Astarta shares grow despite 9-month financial results falling well below expectations

Despite Astarta’s financial results for the first nine months of 2025 being significantly weaker than expected, the company’s share price on the Warsaw Stock Exchange increased by 5.9% over the past week, supported by overall positive sentiment on global equity markets. Poland’s WIG20 index gained 2.8% over the week, while the MSCI Global index jumped 3.5%, Eavex Capital reports.

Astarta posted a net profit of €44 million for the first nine months of the year, 42% lower compared with the same period of last year. The company’s revenue fell 22% to €343 million, mainly due to a 36% decline in sugar segment sales to €108 million.

At the EBITDA level, the company maintained a margin of 29%, while the net margin deteriorated from 17.1% to 12.7%.

As of September 30, Astarta’s net debt amounted to €193 million, with total assets of €783 million. The net debt-to-EBITDA ratio stood at a comfortable 1.5x.

Within Astarta’s business structure, the largest revenue contributions come from farming (33%) and sugar (32%), while soybean processing accounts for 23%.

Astarta’s export sales represent 63% of consolidated revenue, amounting to €218 million for the 9-month period.

This year, the company made substantial capital investments totalling €75 million, largely directed toward expanding the soybean processing segment.

“Astarta’s overall financial position looks very solid, considering that its debt load is largely represented by land lease obligations rather than direct financial debt,” analysts noted.