Kernel Ups EBITDA By 11.3% To USD 600 Million, Cuts Earnings By 44.8% To USD 2.7 Billion In 9M, 2022/2023

In the first nine months (July-March) of the 2022/2023 marketing year (July 2022 - June 2023), Kernel Holding, one of the largest operators in the oil market, increased its Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 11.3%, or USD 61 million, to USD 600 million compared to the same period last year.

The company has said this in a statement, Ukrainian News Agency reports.

The company reduced earnings by 44.8%, or USD 2.2 billion, to USD 2.715 billion over the same period 2021/2022.

At the same time, the company increased its net profit by 36.6%, or USD 117 million, to USD 437 million.

As Ukrainian News Agency earlier reported, in May, Namsen Limited (Cyprus) of businessman Andrii Verevskyi, as a result of share purchase transactions, increased its stake in Kernel by 36% to 74.05%.

In the 2021/2022 marketing year, Kernel made a loss of USD 41 million against a net profit of USD 513 million in the 2020/2021 marketing year.

For the specified period, the company reduced revenue by 4.7% or USD 0.263 billion to USD 5.332 billion compared to 2020/2021 marketing year, and EBITDA - 3.7 times to USD 220 million.

The company's enterprises produce products under the names Shchedryi Dar, Stozhar, Chumak Zolota.

Kernel owns 9 oilseed processing factories in Ukraine.