Astarta Holding Plc · GPW:AST
Astarta — Q1 2026 Earnings Presentation
25 slides from Astarta's earnings presentation, May 19, 2026
Slide 1: 1Q26 Operating and Financial Results
1Q26 Operating and Financial Results IR webpage 19th May 2026
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: 1Q26 Highlights: Summary P&L
1Q26 HIGHLIGHTS Summary P&L EURk 1Q25 1Q26 • Astarta’s consolidated revenues in 1Q26 increased by 5% y-o-y to Revenues, incl. 124 577 131 368 EUR131m. Export sales of EUR83m reached 63% of consolidated revenue Agriculture 37 169 57 578 during the reporting period Sugar Production 41 145 32 433 • The
Slide 4: 1Q26 Highlights: Cash Flows and Balance Sheet
1Q26 HIGHLIGHTS Summary Сash Flows Summary Balance Sheet EURk 1Q25 1Q26 EURk 1Q25 YE25 1Q26 Pre-tax income 6 542 (13 215) Right-of-use asset (mainly land) 129 093 125 985 140 917 Depreciation and amortisation 13 017 13 813 Biological assets (non-current) 39 302 33 330 28 597 Financial interest expen
Slide 5: Agriculture
AGRICULTURE Sales volumes of key crops Financial results kt 2023 2024 2025 1Q25 1Q26 EURk 2023 2024 2025 1Q25 1Q26 Corn 493 373 201 111 165 Revenues, incl. 239 890 208 637 149 448 37 169 57 578 Wheat 354 366 235 7 20 Corn 105 978 70 809 41 114 25 020 34 068 Sunseeds 118 48 45 16 28 Wheat 74 076 79 8
Slide 6: Agriculture: Yields, Output and Operating Highlights
AGRICULTURE Gross yields and output of key crops Key operating highlights 2023 2024 2025 • As of the date of this report, Astarta’s 2026 spring sowing campaign is t/ha t/ha kt t/ha kt t/ha kt on the final stages. Cold spring delayed planting by a fortnight Corn 10.3 201 7.6 40 7.6 94 • Area under wh
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 MinEconomy, the spring sowing campaign in Ukraine is currently underway, with 13mha (-2% y-o-y) planned 6 under grains and oilseeds.
Slide 8: Sugar Production
SUGAR PRODUCTION Production Financial results Unit 2023 2024 2025 EURk 2023 2024 2025 1Q25 1Q26 Total sugar production kt 377 380 362 Revenues 199 452 228 715 146 617 41 145 32 433 Sugar beet processed kt 2 701 2 538 2 319 Cost of revenues (144 408) (180 449) (114 244) (30 763) (30 058) In house sug
Slide 9: Sugar Market Fundamentals
SUGAR MARKET FUNDAMENTALS Sugar production, consumption and exports, Ukraine • In 2026 planned sugar beet acreage in Ukraine stands at 2.5 2.1 197kha (-1% y-o-y) according to MinEconomy. As of May 18th, 2.1 crop sowing was 95% complete. According to USDA and 2000 2.0 1.8 1.8 1.8 1.7 1.5 1.5 1.3 1.5
Slide 10: Soybean Processing
SOYBEAN PROCESSING Production Financial results kt 2023 2024 2025 1Q25 1Q26 EURk 2023 2024 2025 1Q25 1Q26 Soybean processed 232 226 229 63 61 Revenues, incl. 121 539 106 310 112 378 28 693 27 995 Soybean meal 172 165 165 45 44 Soybean meal 84 555 66 273 60 848 16 174 14 943 Soybean oil 45 45 45 13 1
Slide 11: Cattle Farming
CATTLE FARMING Milk production volume, herd and productivity* Financial results 2023 2024 2025 1Q25 1Q26 EURk 2023 2024 2025 1Q25 1Q26 Milk production, kt 115 119 126 32 33 Revenues 42 598 53 099 56 408 16 760 12 706 Herd, k heads 26 28 29 29 31 Cost of revenues (29 891) (33 272) (35 884) (10 308) (
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 • Careful deployment of financial resources for expansion in crop growing and value- conditions and help in added agricultural processing neari
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 21% 15 15 140 21% 43 53 ∑472 ∑100 120 122 16% 106 7 10% 56 8 100 7% 11% 209 112 80 ∑59 42 240 6% 5 60 149 ∑41 17 1% 7 28 40 229 14 17 199 147 -4% 9 20 11 21 23 0 -9% 2023 2024 2025 2023 2024 2025 Sugar Production Agriculture Soyb
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 2025 1Q25 1Q26 Revenues 68 88 123 128 219 304 353 327 352 314 369 459 372 448 416 491 510 619 612 472 125 131 Cost of revenues (55) (67) (96) (83) (128) (193)
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 2025 1Q25 1Q26 Right-of-use asset (mainly land) - - - - - - - - - - - - 110 142 94 117 98 107 120 126 129 141 Biological assets 4 6 5 13 15 20 44 45 30 19 15 22 17 30 24 28
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 2025 1Q25 1Q26 PBIT 6 23 (11) 30 80 90 45 21 (67) 14 85 63 (16) 1 9 129 75 74 90 24 7 (13) Depreciation and amortization 4 5 9 8 13 17 25 27 25 22 29 37 46 63 56 51 46 50 49 50
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 2023-1Q26 6.0 5.9 4.9 5.0 265 282 4.0 3.0 165 2.2 239 2.2 2.3 2.0 132 147 1.4 1.0 118 1.1 0.7 132 94 0.0 39 72 -21 2023 2024 2025 1Q26 -1.0 Net financial debt Lease liabilities MCAP Net debt*/EBITDA EV/EBITDA *Net debt incl. lease Equity Coverage Top 10 shareholder
Slide 23: Key ESG Facts
KEY ESG FACTS Total energy consumption, kMWh Total emissions, kt of CO2eq* Water consumption, 2025, k m3 ∑1 161 ∑1 141 Biogenic Ecological 1 225 288 234 1 052 5 798 Scope 3 352 405 15 14 Scope 2 3 142 2 656 507 487 Scope 1 Withdrawal Discharge Consumption 2024 2025 2024 2025 *Carbon dioxide equivale
Slide 24: Astarta IT Solutions
ASTARTA IT SOLUTIONS AgriChain is the integrated technological ecosystem of Astarta, that is driving digital transformation through centralised data management and bespoke IT solutions. In 2025, the platform evolved into a unified operational architecture, synchronising land bank management, field o
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