Astarta Reports 1Q07 Financials
5 June 2008
Astarta reported 41% growth in sales to USD 19.6 mln, as its EBITDA margin decreased from 31% in 1Q06 to 13% in 1Q07. Olha Pankiv: We expected worsening financials from Ukraine‘s sugar producers in 1Q07 due to low sugar prices after overproduction last season. We expect prices to rise in the summer as the market realizes lower than expected production volumes in 2007/08 season due to an 18% decline in sugar beet cultivation.
