Ukrainian agri-holding Astarta net profits slip 1% in H1
KYIV. Aug 22 (Interfax) - The agricultural holding Astarta, one of the biggest in Ukraine, made net profits of 52.327 million euros in the first half of 2013, 1.1% less year-on-year, the company reported.
Sales revenues were up 15.2% at 164.213 million rubles, while gross profits contracted 40.2% to 20.892 million euros.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 7.3% to 76.585 million euros and operating profits 7.2% to 63.709 million euros.
The company said it is working hard on preparing for the commissioning of two new industrial facilities - a complex for the production of biogas and a plant that will process soybean. The integration of these into the company will make it possible for Astarta to increase its level of vertical integration, of diversification, and of energy efficiency.
Astarta ended H1 with net debt of 228.13 million euros, up 20.5%.
Astarta is a vertically integrated agribusiness with eight sugar refineries in Poltava, Vinnytsia, Kharkiv and Khmelnytsky regions. Its core business is sugar, grain, oilseed, meat, and milk production.
The holding earned net profits of 45.133 million euros in 2012, which was 48.4% less than it did in 2011.
