OREANDA-NEWS. August 1, 2011. Dynamic development and successful operational activities of ASTARTA contributed to solid growth of key financial results in the 1H 2011:

•  Consolidated revenue grew 25% to UAH 1,300 mln

•  EBITDA increased by 40% to UAH 750 mln

Consolidated revenues

Consolidated revenues grew 25% to UAH 1,300 mln. Successful marketing policy and favorable market environment provided for increase in revenues from sales of sugar and sugar-by products. This trend was well bolstered by increasing revenues from grain and oilseeds sales which were driven by growing volumes of sales and supportive markets. Contribution of the cattle farming segment was also substantial with 30% y-o-y increase in volumes of milk sold.

EBITDA

EBITDA grew 40% y-o-y to UAH 750 mln. EBITDA growth was driven by increase in revenues, successful efforts of the management directed on cost control, as well as positive effect from revaluation of biological assets that was driven by growth of planted areas, increased productivity per hectare of key crops, as well as gains in cattle farming.

Key operational highlights

• In the reporting period ASTARTA significantly expanded agricultural land bank. As at the end of the reporting period the Group had under its control c. 230 ths ha of agricultural land

• Following acquisition of Novoivanivsky and Savinsky sugar plants in Kharkiv region of Ukraine, the overall processing capacities were increased. Currently, ASTARTA creates integrated production business-units around these sugar plants. Development of business in this region will increase the business? geographical diversification and strengthen the Group's marketing position with medium and big consumers in the eastern part of the country

• Following the strategy of raw materials diversification, ASTARTA initiated raw cane sugar refining at Yaresky sugar plant. The company intends to refine c. 30 ths tonnes of cane sugar during current production season

• ASTARTA significantly expanded agricultural machinery fleet and infrastructure. After acquisitions and construction of storage facilities, total crop storage capacity was increased up to 360 ths tonnes,  the agricultural fleet was boosted by investment of c. EUR 20 mln into more than 300 units of modern farm and transportation machinery, and appliances

• In the beginning of July ASTARTA started harvesting campaign. Current yields of early crops and status of technical crops fully support management guidance of expected harvest of more than

500 ths tonnes of grains and oilseeds, and 2 mln tonnes of sugar beet.