Export indicators of Kernel Holding, one of the largest operators on the Ukrainian oilseed market, make up 10% of the pre-war results.
This is stated on the company's Telegram channel with reference to an interview with the director general Yevhen Osypov to the American TV channel CNN, Ukrainian News Agency reports.
"Despite the military actions in the country, the agrarians have launched a sowing campaign, but there are difficulties with the export of finished products. This affects the country's economy. Ukraine is the world leader in the export and production of sunflowerseed oil. However, due to the war, production may fall by 40%. Today, Kernel's export performance has reached only 10% of pre-war results. Despite the fact that we export more than 7.5 million tons of product annually. We, like colleagues from other companies, are constantly working on alternative channels for the sale and delivery of products," he said.
Osypov noted that the war could be a humanitarian disaster for the whole world, while the company is doing everything possible to ensure food security.
As Ukrainian News Agency earlier reported, in the first half of the year (July-December) of the 2021/2022 marketing year (July 2021 - June 2022), the Kernel holding increased Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 8.8% or USD 49 million to USD 608 million compared to the same period last marketing year.
Besides, in the first half of 2021/2022 marketing year, the company increased its net income by 20.8% or USD 69 million to USD 401 million compared to the same period in 2020/2021 marketing year.
In the first half of 2021/2022, Kernel reduced sales of sunflowerseed oil by 14% to 619,500 tons.
The company has a land bank of more than 600,000 hectares - in 2017, Kernel absorbed Ukrainian Agrarian Investments and completed the implementation of a strategy to increase the land bank.
The company's enterprises produce products under the names Schedryi Dar, Stozhar, Chumak Zolota.
Kernel owns 9 oilseed processing plants in Ukraine.
Businessman Andrii Veriovskyi, through the Cypriot Namsen Limited, controls about 40% of Kernel.
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