Astarta improves 9M10 EBITDA by 165% y-o-y to EUR 93.9 mln

Astarta Holding (WSE: AST PW) reported its 9M10 financials yesterday on its website. Net sales grew 74% to EUR 130.7 mln, while EBITDA jumped 165% y-o-y to EUR 93.9 mln on the back of 76% y-o-y higher sugar prices in Ukraine and a EUR 7.1 mln IFRS 44 gain from remeasurement of agricultural produce to fair value (vs. EUR -1.3 mln in 9M09) as a result of rapid crop price growth (EBITDA margin: 72%, +25pp y-o-y). The company’s net income was up 262% y-o-y to EUR 76.2, and net margin gained 30 pp y-o-y to 58% in 9M10.