30 August 2023, 10:04, Ukraine

Astarta-Kyiv generates 32% more YoY consolidated revenues in 1H23

Astarta’s 1H23 consolidated revenues totalled EUR 287 mln increasing by 32% YoY driven by better performance by all business segments, the company's report reads.

The Agricultural segment generated EUR 101 mln in 1H23, up by 31% YoY, accounting for 35% of the total consolidated revenues. Sugar Production grew by 39% YoY to EUR 86 mln. The Soybean Processing segment registered EUR 71 mln in revenues, up by 35% YoY. The Cattle Farming segment revenues were stable at EUR 21 mln vs. EUR 20 mln in 1H22.

Exports grew by 49% y-o-y to EUR158m contributing 55% of Astarta’s total revenue.

Gross profit came in at EUR 126 mln, 67% higher YoY, with gross margin widening from 35% to 44% in 1H23 reflecting lower volumes of third-party grains and oilseeds trading.

EBITDA increased by 43% YoY to EUR 97 mln in 1H23. The EBITDA margin expanded from 31% in 1H22 to 34% leading to net profit margin growth from 13% in 1H22 to 19% in 1H23.