OREANDA-NEWS. November 22, 2012. For the nine months of 2012 revenues grew 26% to EUR 235 million, EBITDA increased 6% to EUR 115 million, and net profit corrected 10% to EUR 84 million. ASTARTA substantially increased sales of the key products: volumes of crop sales grew by 60%, sugar by 54%, and milk by 33%. Exports grew five-fold, thus increasing its share in consolidated revenues to 26%.

Currently, the Group's subsidiaries are finishing the harvest of technical crops. Winter crops are successfully planted on 51 thousand hectares and are reported to be in good condition. Soil preparation for sowing sugar beet and other crops in spring 2013 is well on track.

Modern agri-technologies applied on our fields favour increase of yields of beet and sugar content. We expect that harvest of sugar beet in ASTARTA’s farms will reach a record 2.5 million tonnes this year. According to our estimates, processing of our own sugar beet and those supplied by local farmers will secure approximately 400 thousand tonnes of white sugar. As a result of modernization and improvements in technology at ASTARTA plants, natural gas consumption per tonne of processed sugar beet decreased 7% and the total daily production capacity of the plants increased 6%.

Cattle farming segment of ASTARTA demonstrates the strong dynamics. For the nine months of 2012, farms produced 64 thousand tonnes of milk (+28% y-o-y). In order to accelerate growth in the cattle farming, we started construction of a heifer-breading complex for 5,000 heads. When it becomes fully operational, it shall advance the milking herd's development and help to further increase milk yields.

Comments of Viktor Ivanchyk, CEO:

“Currently, we concentrate our efforts on the successful completion of this production season and the further development of ASTARTA' industrial assets. A 50-kiloton modern sugar silo was commissioned in the beginning of November. We complete the construction of a biogas station at one of our sugar plants. Likewise the construction of a soybean processing plant is well on schedule.

Profitability of the Group for the reporting period was influenced by low sugar prices in Ukraine following overproduction in 2011. However, diversified nature of our business, in particular contribution from growing sales of grains and oilseeds, and high quality milk strongly supported the financial performance. Looking forward, we expect that the Ukrainian sugar market should gradually recover; a strong export demand for grains and oilseeds will be in place; and a lasting development potential for the high quality milk segment will reinforce".