Astarta triples net profit in nine months of 2016
Astarta, one of the largest agricultural enterprises in Ukraine, in January-September 2016 posted a net profit of EUR78.617 million, which is 2.9 times more than in the same period of 2015.
According to its financial report, posted on the website of the holding, its consolidated revenues in the first nine months increased by 8.2%, to EUR216.478 million.
Gross profit increased by 4.7%, to EUR118.936 million, EBITDA amounted to EUR129.006 million against EUR108.118 million for January-September 2015.
Cash flow from operating activities rose by 7.7%, to EUR54.902 million.
Revenues from sugar sales totaled EUR100 million (in the same period last year EUR104 million), and provided 46% of consolidated revenues.
In the first nine months Astarta sold 237,000 tonnes of produce, including 45,000 tonnes for exports, which is 11% less than a year before.
Astarta said on the date of publication of the report its eight sugar factories had processed about 2 million tonnes of sugar beets and produced over 280,000 tonnes of sugar. In general, the company plans this season to process 3.2 million tonnes of sugar beets, 70% of which is grown at own farms.