OREANDA-NEWS. Volumes of sales of sugar increased by 33%, grains and oilseeds by 21%, and milk by 29%. Revenues grew by 17% to EUR 354 million. Gross profit totalled EUR 83 million and EBITDA EUR 85 million.

Performance in Key Segments

Crop Production and Sales

Revenues in the segment grew by 34% to EUR 106 million and represented 30% of total (26% a year ago). The main drivers for the growth were an increase in volumes of crop sales and favourable prices. Exports of crops increased by 129%, as 54% of agriproduce were exported.

Sugar Production and Sales

ASTARTA produced the all-time-high amount of sugar of 430 thousand tonnes, which is 15% more than a year ago. ASTARTA strengthened its leading position in the Ukrainian sugar market, gaining a 19,3% share. Revenues from sugar and sugar by-products sales grew 5% and totalled EUR 204 million, supported by an increase in volumes of sales of sugar by 33%, molasses by 38% and pulp by 50%. The share of the sugar segment corrected from 64% to 58%, thus reflecting growing diversification. Export sales of sugar and its by-products increased 2.2 times and contributed 9% to the segment revenues.

Production and Sales of Cattle Farming Produce

Average milk yields per cow at ASTARTA's farms increased by 12%, and combined with 7% expansion of dairy herd, provided for 20% growth in milk production, which amounted to 84 thousand tonnes. Lower year on year prices for milk were offset by increased volumes of milk sales, providing for increase of revenues in the segment by 25% to EUR 32 million which implies 9% of total revenues.