Friday, April 14, 2017

Astarta reports 2016 results

Astarta website:

Consolidated revenues increased by 17% to EUR 369 million
Share of exports grew to 51%
EBITDA advanced by 16% to EUR 152 million
Net profit grew 5,2 times to EUR 83 million
Net debt reduced by 16% y-o-y to EUR 146 million
Net Debt to EBITDA ratio dropped to 0.96х

All the metrics for this Ukrainian based agricultural giant are going in the positive direction. Ukraine has tremendous agricultural potential. Astarta impresses me because they are implementing the most technologically advanced techniques into their operation.

It also does not hurt that the Ukrainian currency is down versus the dollar so that the company's exports garner dollars and their costs are in hrvynia.

I would also note that Prem Watsa's Fairfax Financial increased their stake in Astarta from 10% to 20%.

Here is a link to the company presentation on the 2016 results


1 comment:

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