Coverage of high-potential mid-market firms in Poland


ASTARTA packs a powerful performance, publishes robust figures - Annual Report 2016


ASTARTA published Annual Report for the year 2016 Key Highlights
• Consolidated revenues increased by 17% to EUR 369 million
• Share of exports grew to 51%
• EBITDA advanced by 16% to EUR 152 million
• Net profit grew 5,2 times to EUR 83 million
• Net debt reduced by 16% y-o-y to EUR 146 million
• Net Debt to EBITDA ratio dropped to 0.96х Performance in Key Segments Sugar Revenues in the sugar segment came to EUR 175 million, up 15% y-o-y (47% of the Group’s revenues). Volumes of sugar sales increased by 8% to nearly 390,000 tons. ASTARTA delivered a record sugar exports of about 139,000 tons, which is almost four times higher than a year ago. The sale of molasses and granulated pulp was around 89,000 tons (+8% y-o-y) and 26,000 tons (+2% y-o-y) respectively. Agriculture The agricultural segment generated EUR 84 million in revenues (23% of total sales), which is 3% higher y-o-y. Sales volumes declined 9% to around 483,000 tons, mostly because of logistic congestions in Ukraine in autumn 2016. Inventories of crops will be sold in the first half of 2017 contributing to higher segment’s revenues in the period. Export sales in the segment stood at 79%. Soybean processing The revenue of soybean processing segment grew by 48% to EUR 75 million (20% of total revenues). Key drivers of the increase were higher sales volumes (+65% y-o-y) and increased prices for soy oil. The share of exports grew further and amounted to 82% of the segment’s sales (in volume terms). Dairy Farming The dairy segment generated revenues of EUR 25 million (7% of total revenues), which is almost 4% higher y-o-y. Milk sales volumes increased by 3% to about 103,000 tons. During the reporting period, ASTARTA’s farms managed to further improved productivity of its headcount resulting in a 5% growth of yields per cow. Comments of CEO Viktor Ivanchyk: “The past year was a successful one for ASTARTA. The advances made in 2016 and all previous years provide a good base for the further growth. Our focus will remain on yet more efficiency in key business segments”.


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