ASTARTA's sugar segment generated EUR29m revenues

In 1Q21 ASTARTA’s consolidated revenues amounted to EUR83m of which EUR29m were generated by the Sugar segment.

It is reported by press center of the company.

1Q21 sugar revenues were flat at EUR29m. In 1Q21 ASTARTA concentrated on sales in the domestic market due to a favourable local pricing environment. The Gross margin increased from 14% in 1Q20 to 39% in 1Q21, accordingly. EBITDA amounted to EUR10m in 1Q21 versus EUR3m in 1Q20.

Valery Sokolenko, Executive Director of ASTARTA, commented: «In the first quarter of 2021, we continued to optimise capacities, output and costs in response to market volatility. All planned business processes and tasks were accomplished in time. On May 18, ASTARTA completed the sowing campaign, conducting it in the optimal time. The crop forecast is optimistic. Therefore, we have reason to hope that the raw materials will be enough to fully load the production capacity of our sugar factories during the sugar beet processing season. Now the Company started production of sugar from raw cane sugar to create a reserve stock of sugar in the interest of our consumers, ensure food security and stabilize product prices in Ukraine amid projected price growth globally in the medium term».