The largest sugar producer in Ukraine doubled its six-month profit.

Agropromholding Astarta generated €54.73M in net profit for the first half of the year, which is 97.4% more compared to the first half of 2022. According to a  report from the company, revenue for the year’s first half increased by 31.6% to €287.25M. Export revenue increased by 49% to €158M, providing 55% of the company’s consolidated revenue. In hryvnias, Astarta increased its net profit by 150% to UAH 2.17B.

The sugar segment demonstrated strong results: turnover increased by 39% to €86M. This is because of a 25% increase in the volume of sugar sales to 120,000 tons and an increase in the sales price to €693 per ton, which is 13% higher than the figure last year. Exporting sugar and sugar beet processing products provided 26% of the segment’s revenue.

Also, in the first half of 2023 the holding increased its EBITDA by 42.7%, or by €29.1M, to €97.25M compared to the first half of 2022.