Astarta Holding

Astarta Holding is the largest sugar producer in Ukraine with a 25% share of total output in 2016. The company cultivates 250,000 ha of land in central Ukraine and harvested 910 kt of crops in 2016 (1% of total domestic harvest).

Shareholders Structure

SUMMARY

Market Price ($)	11.80
Market Cap ($m)	289
Enterprise Value ($m)	404
Shares Outstanding	24,470,400
Code	AST PW

Recommendations

FV ($)	****
Upside (%)	****
Recommendation	****

Indicator	2020	2021	2022	2023	2024
Sales ($m)	480	573	***	***	***
EBITDA ($m)	128	240	***	***	***
Net Income ($m)	10	147	***	***	***
Net Debt ($m)	159	172	***	***	***

Indicator	2020	2021	2022	2023	2024
P/E	29.22	1.97	***	***	***
P/Sales	0.60	0.50	***	***	***
EV/EBITDA	3.5	1.9	***	***	***
P/Book	0.70	0.51	***	***	***

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Latest news about Astarta Holding

Sep 04, 2025

Headline central budget deficit at $3.4bn in August

According to provisional data from the Finance Ministry, the central budget ran a cash deficit of UAH 143bn ($3.4bn) in August, following a UAH 132bn ($3.2bn) gap in July, bringing the 7M25 deficit to UAH 820bn ($19.7bn) vs. $17.1bn in 8M24.

Aug 29, 2025

| Food & Agriculture

Astarta Holding — 2Q25 EBITDA at $62m, flat y-o-y

WSE-listed Astarta Holding, Ukraine’s largest sugar producer, reported 2Q25 net sales of $117m (-30% y-o-y), EBITDA of $62m (flat y-o-y), and net income of $41m (-2.6%). End-1H25 net debt stood at $179m, yielding a Net Debt/LTM EBITDA ratio of 1.05x vs. 0.75x at end-1Q25 and 0.67x at end-2024. In other news, Astarta secured a EUR 35m ($41m) loan from Ukreximbank to finance working capital, purchase machinery and equipment, and refinance investment expenditures of its subsidiaries. The loan has a maturity of up to ten years.