OREANDA-NEWS. Consolidated revenues for the nine months of 2014 increased 7% to EUR 279 million, gross profit was EUR 116 million (+ 1% y-o-y), and EBITDA EUR 102 million (-2% y-o-y). Cash provided by operations increased 67% to EUR 81 million. Exports generated 20% of sales.

Performance in Key Segments

Sugar production

Segment's sales were EUR 140 million (50% of the consolidated revenues). ASTARTA started sugar production campaign in late August. As of now, the company's sugar refineries processed more than 2 million tonnes of sugar beets and produced over 300 thousand tonnes of white sugar. To secure higher degree of operating sustainability through energy materials diversification, two sugar plants are switched to coal fired scheme. ASTARTA has also put into operation a Bio-energy complex reducing natural gas consumption by the Globyno sugar plant.

Soybean Processing

New segment delivered EUR 57 million (20% of consolidated revenues). Sales volumes were: 98 thousand tonnes of soybean meal and 22 thousand tonnes of soybean oil. The compliance of plant's production with international standards, smooth performance, efficient technological process and high-quality products allowed the plant to rank thetop position among Ukrainian soybean crushers.

Agricultural Operations

The segment's external revenues were EUR 51 million. About 80% of grains were exported. As of the date of publication, ASTARTA finishes harvesting of corn and sugar beets. Winter crops are planted on c. 50 thousand hectares and are in good conditions.

Dairy Farming

The dairy segment generated revenues of EUR 26 million. Dairy headcount at ASTARTA's farms increased 3% y-o-y to 31 thousand heads. Milk yields per cow increased 11%. Sales volumes of milk increased 14% to 75 thousand tonnes.

Comments of CEO, Viktor Ivanchyk

"ASTARTA's performance was consistent and sustainable despite the challenging economic environment. Now we focus on operational efficiency improvements and implementation of targeted energy-efficiency projects. Balanced investments over the past several years and sound business-model provide a reliable foundation for future development".