Annual Report

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ASTARTA HOLDING N.V. Annual Report 2011Figure 22. Average milk price in Ukraine, 2007 - 2011, UAH per tonne, VAT excl.Source: State Statistics Committee of UkraineThe Management believes that efficient industrial milk production based on verticalintegration and regional synergy has a strong long-term potential and intends to develop thisbusiness segment.18
ASTARTA HOLDING N.V. Annual Report 2011Financial Performance and Financial PositionThe table below provides selected financial data as at and for the twelve months endedDecember 31 in thousand of Ukrainian hryvnia, Euro and Polish zloty.Table 1. Selected financial dataUAH EUR PLN2011 2010 2011 2010 2011 2010I. Revenues 3 385 529 2 328 203 303 587 219 330 1 256 745 923 543II. Profit from operations 1 041 083 911 737 93 356 87 510 386 461 361 664III.Profit (loss) before tax 1 003 609 829 052 89 996 79 626 372 551 328 865IV. Net profit (loss) 976 110 834 788 87 530 80 041 362 343 331 141V. Cash flows provided (used) byoperating activitiesVI. Cash flows used in investingactivitiesVII. Cash flows provided byfinancing activities- -36 375 226 397 6 927 25 205 13 503 89 806(953 670) (423 066) (90 837) (40 002) (354 013) (167 820)958 634 186 228 85 987 15 112 355 855 73 872VIII. Total net cash flow 41 339 (10 441) 2 139 315 15 345 (4 142)IX. Total assets 5 941 726 3 734 479 570 224 352 639 2 205 633 1 345 484X. Current liabilities 1 409 350 798 736 135 255 75 425 523 166 287 774XI. Non-current liabilities 1 335 391 721 816 128 158 68 160 495 712 260 061XII. Share capital 1 663 1 663 250 250 599 599XIII. Total eqity 3 196 985 2 213 927 306 811 209 054 1 186 755 797 649XIV. Number of shares 25 000 000 25 000 000 25 000 000 25 000 000 25 000 000 25 000 000XV. Profit (loss) per ordinaryshare39,06 33,4 3,51 3,2 14 12--Financial PerformanceRevenuesIn 2011, the Group increased revenues by 45% y-o-y to UAH 3,385 million due to highervolumes of sales and better pricing. Revenues in the Euro equivalent increased by 38% y-o-yto EUR 303.6 million.Revenues from sugar and sugar by-products sales grew 28% y-o-y to UAH 2,167 million; inthe Euro equivalent revenues in the segment increased by 22% y-o-y to EUR 194 million.Volumes of sugar sales increased 10%, and growth of volumes of sales of molasses was88% and granulated pulp 34%. For more details on sugar segment, refer to sections SugarSegment and Segments Performance.Due to a 67% y-o-y increase in volumes of sales of crops and favorable market environment,external revenues in this segment increased by 106% y-o-y to UAH 886.3 million and by 96%in the in Euro equivalent to EUR 79.5 million. For more details on crop markets situation,refer to sections Agriculture Segment and Segments Performance.19
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Viktor Ivanchyk, ASTARTA Holding N.
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