Astarta posts net loss of $5.6 million in 9M 2020

13 November 2020

Astarta-Kyiv, a Ukraine-based agroholding and leading sugar producer operating 250,000 hectares of farmland, reported net loss of $5.6 million in January-September 2020 as compared to net profit of $2.3 million for the same period of 2019. Meanwhile, the company's consolidated revenue amounted to $342.7 million in 9M 2020, a 11%-decrease as compared to 9M 2020.

In particular, revenues from agribusiness segment declined 18% to $143.3 million, revenues from soybean processing were down 17% to $63.3 million while revenues from sugar production and livestock farming slightly increased to $102.9 million and $29.5 million, respectively. EBITDA rose 52% to $96.6 million.

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