It is reported by press center of the company.

Export volumes stood at 4kt, comprising 4% of total sales. Gross margin dropped by 14pp from 37% in 1H21 to 23% in 1H22 due to higher cost of sales. EBITDA totalled EUR12m in 1H22, down 36% y-o-y, with the EBITDA margin declining 12pp y-o-y to 19% in 1H22.

1H22 «Astarta»’s revenues increased by 45% y-o-y to EUR218m, with the biggest contribution by the Agricultural segment with a 35% share. Gross profit declined by 37% y-o-y to EUR77m in 1H22 and Gross margin by 47pp to 35%. Accordingly, EBITDA decreased by 45% y-o-y to EUR68m and EBITDA margin from 83% to 31% in 1H22. Excluding the impact of IAS41, Gross margin increased from 27% to 31%, and EBITDA margin was largely stable at 27% (versus 28% in 1H21). As of the end of 1H22 Net Debt increased by 8% y-o-y to EUR193m on growth in working capital (Net Financial Debt was down 30% y-o-y to EUR53m on higher cash balances as of the end of 1H22).

«Astarta»’s diversified business model helped the сompany to quickly adapt its operations to martial law conditions, secure continuity of production processes, maintain and, for some products, even increase output. The decrease in grain and oilseed exports due to russia’s blockade of the Black Sea ports is compensated by the сompany’s wide product range. After all, almost two-thirds of the products produced by «Astarta» are currently in demand and are being sold domestically. First of all, these are sugar, milk, and soybean-based products that are supplied to meat producers in Ukraine. At the same time, we are exploiting all available routes to achieve planned grain exports. We are fully ready to harvest and process this year’s crop of soybeans, sunflower, sugar beets, and corn while actively investing in the 2023 harvest to maintain the scale of planting at the same level as in previous years», – said Viktor Ivanchyk, CEO and the founder of «Astarta» agro-industrial holding.