Astarta Holding Plc · GPW:AST
Astarta — FY2024 Earnings Presentation
25 slides from Astarta's earnings presentation, Apr 22, 2025
Slide 1: 2024 Operating and Financial Results
2024 Operating and Financial Results IR webpage 22nd April 2025
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: 2024 Highlights
2024 HIGHLIGHTS Summary P&L EURk 2023 2024 • Astarta’s 2024 consolidated revenues were almost stable at EUR612m 618 931 612 145 (-1% y-o-y) Revenues, incl. Agriculture 239 890 208 637 • The Agricultural segment generated 34% of the consolidated revenues Sugar Production 199 452 228 715 or EUR209m in
Slide 4: 2024 Highlights: Cash Flows and Balance Sheet
2024 HIGHLIGHTS Summary Сash Flows Summary Balance Sheet EURk 2023 2024 EURk YE23 YE24 Pre-tax income 73 793 89 609 Right-of-use asset (mainly land) 107 142 120 432 Depreciation and amortisation 49 591 48 970 Biological assets (non-current) 36 614 47 712 Financial interest expenses, net 3 265 308 PP
Slide 5: Agriculture
AGRICULTURE Sales volumes of key crops Financial results kt 2022 2023 2024 EURk 2022 2023 2024 Corn 366 493 373 Revenues, incl. 180 292 239 890 208 637 Wheat 201 354 366 Corn 86 316 105 978 70 809 Sunseeds 56 118 48 Wheat 52 955 74 076 79 843 Rapeseeds 15 38 73 Sunseeds 28 137 41 225 19 505 Rapeseed
Slide 6: Agriculture: yields and operating highlights
AGRICULTURE Gross yields and output of key crops Key operating highlights 2022 2023 2024 t/ha • Astarta harvested 0.6mt of grain and oilseeds in 2024 (-29% y- t/ha kt t/ha kt t/ha kt o-y). Adverse weather conditions significantly impacted the Corn 8.9 342 10.3 201 7.6 40 crops, leading to a decline
Slide 7: Agricultural Market Fundamentals
AGRICULTURAL MARKET FUNDAMENTALS Ukrainian export of agricultural products by means of transport, mt 8 Black Sea Grain initiative Ukrainian Sea Corridor • According to MinAgro, Ukrainian farmers harvested 76mt of grains and oilseeds in 2024 (-7% y-o-y). Wheat output 6 amounted to 22mt in 2024, flat
Slide 8: Sugar Production
SUGAR PRODUCTION Production Financial results Unit 2022 2023 2024 EURk 2022 2023 2024 Total sugar production kt 282 377 380 Revenues 155 529 199 452 228 715 Sugar beet processed kt 1 970 2 701 2 538 Cost of revenues (113 510) (144 408) (180 449) In house sugar beet % 82% 74% 68% Gross profit 42 019
Slide 9: Sugar Market Fundamentals
SUGAR MARKET FUNDAMENTALS Sugar production, consumption and exports, Ukraine • Ukraine harvested about 12mt of beet (flat y-o-y) from an area of 2.5 1.2 1.4 1.8 254kha in 2024 (previous year: 250kha). Yields averaged 2.1 48t/ha (flat y-o-y) 2 000.0 2.0 1.5 1.8 1.8 1.7 1.6 1.6 1.5 1.5 1.2 1.6 2.1 1.3
Slide 10: Soybean Processing
SOYBEAN PROCESSING Production Financial results kt 2022 2023 2024 EURk 2022 2023 2024 Soybean processed 211 232 226 Revenues, incl. 121 886 121 539 106 310 Soybean meal 155 172 165 Soybean meal 64 094 84 555 66 273 Soybean oil 40 45 45 Soybean oil 56 195 35 468 38 302 Sales volumes Cost of revenues
Slide 11: Cattle Farming
CATTLE FARMING Milk production volume, herd and productivity* Financial results 2022 2023 2024 EURk 2022 2023 2024 Milk production, kt 102 115 119 Revenues 38 610 42 598 53 099 Herd, k heads 23 26 28 Cost of revenues (26 889) (29 891) (33 272) Unit milk yield, kg/day 23.6 25.8 26.3 BA revaluation 7
Slide 12: Strategy for a Sustainable Future
STRATEGY FOR A SUSTAINABLE FUTURE Area of focus • Safety and support of personnel, preservation and development of human resources Resilience under war-time conditions and help in • Careful deployment of financial resources for value-added agricultural processing nearing the Victory of Ukraine • Sup
Slide 13: Sustainability Framework: Energy & GHG Emissions Management
SUSTAINABILITY FRAMEWORK: ENERGY & GHG EMISSIONS MANAGEMENT Downstream operations Ratings and reporting • Four out of five sugar mills retooled from coal to natural gas. Energy-efficiency BAT From 2008 - membership in programme reduced unit gas consumption by 1/3, electricity by 2/3 since 2015 the G
Slide 14: Common Help Ukraine humanitarian project
At the start of the war, Astarta co-founded a large-scale humanitarian project Common Help Ukraine. 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 entrepren
Slide 15: Summary Financials
SUMMARY FINANCIALS
Slide 16: Last Three Years Highlights
LAST THREE YEARS HIGHLIGHTS Revenues, EURm Investments, EURm ∑619 ∑612 100 10% 12% ∑510 15 15 43 53 7% 14 80 7% 39 122 106 3% ∑59 122 60 209 ∑41 22 2% 240 180 40 ∑17 21 16 20 -3% 199 229 2 9 156 9 21 6 11 0 -8% 2022 2023 2024 2022 2023 2024 Sugar Production Agriculture Soybean Processing Sugar Produ
Slide 17: 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 2022 2023 2024 Revenues 68 88 123 128 219 304 353 327 352 314 369 459 372 448 416 491 510 619 612 Cost of revenues (55) (67) (96) (83) (128) (193) (286) (293) (268) (219) (2
Slide 18: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Right-of-use asset (mainly land) - - - - - - - - - - - - 110 142 94 117 98 107 120 Biological assets 4 6 5 13 15 20 44 45 30 19 15 22 17 30 24 28 30 37 48 PP&E and other 33
Slide 19: Consolidated Cash Flows
CONSOLIDATED CASH FLOWS EURm 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 PBIT 6 23 (11) 30 80 90 45 21 (67) 14 85 63 (16) 1 9 129 75 74 90 Depreciation and amortization 4 5 9 8 13 17 25 27 25 22 29 37 46 63 56 51 46 50 49 Gain on acquisition of subs
Slide 20: Appendix
APPENDIX
Slide 21: Astarta – Value Chain
ASTARTA – VALUE CHAIN Crop growing Storage, Handling and Logistics Processing Primary agriculture Storage and Handling Sugar • Among the biggest Ukraine’s agricultural • 7 grain and oilseeds silos with storage • 21% share of the local sugar market by businesses by land bank in operation capacity – 5
Slide 22: Valuation and Capital Structure
VALUATION AND CAPITAL STRUCTURE EV 2022-2024 4.6 3.6 165 239 109 2.6 2.2 2.2 1.7 1.6 109 118 1.0 1.1 132 0.7 0.6 43 39 -21 -0.4 2022 2023 2024 Net financial debt Lease liabilities MCAP Net debt*/EBITDA EV/EBITDA *Net debt incl. lease Equity Coverage Top 10 shareholders* Board of Directors Name Share
Slide 23: Key ESG Facts
KEY ESG FACTS Total energy consumption, kMWh Total emissions, kt of CO2eq* Emissions breakdown, 2024, % ∑1 285 ∑1 161 390 Biogenic Ecological 1 184 288 1 018 Scope 3 FLAG** 348 352 40% 16 15 non-FLAG Scope 2 60% 531 507 Scope 1 2023 2024 2023 2024 *Carbon dioxide equivalent **FLAG – Forest, Land & A
Slide 24: Astarta IT Solutions
ASTARTA IT SOLUTIONS AgriChain is an in-house, integrated, multi-module IT system for agribusiness management. The AgriChain system consists of 12 IT modules, unified through an authorisation server and web portal. This architecture allows businesses to utilize individual modules or custom combinati
Slide 25: 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