The agricultural exporter Kernel-Trade and the company specializing in wholesale trade in metals and metal ores Polyus Trading topped the list of the largest recipients of budgetary value added tax (VAT) refunds in August with an indicator of over UAH 1 billion, according to data of the State Treasury Service.
According to them, Kernel-Trade received almost UAH 1.6 billion of VAT refunds last month, Polyus Trading – UAH 1.095 billion, while there is no information on the budgetary refund of this tax to these companies in July.
The top five largest recipients of budgetary VAT refunds in August were also two steel plants – Zaporizhstal – UAH 407 million (in July – UAH 282 million) and ArcelorMittal Kryvyi Rih – UAH 386 million (UAH 315 million), as well as the agricultural exporter ADM Ukraine – UAH 231 million (UAH 159 million), the State Treasury Service said.
The second top five in the list are opened by Poltava Mining and Processing Plant – UAH 182 million (UAH 187.3 million) and Pivdenny Mining and Processing Plant – UAH 170 million (there are no data on reimbursement in July).
The top ten are closed by Viterra Ukraine – UAH 163 million (UAH 194.7 million), Yeristovo Mining and Processing Plant that topped the July list – UAH 157 million (UAH 383 million), as well as AGT – UAH 144 million (UAH 306.2 million), according to the treasury data.
The third five largest recipients in August looked like this: Mykolaiv Alumina Plant – UAH 121 million (UAH 120 million), Nikopol Ferroalloy Plant – UAH 110 million (UAH 190.5 million), Optimusagro Trade – UAH 96 million (UAH 144 million), and Leoni Wiring Systems UA GMBH – UAH 94 million (UAH 200 million).
Two more companies received over UAH 90 million in VAT refunds in August: Nika-Agrotrade – UAH 91 million (UAH 143 million) and Mondelez Ukraine – UAH 90 million (UAH 45 million).
According to the State Treasury Service, in general, in August 2021, budgetary reimbursement decreased to UAH 10.78 billion compared to UAH 11.15 billion in July and UAH 11.99 billion in June.
Kernel, one of the largest Ukrainian agrarian groups, intends to increase grain exports from Ukraine from 8.5 million to 10 million tonnes in the 2021/2022 fiscal year (July-June), Kernel CEO Andriy Verevsky said during a conference call with analysts.
“We plan to export more than 10 million tonnes of grain in the next fiscal year,” he said.
According to the company, in January-March 2021, Kernel reduced grain exports from Ukraine by 15% compared to January-March 2020, to 1.8 million tonnes.
Kernel said that in the first nine months of the current FY it has fulfilled 75% of its plan for the export of grain from Ukraine, which the company set for this year at 8.5 million tonnes.
In October 2020, the agricultural producer announced plans to increase grain exports from Ukraine in 2020/2021 FY by 20.3%, to 9.5 million tonnes, and sunflower crushing by 1.7%, to 3.5 million tonnes.
Kernel is a large producer and exporter of sunflower oil.
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Kernel, one of the largest Ukrainian agrarian groups, in the third quarter of fiscal year 2021 (FY, began in July 2020), reduced sales of sunflower oil by 2% compared to the same period in the previous FY, to 371,920 tonnes.
According to a report posted on the company’s website on Friday, the share of bottled oil of total sales was 10% (37,000 tonnes).
Kernel processed 902,000 tonnes of oilseeds in Q3 FY2021, down 4% y-o-y due to the low harvest of sunflower seeds in Ukraine this season.
According to the report, grain export volume from Ukraine in January-March 2021 dropped 15% y-o-y, to 1.8 million tonnes, of which 1.3 million tonnes had been originated from external suppliers and the remaining had been produced by company’s farming division. Slowdown in the grain export volume was caused mostly by a substantial grain harvest reduction this season in Ukraine (including company’s farming operations) and the respective decline of the exportable grain surplus for the country.
The company’s export terminal throughput volume in Ukraine increased to 2.1 million tonnes in Q3 FY2021, up 6% y-o-y. Transshipment volume exceeded the grain export volume from Ukraine, as the company substantially increased the scale of sunflower meal transshipment operations on its terminals in Chornomorsk, with such goods being exported through third-party terminals before.
The holding cut grain and oilseeds received in inland silos by 12% in Q3 FY2021, to 109,021 tonnes.
Kernel in 9M FY2021 increased sales of sunflower oil by 6% compared to the same period in the previous FY, to 1.09 million tonnes, sunflower processing increased by 2%, to 2.57 million tonnes.
In 9M FY2021, grain exports from Ukraine grew by 5%, to 6.35 million tonnes.
According to the document, Export terminal’s throughput of the holding in Ukraine for 9M FY2021 grew by a third, to 6.31 million tonnes. During this period, the agricultural holding reduced grain and oilseeds received in inland silos by 9%, to 3.7 million tonnes.
Kernel is a large producer and exporter of sunflower oil. The largest co-owner of Kernel through Namsen Ltd. is Andriy Verevsky with a 39.16% share. Cascade Investment Fund (Cayman Islands), the beneficiary of which is the ex-deputy of the Ukrainian parliament Vitaliy Khomutynnik, owns 6.59% of Kernel’s shares.
Kernel, one of the largest Ukrainian agrarian groups, in the third quarter of fiscal year 2021 (FY, began in July 2020), reduced sales of sunflower oil by 2% compared to the same period in the previous FY, to 371,920 tonnes.
According to a report posted on the company’s website on Friday, the share of bottled oil of total sales was 10% (37,000 tonnes).
Kernel processed 902,000 tonnes of oilseeds in Q3 FY2021, down 4% y-o-y due to the low harvest of sunflower seeds in Ukraine this season.
According to the report, grain export volume from Ukraine in January-March 2021 dropped 15% y-o-y, to 1.8 million tonnes, of which 1.3 million tonnes had been originated from external suppliers and the remaining had been produced by company’s farming division. Slowdown in the grain export volume was caused mostly by a substantial grain harvest reduction this season in Ukraine (including company’s farming operations) and the respective decline of the exportable grain surplus for the country.
The company’s export terminal throughput volume in Ukraine increased to 2.1 million tonnes in Q3 FY2021, up 6% y-o-y. Transshipment volume exceeded the grain export volume from Ukraine, as the company substantially increased the scale of sunflower meal transshipment operations on its terminals in Chornomorsk, with such goods being exported through third-party terminals before.
The holding cut grain and oilseeds received in inland silos by 12% in Q3 FY2021, to 109,021 tonnes.
PrJSC Poltava Oil Crushing Plant, one of the largest producers of sunflower oil in Ukraine, saw UAH 104.65 million in net loss in 2020 versus UAH 63.15 million in net profit a year earlier.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission, its assets during the year grew by 1.7%, to UAH 1.32 billion, and the uncovered loss amounted to UAH 49.29 million versus UAH 54.92 UAH million of net profit a year earlier.
According to the results of the year, the total accounts receivable of PJSC Poltava Oil Crushing Plant decreased by 65.5%, to UAH 180.19 million.
According to the report, at the annual meeting of shareholders scheduled for April 16, it is planned to obtain approval for the company to carry out significant transactions with a total value of up to UAH 5 billion, which can be used by the company to conduct business in 2021. The agenda of the meeting also includes the appointment of Niva-Audit to conduct a statutory audit of the company’s financial statements for 2019.
According to the unified public register of legal entities and private entrepreneurs, the Poltava Oil Crushing Plant belongs to the largest shareholder of the Kernel agricultural holding Andriy Verevsky.
Agricultural holding Kernel, one of the largest in Ukraine, in the second quarter of fiscal year 2021 (FY, began in July 2020) saw $170.64 million in net profit, a rise of 3.8-fold year-over-year.
According to the company’s report posted on Friday, its revenue in October-December 2020 grew by 28.5%, to $1.327 billion.
The company said that in H1 FY2021 its net profit amounted to $404.02 million, and revenue reached $2.267 billion, a rise of 3.9-fold and 20.4% year-over-year respectively.
Kernel said that EBITDA in Q2 FY2021 increased 2.5-fold, to $269 million, and in H1 FY2021 – 2.6-fold, to $559 million.
The company said in the report that a grain price boom and oilseeds price hikes created an opportunity momentum for trading business.
