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 ($) 7.711
Market Cap ($m) 187
Enterprise Value ($m) 289
Shares Outstanding 24,310,102
Code AST PW

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2018 2019 2020 2021E 2022E
Sales ($m) 440 503 *** *** ***
EBITDA ($m) 74 86 *** *** ***
Net Income ($m) (22) 1 *** *** ***
Net Debt ($m) 371 308 *** *** ***
Indicator 2018 2019 2020 2021E 2022E
P/E neg. 136.10 *** *** ***
P/Sales 0.43 0.37 *** *** ***
EV/EBITDA 7.6 5.7 *** *** ***
P/Book 0.45 0.38 *** *** ***

Latest news about Astarta Holding

Jan 26, 2022
| Food & Agriculture

Astarta Holding — Reports 4Q21 operating results

WSE-listed Astarta Holding, Ukraine’s largest sugar producer, reported 4Q21 sugar sales in volume terms of 86 kt, up 6% y-o-y, with sale prices averaging $669/t, up 43% y-o-y (but -4% q-o-q). Quarterly grain and oilseed sales totaled 408 kt (+22% y-o-y), including 331 kt of corn (+12%), 47 kt of wheat (+7x) and 25 kt of sunflower seeds (-20%). Corn, wheat and sunflower prices averaged $216/t (+26% y o-y), $281/t (+39%) and $645/t (+79%). Soybean oil and meal sales stood at 6 kt and 40 kt in 4Q21, down 28% and up 2% y-o-y, respectively. The average selling price of soybean oil surged by 48% y-o-y to $1,336/t, and that of meal increased by 18% to $532/t. Lastly, 4Q21 raw milk sales stood at 24 kt, up 9% y-o-y, averaging $473/t, up 18% y-o-y.
Jan 04, 2022
| Food & Agriculture

Astarta Holding — Reports 2021 operating results

WSE-listed Astarta Holding, Ukraine’s largest sugar producer processed 1.8 Mt of sugar beets from the 2021 harvest (+18% y-o-y), producing 266 kt of sugar (+18% y-o-y). The sugar extraction rate stood at 14.4% (-0.1pp y-o-y), above the national average of 14.2%. Accounting for white sugar produced from imported raw cane (74 kt), Astarta’s 2021 sugar production reached 339 kt (+50% y-o-y). Separately, Astarta harvested 508 kt of corn in 2021 (+22% y-o-y), for an average yield of 8.6 t/ha (+25%). The sunflower harvest totaled 76 kt (-15% y-o-y), yielding 2.7 t/ha on average (+23%), while the soybean crop came in at 95 kt (+51%), yielding 3.0 t/ha (+30%).
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