Astarta Holding PLC ($AST)

Good afternoon. Thank you very much for joining the call, everyone. Welcome to he can next year. So we would like to ask 1 to be out while we do the main part of the presentation. And then we will ask to send us questions through the Q&A or so that we can handle it more efficient here -- so we comparing our results for the first quarter this year to the previous period. We see the nice growth in control revenues. On back of higher volumes of pulp sales, sugar production in dollar due to the pricing environment despite the higher volumes. Soybean processing is flat and capital funding revenue decline was lower prices. That cost margin conversion and the growth level from 27% to 14%. We also have the creation in the EBITDA for our key segments. First of all, tissue production of minus EUR 55 million and we see of minus EUR 2 million. Also, we -- so our results is on the impact of the asset treatment in accounts. And the margin compression is also evident here, but not as steep. If we are turning to our cash flows even the create an environment in the market for our core products. Our focus was on increase in operating cash flows. The year did some disposing in the first quarter this year, and that allowed us to increase our operations by 43%. We also reduced our CapEx discretionary profit apart from continuing the investment in our main projects in the STC plant, which really land to this year. Lower profitability and EBITDA resulted in our leverage ratios increasing to 2.6% by first quarter. And let me move to our segmental results and look on the at agriculture, we can see higher volume sales, especially for on for white some flower seats. But the prices are lower than last year, and that also match to reduce profitability overall for this segment. Coexist used to the maintenance level of EUR 1 million. Looking ahead for this season, we have relatively stable come, but there is a room to rebalanced over 4. We increased it of or at the expense of lower acreage of fleet. There is some reduction in very significant for sure. And we keep the increase on the table as this is our capro for the processing segment. Currently, we are finishing plant here. We only have a view in the prime plant fill the back underway. And we, of course, prepare for the winter harvesting starting quite soon. Looking at the global market sentiment, the prices are down both in the domestic and the global level for the core grain from the plan such as corn and -- our core destinations for experts in Middle East and North Africa, but we do also retain our same presence in the EU markets where the quotes mid-of June. Sugar mobile and domestically going through the adjustment period, which we haven't seen since 2018. We have low mobile prices also because mitiproduction is higher than local consumption, and we faced a reduction in the EU failure quarter last year. We have suppressed margins at gross margin level, and we became EBITDA relative in the first quarter of this year. The same past is quite significant with average selling prices down by 1/3 compared to the previous year. Exports continue and our main destination is mean North Africa in the absence of prior quarters in the year. If we are looking for this year ahead, we have several public sources for the acreage there is an optimistic number coming from the military economy. We do dispute it a lot. But there is an indication on which forecast much lower acreage and recently NDA with the number somewhere in this year. As explained, we do continue to export and our peer solar producers also try to rely especially in the domestic market by being exit in the mobile market, especially in India region. For the intersection. -- also came under some pressure as prices for new remain quite low. [Audio Gap] As more precise, and they are reflecting the situation on the field. Thank you.

Thank you. The next question from Tomas attention increased significantly to EUR 81 million what are our priorities for capital allocation. So this question will metafoorto line remarks from the CFO.

Thank you, Julia. The temporary increase was driven by our loan drawdowns PAUSE just in the end of the first quarter. And all cash will be allocated for our huge operational and capital expenses.

Thank you. I don't see any more questions in the chat box -- just wait for a couple of seconds is I see no increase on the life average prices of Sobi oil interest quarter, any change at -- the prices on futures are up by loss compared to the start of 2026. This question is to our conversion to next.

Thank you, Julie. We see that the oil segment health is very proud the situation, which is basically on the Middle East. We see that the prices are very fluctuating. And periodically or in between different periods, it could be higher or lower. But on average, the increase is not so huge. So we have some increase, but that is small.

Yes, Second question is also initial there are any signs in tote margins are realized to the prices both in sales improving compared to the first quarter.

We see that current sugar prices are better than it was in the first quarter of this year. Again, the export market is very dependent on the stock exchange from the London contract 5 and New York 11 contract. It's also very fluctuated. And again floating from period to period..

Okay. I probably was on the signal for a while, but I just wanted to ask to the broader picture for investors, which almost cycle of prices, look back to 2018, '19 '20 to see that the growth is unfortunately takes a couple of years. So this is a very cyclical industry, and we are in year 2 of this process. The next question is on SPC. We will be commissioned quarter 3, quarter 4 or due to low bonding production margins, how should we think about its EBITDA up to bill?

I'll start answering this question in to add anything, but we addressed this recently during our annual report retail we expect will be commissioned in the second half of this year. We will not be providing precise base. The situation in Ukraine. -- you should bear in mind that we operate in our effective environment. It will also take on some time to production -- so in terms of our size of the EBITDA contribution, we will see it much better in the quarter in the first quarter of next year and the crushing margin for Sobi will be replaced with the margin that we earned on SPC. -- give us some time to -- we launched the facility and to see the words, which will translate into the margin,

Or #4 covenants is this lower due to the increased cash position after first quarter? The question is to our CFO, Lina, please.

Thank you, Julia. We estimate our liquidity risk is rather low. Of course, every sector first to all prices are increased on our covenants. But we review our forecast as soon as we know or get new information.

Okay. So -- the next question on at in the premium, just going to transfer this one. What we are expecting in terms of evolution. You have some in 2026, taking into account brand jumps, single fuel and setons. We purchased our inputs, given our size, margin and loss more than 6 months and not.

So this recent past, like will have a limited impact, although there will be some impact, which we estimate between 5% and 10%.

I don't see any more questions. Just wait for users. Well, thank you very much. We hope we invest more questions, and we will be happy to further discuss any timing of interest just under the email or the range for pots -- thank you very much and have a good weekend. Bye-bye.