Astarta decreases revenues 4% yoy to EUR 118 mln

Astarta (AST PW) reported its preliminary unaudited financial results yesterday in a trading update: consolidated revenues declined 4% yoy to EUR 118 mln (while they were up 40% yoy in hryvnya equivalent to UAH 1.4 bln); EBITDA rose 58% yoy to EUR 49 mln (up 75% in hryvnya terms to UAH 555 mln) and gross profit increased by 9% to EUR 38 mln (up 75% in UAH-terms to UAH 443 mln). Astarta said its export sales were up 40% yoy to about USD 20 mln. Astarta said it strengthened its leadership on the sugar market, producing ~18% of total Ukrainian sugar in 2009. The company said its land bank expanded to over 175 ths ha as of yearend.