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Astarta made a significant reduction in net profit in 9M 2018
8 November 2018, 09:27
The agri-industrial holding Astarta-Kyiv reduced its net profit to EUR 14.5 million or by 80% y-o-y.
EBITDA amounted to EUR 68 million (-39% y-o-y) on the back of depressed margins caused by global surpluses and low commodity prices. Net debt (net of IFRS 16) stood at EUR 191 million as of 30 September 2018.
Following the lower sales volumes and prices for sugar, the Group’s revenues corrected 27% to EUR 253.5 million. The sugar segment’s share in consolidated revenues is 38%.
Previously it was reported that the three largest holdings-exporters of sugar in Ukraine held 70% of the market.
