It is reported by the press service of the company.

In the 2017/2018 marketing year, the global sugar market switched to surplus on significant output expansion in India, the EU and other regions. This was the main driver to launch the cyclical downward move in sugar price by 30-40% y-o-y. 54% of sugar were exported.

Consolidated revenues decreased by 39% — to EUR 91 million and EBITDA by 69% — to EUR 13 million, mostly on contraction of sugar prices and lower volumes of sales/

Net debt stood at EUR 127 million or 3% lower than at the end of 2017. Net Debt/EBITDA remains at strong level of 1,5.

«The financial results of the reporting period are hard to perceive as strong. Both the top and bottom lines look much weaker than just a year ago. There are several reasons for this: markets cyclicality, macroeconomic factors, as well as a high comparison base. At the same time, when one takes a longer-term view, there are several reassuring thoughts. The Group is currently moving through the bottom part of the soft commodities cycle with low debt, a strong balance sheet, constantly increasing operational efficiency, and a healthy combination of local sales and exports. There were several similar periods in «Astarta»’s 25-years history, when the challenges made our Company stronger and provided for new growth opportunities», — commented CEO and founder Viktor Ivanchyk.