Astarta-Kyiv net profit dropped 4x in 1H 2020

Astarta-Kyiv agri-industrial holding net profit for 1H 2020 totalled EUR 7.37 mln, 75% less YoY (1H 2019: EUR 29.4 mln).

Under the company's report, consolidated revenue dropped to EUR 172.13 mln, 24% lower YoY (1H 2019: EUR 225.18 mln). Segments revenues:

• agriculture: fell by 47% to EUR 54.47 mln
• soybean processing: reduced by 12% to EUR 40.42 mln
• sugar: increased by 3% to EUR 56.8 mln
• dairy farming: improved by 8% to EUR 18.08 mln

The gross profit dropped by 8% to EUR 64.9 mln corresponding to the gross profit margin of 38% (versus 31% in 1H 2019).

Related: Astarta-Kyiv. Sugarless

EBITDA in the reporting period regressed 4% from EUR 69.32 mln in 1H 2019 to EUR 66.59 mln. Segments EBITDA:

• agriculture: down 8% to EUR 52.85 mln
• sugar: doubled and reached EUR 8.11 mln
• soybean processing: went down by 28% to EUR 3.63 mln
• dairy farming: increased by 13% to EUR 3.9 mln

As of August 12, the company's branches completed early grains harvesting. Winter wheat new harvest reached 230 thou. t using the average yield of 4.8 t/ha, 6% higher YoY (5.1 t/ha), winter rapeseed production totalled 4 thou. t yielding 2.6 t/ha on average (last year this crop was not cultivated).

Earlier it was reported that agricultural commodities sales by Astarta-Kyiv dropped in 1H 2020. Wheat sales decreased by 73% from 16.64 thou. t in 1H 2019 to 4.43 thou. t in 1H 2020.