Astarta-Kyiv stood a EUR 4.43 million of net loss in Q1 2019

The agri-industrial holding Astarta-Kyiv stood EUR 4.43 million of net losses in Q1 2019 compared to EUR 3.7 million of net profit a year ago, the WSE reports.

"For the three months ending 31 March 2019, the company’s revenues increased to EUR 116 million, or by 28 per cent y-o-y due to solid performance by the agricultural and the soybean processing segments," the company noted.

Considering the unfavourable market environment, Astarta focused on sales of grains rather than on sugar resulting in 42 per cent y-o-y contraction in sugar sales volumes to 54 thou. tons in Q1 2019.

EBITDA increased 2 per cent y-o-y to EUR 14 million. Cash flow from operating activities grew by 87 per cent y-o-y to EUR 40 million.

Earlier it was reported that Astarta-Kyiv had cut sunflower sales by 42 per cent to 11.83 thou. tons in Q1 2019.