Astarta's sugar segment increased revenue by 19%
In 1Q24, Astarta became the first Ukrainian company to export sugar by sea during the full-scale war, with North Africa and the Mediterranean region being the main destinations. At the same time, it continued to export products to the EU markets via overland routes.
It is reported by press-center of the company.
Revenues increased by 19% y-o-y to EUR44m on higher sugar sales volumes. Exports of sugar and sugar-by products made up a robust 51% of the segment’s revenues in 1Q24 vs 14% during 1Q23.
Early spring and stable warm temperatures brought the timing and speed of crop planting forward by two weeks. The Company’s farming subsidiaries sowed sugar beet within 12 days, which is very prompt considering the size of acreage, as it usually takes 14-18 days.