Slide 1: 9M22 operating and financial results
9M22 operating and financial results November 9th, 2022
Slide 2: Disclaimer
DISCLAIMER This presentation is being provided to you solely for your information and may not be reproduced or further distributed to any other person or published, in whole or in part, for any purpose. This presentation comprises the written materials/slides for a presentation concerning ASTARTA Ho
Slide 3: 9M22 Highlights
9M22 HIGHLIGHTS Summary P&L EURk 9M21 9M22 • Astarta’s consolidated revenues for the 9M22 amounted to EUR341m, an Revenues, including 300 939 341 343 increase of 13% y-o-y. The Sugar Production segment was the biggest Agriculture 94 613 103 844 contributor, having generated 32% of those Sugar Produc
Slide 4: 9M22 Highlights: Cash Flows and Balance Sheet
9M22 HIGHLIGHTS Summary Сash Flows Summary Balance Sheet EURk 9M21 9M22 EURk 9M21 YE21 9M22 Pre-tax income 105 799 67 446 Right-of-use asset (mainly land) 118 367 117 058 109 628 Depreciation and amortisation 37 097 35 797 Biological assets (non-current) 26 604 27 703 25 173 Financial interest expen
Slide 5: Agriculture
AGRICULTURE Sales volumes of key crops Financial results kt 2019 2020 2021 9M21 9M22 EURk 2019 2020 2021 9M21 9M22 Corn 714 630 483 151 284 Revenues, including 205 712 175 137 185 049 94 613 103 844 Wheat 266 265 290 243 66 Corn 109 973 94 439 85 126 24 446 66 121 Sunseeds 103 83 45 20 33 Wheat 40 2
Slide 6: Global Agricultural Market Fundamentals
GLOBAL AGRICULTURAL MARKET FUNDAMENTALS Corn global ending stocks vs stock to use Wheat global ending stocks vs stock to use 350 Ending stocks Stock to use 45% 350 Ending stocks Stock to use 45% 300 40% 300 40% 35% 35% 250 30% 250 30% 200 25% 200 25% 150 20% 150 20% 100 15% 15% 100 10% 10% 50 5% 50
Slide 7: Sugar Production
SUGAR PRODUCTION Production Financial results Unit 2019 2020 2021 EURk 2019 2020 2021 9M21 9M22 Sugar production kt 302 226 340* Revenues 116 893 126 973 170 197 112 990 107 802 Sugar beet processed kt 1 950 1 559 1 844 Cost of sales (107 637) (98 728) (123 711) (77 932) (77 973) Own sugar beet % 80
Slide 8: Sugar Production: Ukraine market
SUGAR PRODUCTION Sugar production, consumption and exports, Ukraine • 2022 sugar production season started August 29th and will be 2.5 2.3 2.2 2,000.0 the most challenging one in the history of Ukraine due to active 2.1 2.1 2.1 military hostilities. According to Ukrsugar, only 23 sugar mills will 1,
Slide 9: Soybean Processing
SOYBEAN PROCESSING Production Financial results kt 2019 2020 2021 9M21 9M22 EURk 2019 2020 2021 9M21 9M22 Soybean processed 215 231 208 109 151 Revenues, including 82 718 75 157 89 814 63 040 92 266 Soybean meal 158 169 152 81 111 Soybean meal 54 025 47 872 57 006 38 144 47 287 Soybean oil 41 44 40
Slide 10: Cattle Farming
CATTLE FARMING Milk production, herd and productivity Financial results 2019 2020 2021 9M21 9M22 EURk 2019 2020 2021 9M21 9M22 Milk production, kt 96 93 97 72 75 Revenues 34 603 33 167 38 474 27 402 28 572 Herd, k heads 24 22 22 22 23 Cost of sales (27 692) (25 015) (26 721) (19 525) (20 382) Unit m
Slide 11: Outlook
OUTLOOK Since russia started the full-scale war against Ukraine, all local businesses have operated under conditions that make it difficult to specify development plans in detail. Currently, the primary task is to ensure food security for the country and concentrate on the short-term objectives of v
Slide 12: Sustainability Framework
SUSTAINABILITY FRAMEWORK Downstream operations Ratings and reporting ▪ Four out of five sugar mills retooled from coal to natural gas. Energy-efficiency BAT ASTARTA is a member of the programme reduced unit gas consumption by 1/3, electricity by 2/3 since 2015 Global Compact of United ▪ Four product
Slide 13: Common Help UA humanitarian project
At the start of the war, Astarta co-founded a large-scale humanitarian project Common Help UA. The project grew through other businesses, international organizations, local communities and temporarily displaced civilians joining in to provide assistance to those in need, nurture local entrepreneursh
Slide 14: Summary Financials
SUMMARY FINANCIALS 14
Slide 15: Last Three Years Highlights
LAST THREE YEARS HIGHLIGHTS Revenues*, EURm Investments, EURm ∑491 30 ∑24 ∑448 5% ∑416 8 25 5% 8 5 38 2 ∑16 4% 35 33 90 20 ∑13 83 75 3% 15 3% 2 3% 185 1 206 175 10 21 2% 10 11 117 127 170 5 1% 0 1 2 2 0% 2019 2020 2021 2019 2020 2021 Sugar production Agriculture Sugar production Agriculture Soybean
Slide 16: Consolidated Statement of Profit and Loss
CONSOLIDATED STATEMENT OF PROFIT AND LOSS EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 9M21 9M22 Revenues 68 88 123 128 219 304 353 327 352 314 369 459 372 448 416 491 301 341 Cost of revenues (55) (67) (96) (83) (128) (193) (286) (293) (268) (219) (257) (355)
Slide 17: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 9M21 9M22 Right-of-use asset (mainly land) - - - - - - - - - - - - 110 142 94 117 118 110 Biological assets 4 6 5 13 15 20 44 45 30 19 15 22 17 30 24 28 27 25 PP&E and other 33 79 79 111 1
Slide 18: Consolidated Cash Flows
CONSOLIDATED CASH FLOWS EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 9M21 9M22 PBIT 6 23 (11) 30 80 90 45 21 (67) 14 85 63 (16) 1 9 129 106 67 Depreciation and amortization 4 5 9 8 13 17 25 27 25 22 29 37 46 63 56 51 37 36 Gain on acquisition of subsidiaries (
Slide 19: Appendix
APPENDIX 19
Slide 20: Astarta – Value Chain
ASTARTA – VALUE CHAIN Crop growing Storage, Handling and Logistics Processing Primary agriculture Storage and Handling Sugar • Among Ukraine’s Top 5 agriproducers by land • 7 grain and oilseeds silos with storage • 22% share of the local sugar market bank and production capacity – 562kt by productio
Slide 21: Valuation and Capital Structure
VALUATION AND CAPITAL STRUCTURE EV 2019-2022 4.7 4.6 94 3.6 3.5 231 2.4 107 2.6 139 143 1.9 1.7 1.6 1.1 118 125 0.8 1.1 136 98 70 0.6 31 27 2019 2020 2021 9M22 -0.4 Net financial debt Lease liabilities MCAP Net debt/EBITDA EV/EBITDA Equity Coverage Top 10 shareholders* Board of Directors IPOPEMA Nam
Slide 22: Key ESG Facts
KEY ESG FACTS Energy consumption, k GJ Emissions, kt of CO2 equivalent Water consumption, megaliters Ecological 4 080 388 4.0 3 627 359 3.7 2020 2021 2020 2021 2020 2021 Employees by gender Lost day rate CSR budget, EURm Female Male 18.3 2.4 Social 3 211 3 077 1.6 1 816 1 743 6.0 20% 2020 2021 2020
Slide 23: Astarta IT Solutions
ASTARTA IT SOLUTIONS AgriChain is a proprietary integrated multi-module IT solution for agribusiness management. The core of AgriChain is a WEB-portal consisting of eight modules • AgriChain Land is the farmland management module covering land mapping, lease agreements, leaseholders’ and payments da
Slide 24: Fair Value of Biological Assets
FAIR VALUE OF BIOLOGICAL ASSETS Crops’ calendar Assets in agriculture Mar Apr May Jun Jul Aug Sept Oct Nov Dec Sugar beets Biological assets Agricultural produce Winter crops* Agriculture Agriculture Corn Non-current Current produce at produce Livestock unharvested subsequent the point Sunflower see