«Astarta» sugar segment received almost EUR 68 million revenues
According to the results of the first half of 2018, «Astarta» sugar segment generated revenues of EUR 67,5 million, which is leading contribution to the group’s total revenues (39%).
It is stated in the report of the company.
Consolidated revenues stood at EUR 175 million (-30% y-o-y) on the correction of sugar price, decreased sales volumes and a volatile performance of the EUR to USD exchange rate. EBITDA corrected 37% — to EUR 60 million and net income 49% EUR 37 million.
The company said that sugar sales amounted to 185 thousand tonnes, with prices decreased by almost 27%. About half of sales were exported — 92 thousand tonnes.
«This figures were seriously influenced by changes in the market situation, lower sugar prices, reduced sales volumes and fluctuations of $/€. However, our company continues to invest in the further improvement of sugar and agroproduction, as well as grain infrastructure. We are optimistic about the harvest of late crops and the tendencies of reducing sugar supplies in Ukraine on the eve of a new production season», — said Viktor Ivanchyk, General Director of «Astarta-Kyiv».