Agro-industrial group Kernel, the largest producer of vegetable oil in Ukraine, will publish its consolidated report for the 2022 financial year (FY, July-2021 – June-2022) on November 10 instead of the previously scheduled date of October 28.
As indicated in the message of the holding on the Warsaw Stock Exchange on Wednesday, the postponement was caused by the collection of additional information about the consequences of Russian aggression in Ukraine.
It is specified that on the day of the publication of the report, the management of Kernel will not hold a regular telephone conference, since “no information in addition to that published in the report should be presented during such a conference.”
“The management does not intend to make any recommendations or forecasts regarding the future activities of the company, given the uncertainty prevailing in Ukraine due to the Russian invasion. The company will return to the usual practice of arranging quarterly calls after the lifting of martial law in Ukraine,” the agricultural holding emphasized in an exchange message. .
In addition, the group of companies will continue to analyze the consequences of Russian aggression in Ukraine and inform all parties interested in the company’s activities about updates and changes in the work of Kernel.
Before the war, Kernel ranked first in the world in the production of sunflower oil (about 7% of world production) and its export (about 12%), and was also the largest producer and seller of bottled sunflower oil in Ukraine. In addition, the company was engaged in the cultivation of other agricultural products and their sale.
The largest co-owner of Kernel through Namsen Ltd. is Ukrainian businessman Andrey Verevsky with a share of 39.3%.
The agricultural holding in fiscal year 2021 (FY, July 2020 – June 2021), increased its net profit by 4.3 times compared to FY 2020 – up to $513 million, its EBITDA increased 2.1 times – up to $929 million, revenue – by 38%, to $5.65 billion.
