revenue fell 30% YoY and EBITDA decreased 38% YoY. There is also the potential for a positive surprise in terms of EBITDA, in case the company’s harvest of late crops exceeds significantly its previous estimates," comments Alexander Paraschiy, Head of Research at Concorde Capital.

The expert considers this year to be significantly worse for Astarta’s P&L, largely due to a smaller amount of crop sales and weaker sugar prices.

"In the next year, we expect some improvement in revenue and EBITDA due to the better performance of its crop segment," he adds.

Earlier it was reported that Astarta-Kyiv cut soybean oil sales by 55% in 3Q2018.