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Investments in soybean processing to allow Astarta to double EBITDA in this segment in two years
KYIV. Sept 22 (Interfax-Ukraine) – Construction of an additional line for deep processing of soybeans at the Globynsky processing plant (Poltava region) with an investment of $50 million by Astarta agricultural holding will allow to double EBITDA in the soybean segment in two years after the launch of the modernized enterprise.
This was announced by Astarta Business Development and IR Director Yuliya Bereshchenko for the PAP Biznes publication (Poland) on Tuesday evening.
"The Soy Protein Concentrate (SPC) project aims at growth of both revenue and EBITDA. We hope to double EBITDA and related margins in the soybean segment when the project is launched in two years. These expectations are based on current assumptions that may change," Bereshchenko said.
She recalled that the largest sugar producer in Ukraine received EUR 415.6 million in revenue in 2020, including EUR 75.2 million (18%) in the soybean segment. Of the EUR 113.4 million EBITDA generated by Astarta last year, the soybean segment accounted for EUR 7.4 million (6.5%). The segment’s return on sales (EBITDA margin) for the year was 10%.
The agricultural holding in the first half of 2021 saw EUR 150.9 million in revenue and EUR 124.8 million in EBITDA, while revenue in the soybean processing segment amounted to EUR 44.8 million (29%), EBITDA to EUR 3.7 million (3%), and EBITDA margin WAS 8%.
"The company currently grows one third of the soybeans used in the facility, which produces two main products – soybean meal and soybean oil. By adding a new production line to existing equipment, the plant will also be able to produce protein feed components for livestock, poultry and fish farming," Bereshchenko said.
