btlines

AST GPW sWIG80 Periodic report · PAP Biznes

Astarta SA (AST) · Q2 2026 results and valuation

Share price: 30.15 zł · 2026-11-10

Results Q2 2026 vs Q2 2025 · year over year · published 27 Aug 2026 and 28 Aug 2025

Net income turned to a loss from a profit a year earlier. The language turned more cautious.

Only a basic analysis is available for this company at the moment.

1 · Numbers

Turned loss

Net income vs Q2 2025

Net income -14.1M vs 42.3M

Revenue −0.1%

Why Net income fell primarily due to a lower contribution from changes in fair value of biological assets from falling commodity prices and higher costs.

2 · How the report reads

More cautious

Language tone vs last period

Report language: cautious for a company report — more cautious than in Q2 2025.

Weak signal: formal report language, not a call.

3 · What stood out

Astarta SA's consolidated EBITDA fell 58% year-over-year to EUR34m, resulting in an EBITDA margin of 15% down from 36% last year.

Valuation

Is Astarta SA undervalued?

Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.

At −2.6% growth a year (3-year revenue growth), the model's fair value is 1.47 zł a share — the stock trades 1947% above it. Today's price assumes 11.2% growth a year.

Current price

30.15 zł

close of 2026-11-10

Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.

+11.2% for 10 yrs

Fair value / share

1.47 zł

Buy below

1.10 zł

Price vs fair value

Overvalued >200%

Price vs buy-below price

Overvalued >200%

Official channels

The company's own website and social media accounts.

Read between the lines

  1. Key theme

    Cattle farming's share in consolidated revenues reached 11% with segment revenues of EUR25m from export sales.

    Source quote
    “CATTLE FARMING Share in consolidated revenues: 11% Segment revenues: EUR25m Export sales”

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q2 2025.

Report language Cautious (was restrained)

Cautious for a company report — more cautious than in Q2 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“As fair value less costs to sell was not lower than the carrying amount, no impairment loss was recognised.”
“A negative impact on the continuation of business process: military mobilisation, travel restrictions, loss (including death) of employees.”
“Bottom line net profit turned red at EUR14m vs EUR42m profit in 1H25.”

Full figures

EUR · PAP Biznes report (2026-08-27)

Metric Q2 2026 Q2 2025 Change
Revenue 226.5M 226.6M −0.1%
Gross profit 46.0M 91.7M −49.8%
Operating income 6.6M 55.5M −88.1%
Net income -14.1M 42.3M Turned loss
EPS -0.57 1.73 Turned loss
P/E today 47.4 51.6 14.6 +37.0

Topics

Topics are drawn from the full report text, not management commentary.

Most discussed now

  • Astarta believes that these APMs better reflect the Company’s core operating activities and provide both management and investors…
  • Name of the issuing entity: ASTARTA HOLDING PLC
  • The business may be affected by changes in...
  • The Group’s forecasts remain subject to significant uncertainties related to the ongoing military invasion, including potential disruptions…
  • Winter rapeseed sowing is in the final stages, and preparations for winter wheat sowing are underway.

Faded since Q2 2025

  • Fading Share capital is as follows: (unaudited) (audited) (unaudited)
  • Fading All unallocated items relate to overall Group’s operating activity and may not be allocated to the identified reporting segments.
  • Dropped Stable level of external long-term debt will be maintained through the servicing of existing debt as per initial loan schedules.
  • Fading Beginning from July Astarta’s agricultural subsidiaries started early crop harvesting.

Latest announcements

Official filings, newest first.

Similar companies

Consumer Defensive · Farm Products
All Consumer Defensive companies →