Astarta Holding Plc · GPW:AST
Astarta — Q1 2025 Earnings Presentation
25 slides from Astarta's earnings presentation, May 20, 2025
Slide 1: 1Q25 Operating and Financial Results
1Q25 Operating and Financial Results IR webpage 20th May 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: 1Q25 Highlights
1Q25 HIGHLIGHTS Summary P&L EURk 1Q24 1Q25 Revenues, incl. 165 779 124 577 • In 1Q25 Astarta’s consolidated revenues declined by 25% y-o-y to EUR125m reflecting lower sales volumes Agriculture 73 267 37 169 Sugar Production 43 512 41 145 • The Sugar segment was the main contributor with 33% of total
Slide 4: 1Q25 Highlights: Cash Flows and Balance Sheet
1Q25 HIGHLIGHTS Summary Сash Flows Summary Balance Sheet EURk 1Q24 1Q25 EURk 1Q24 YE24 1Q25 Pre-tax income 10 346 6 542 Right-of-use asset (mainly land) 120 659 120 432 129 093 Depreciation and amortisation 12 553 13 017 Biological assets (non-current) 37 344 47 712 39 302 Financial interest expense
Slide 5: Agriculture
AGRICULTURE Sales volumes of key crops Financial results kt 2022 2023 2024 1Q24 1Q25 EURk 2022 2023 2024 1Q24 1Q25 Corn 366 493 373 215 111 Revenues, incl. 180 292 239 890 208 637 73 267 37 169 Wheat 201 354 366 80 7 Corn 86 316 105 978 70 809 41 658 25 020 Sunseeds 56 118 48 19 16 Wheat 52 955 74 0
Slide 6: Agriculture: Key operating highlights
AGRICULTURE Key operating highlights • As of the date of this report, Astarta’s agricultural subsidiaries completed the 2025 sowing campaign. The pace of planting was affected by adverse weather conditions. Low soil moisture reserves meant that sowing was postponed waiting for better conditions for
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 • The sowing campaign in Ukraine currently underway, with 13mha (flat y-o-y) planned under grains and oilseeds and 6 works on 81% of these already
Slide 8: Sugar Production
SUGAR PRODUCTION Production Financial results Unit 2022 2023 2024 EURk 2022 2023 2024 1Q24 1Q25 Total sugar production kt 282 377 380 Revenues 155 529 199 452 228 715 43 512 41 145 Sugar beet processed kt 1 970 2 701 2 538 Cost of revenues (113 510) (144 408)(180 449) (33 581) (30 763) In house suga
Slide 9: Sugar Market Fundamentals
SUGAR MARKET FUNDAMENTALS Sugar production, consumption and exports, Ukraine 2.5 1.2 1.4 1.8 • As of the day of this report, sugar beet sowing was 2.1 complete in Ukraine, with area totalling 217kha (-16%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 according to the MinAgro. Abnormally
Slide 10: Soybean Processing
SOYBEAN PROCESSING Production Financial results kt 2022 2023 2024 1Q24 1Q25 EURk 2022 2023 2024 1Q24 1Q25 Soybean processed 211 232 226 61 63 Revenues, incl. 121 886 121 539 106 310 29 322 28 693 Soybean meal 155 172 165 44 45 Soybean meal 64 094 84 555 66 273 19 059 16 174 Soybean oil 40 45 45 12 1
Slide 11: Cattle Farming
CATTLE FARMING Milk production volume, herd and productivity* Financial results 2022 2023 2024 1Q24 1Q25 EURk 2022 2023 2024 1Q24 1Q25 Milk production, kt 102 115 119 32 32 Revenues 38 610 42 598 53 099 13 251 16 760 Herd, k heads 23 26 28 27 29 Cost of revenues (26 889) (29 891) (33 272) (7 577) (1
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 1Q24 1Q25 Revenues 68 88 123 128 219 304 353 327 352 314 369 459 372 448 416 491 510 619 612 166 125 Cost of revenues (55) (67) (96) (83) (128) (193) (286) (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 1Q24 1Q25 Right-of-use asset (mainly land) - - - - - - - - - - - - 110 142 94 117 98 107 120 121 129 Biological assets 4 6 5 13 15 20 44 45 30 19 15 22 17 30 24 28 30 37 48
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 1Q24 1Q25 PBIT 6 23 (11) 30 80 90 45 21 (67) 14 85 63 (16) 1 9 129 75 74 90 10 7 Depreciation and amortization 4 5 9 8 13 17 25 27 25 22 29 37 46 63 56 51 46 50 49 13 13 Gain o
Slide 20: Appendix
APPENDIX
Slide 21: Astarta – Value Chain
ASTARTA – VALUE CHAIN Crop growing Storage, Handling and Logistics Processing Sugar Primary agriculture Storage and Handling • 21% share of the local sugar market by • Among Ukraine’s biggest agricultural • 7 grain and oilseeds silos with storage production businesses with 214kha of leased land in c
Slide 22: Valuation and Capital Structure
VALUATION AND CAPITAL STRUCTURE EV 2022-1Q25 4.6 317 3.6 165 239 2.8 109 2.6 2.2 2.2 1.7 1.6 109 118 1.0 1.1 132 0.7 134 0.7 0.6 43 39 -21 -17 -0.4 2022 2023 2024 1Q25 Net financial debt Lease liabilities MCAP Net debt*/EBITDA EV/EBITDA *Net debt incl. lease Equity Coverage Top 10 shareholders* Boar
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