Business news from Ukraine


28 May , 2015  

KYIV. May 28 (Interfax-Ukraine) – Kernel, one of the largest Ukrainian agrarian groups, saw $7.2 million in net profit in Q3 of FY2015 (July 2014- June 2015), while its net loss year-over-year stood at $25.1 million, the company said in a report.

The company said that its revenue fell by 10% year-over-year, to $607 million as the result of a decline in international agriculture commodity prices.

Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 54%, to $115.2 million, and EBITDA margin from 11.1% to 19%.

In Q3 2015 Kernel’s revenue from sales of sunflower oil sold in bulk totaled $275.1 million, which was 11% down year-over-year, that for bottled oil – $26.8 million (18% down). Grain trading brought $299.2 million to the company (3% down), export terminals – $16.7 million (26% up), silo services – $4.8 million (63% up) and farming – $46.7 million (34% up).

In 9M of FY2015 Kernel’s net profit stood at $85.5 million compared to net loss of $67.6 million year-over-year. Revenue grew by 1%, to $1.838 billion, and EBITDA soared by 2.5 times, to $338 million.

Kernel is a vertically integrated company that has been operating in the Ukrainian agribusiness sector since 1994. The group produces sugar and sunflower oil, distributes bottled oil under the brand names Schedry Dar, Stozhar and Chumak Zolota, exports oil and grain, and provides elevator storage services for grain and oilseeds.