Kernel Agro Holding, one of the largest agricultural companies in Ukraine, processed 951 thousand tons of oilseeds, including 17 thousand tons of rapeseed, in the fourth quarter of fiscal year (FY) 2024, bringing the total processing volume to 3.2 million tons in FY 2024.
“This represents an increase of 27% year-on-year, primarily due to new crushing capacity added in February 2024 and the commissioning of a new oil extraction plant in Western Ukraine,” the company explained in a report to the Warsaw Stock Exchange on Monday.
According to the report, sales of sunflower oil in April-June 2024 increased by 1% quarter-on-quarter to 384 thousand tons, including 20 thousand tons of bottled sunflower oil.
The volume of silo acceptance in the fourth quarter of FY2024 was seasonally low and amounted to 53 thsd tonnes, bringing the total production in FY2024 to 2.8 mln tonnes, which is the same as in the same period last year, the agroholding said.
At the same time, the volume of grain exports from Ukraine in the last quarter of the financial year amounted to 1.61 mln tonnes, 46% of which were to foreign buyers. This is 14% less than in the previous quarter, but 2.6 times more than in the same period last year.
“For the whole of fiscal year 2024, Kernel exported 5.5 million tons of grain, up 47% year-on-year. Grain received from external suppliers accounted for 2.6 million tons of the total export volume. The agricultural holding attributed this growth to well-functioning export routes through the Black Sea for most of the year.
In April-June 2024, the transshipment volume of the group’s export terminals decreased by 8% compared to the previous quarter and amounted to 2.3 mln tons, indicating a slowdown in grain exports.
For the whole of FY2024, Kernel transshipped 6.7 mln tons of grain, sunflower oil and meal through its terminals, up 51% year-on-year. This growth was driven by the resumption of export routes through deep-water ports starting in the second quarter of FY2024. Grain accounted for 75% of the total transshipment volume in FY2024, edible oil for 12%, and meal produced from residues.
To improve terminal capacity utilization, the Group provided transshipment services to third parties in FY2024, totaling 486 thousand tons.
“Critically high temperatures and prolonged lack of precipitation in all regions of the group’s presence negatively affected the yield potential of spring crops in the fields, especially soybeans and, to a lesser extent, corn,” the agricultural holding summarized.
Before the war, Kernel Agro Holding was the world’s leading producer of sunflower oil (about 7% of global production) and its exports (about 12%). It is one of the largest producers and sellers of bottled oil in Ukraine. In addition, it is engaged in the cultivation and sale of agricultural products.
Kernel’s net profit for FY2023 amounted to $299 million, while the company ended the previous year with a net loss of $41 million. The agricultural holding’s revenue for FY2023 decreased by 35% to $3.455 billion, but EBITDA increased 2.5 times to $544 million.
In the first half of FY2024, Kernel’s net profit fell 3.6 times compared to the first half of FY2023, to $102 million, and EBITDA halved to $223 million, with revenue down 16% to $1.59 billion.
Foxtrot, an omnichannel electronics and home appliances retailer, has become the official distributor of Bluetti, a manufacturer of portable solar power plants and related products, Foxtrot’s press service reports.
“We always offer our customers the most modern and reliable solutions to ensure the comfort and safety of their homes. This is also the case with Bluetti appliances, which already have fans among our customers due to the high quality and innovative technologies used in production. This equipment is the perfect choice for customers looking for a backup power source in these difficult times,” said Vyacheslav Sklonny, Foxtrot’s commercial director.
Bluetti, an American manufacturer of portable charging stations and mobile solar systems, has been present on the global market since 2019 and became best known in Ukraine in October 2022. “Foxtrot started its own imports of Bluetti brand in October 2023.
The company said that it is also looking forward to innovative balcony solutions from Bluetti, which will be able to provide electricity during power outages not only to a private house but also to an apartment, making it as autonomous as possible. The terms of cooperation stipulate that most of the new models will first be presented in the Foxtrot network and then go to the general market.
“Foxtrot is one of the largest omnichannel retail chains in Ukraine in terms of the number of stores and sales of electronics and home appliances. The company operates 124 stores in 67 cities, including the frontline cities of Kherson, Kramatorsk, Sloviansk and Pokrovsk, and an online platform Foxtrot.ua and a mobile application of the same name. The number of customers reaches 14.2 million.
The Foxtrot brand is developed by the Foxtrot Group of Companies. The co-founders are Valery Makovetsky and Gennady Vykhodtsev.
Last week, Energoatom signed a loan agreement for 181 million pounds with a consortium of international banks, including Deutsche Bank and Barclays Bank, the company said in a telegram on Tuesday.
The loan proceeds under the contract between Energoatom and Urenco will be used to finance the supply of nuclear materials – enriched and natural uranium hexafluoride.
The loan is for five years. The guarantee is provided by the UK government through the UK Export Finance (UKEF) export credit agency. No state guarantees are provided by Ukraine.
As reported, in November 2023, Energoatom and Urenco signed a contract for the supply of enriched uranium product for Ukrainian NPPs until 2035, with the possibility of its extension until 2043.
In addition, the parties have two contracts in place until 2025, under which NNEGC supplies the British company with nuclear materials.
The European Union (EU) will change the rules of entry and exit in the fall: citizens of non-EU countries will be required to register their fingerprints and facial images at the border.
As reported by the MAPA public union on Monday, the relevant changes were discussed at a meeting between representatives of the Transport Community and representatives of the European Border and Coast Guard Agency at the Ministry of Community Development, Territories and Infrastructure of Ukraine.
The changes will affect transportation and travel to 30 European countries, the statement said.
“The first change concerns the introduction of the entry-exit system (EES). From now on, all non-EU citizens will be required to register their fingerprints and facial images at the border. This process will begin in the fall of this year,” MAPA said.
Another change will take effect from mid-2025: travelers will have to submit an online application to the European Travel Authorization Information System (ETIAS) before starting their trip and pay a EUR7 fee.
MAPA clarified that in connection with these innovations, transport companies will have to make changes to their booking, document verification, passenger check-in systems and adapt their operating procedures.
The Swedish government has decided that Sweden’s electricity transmission system operator Svenska kraftnät can provide Ukraine with backup generators to maintain the country’s power supply.
According to the Swedish government’s website, the transfer includes 13 standby diesel generators that were due to be replaced in 2024, according to Svenska kraftnät’s maintenance plan. Instead of being disposed of or stored in a spare parts warehouse, the backup generators will be donated to Ukraine and used there. Regularly checking for surplus material during maintenance and reinvesting is a sustainable way to support Ukraine.
“Sweden will continue to support Ukraine and its people for as long as it takes. Russia’s attacks on Ukraine’s energy supply have been very large-scale, and the upcoming winter will be difficult. The transfer of 13 backup diesel power generators from Svenska kraftnät will make a difference. For example, they will be able to provide electricity to a hospital or be used in the power supply system itself to more effectively eliminate interruptions,” said Minister of Energy, Business and Industry Abba Bush.
Minister of International Cooperation and Foreign Trade Johann Forssell noted that today’s announcement is another step in the government’s priorities to support Ukraine.
“This is a concrete example of how Swedish support will help to restore the energy infrastructure that is in a difficult situation and heat Ukrainian homes this winter,” he said.
As reported, in May 2024, Sweden decided on a new energy package for Ukraine worth SEK 650 million. This support consists of SEK 500 million to the Energy Community’s Energy Support Fund for Ukraine and SEK 150 million through the United Nations Development Program (UNDP).
The registration period for the special session of the Unified Entrance Exam (UEE) will last from August 12 to 19, and the testing will take place from September 12 to 14, the Ukrainian Center for Educational Quality Assessment (UCEQA) reports.
“Applicants to master’s and postgraduate programs will be given the opportunity to take the Unified Entrance Exam (UEE) during the third (specially organized) session… This session will be organized for applicants who did not register for the main or additional session of the USE or registered but did not participate in it. Those who wish to improve their results and take advantage of the chance to enter the master’s / postgraduate program in 2024 can also retake this exam,” the UCEQA said in a statement.
It is noted that the third session of the EIE is held at the expense of individuals or legal entities, and the cost of this service will be announced by August 8.
The UCEQA reported that according to the calendar plan for organizing and conducting a special session of the EIE in 2024, registration of those wishing to take part in the entrance exam will continue from August 12 to 19.
“The specially organized EMI session will be held on September 12-14. The results on a scale of 100-200 points will be posted in the participants’ electronic accounts by September 24 inclusive,” the agency added.
The Center for Evaluation stressed that a specially organized session of the Unified Professional Entrance Examination (UPEE) is not planned.
As reported, more than 245 thousand participants will take the entrance exams to the master’s program in the main session.
