Kernel Holding, one of the largest operators on the oil market, increased its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) 2.5 times, or by USD 324 million, to USD 544 million in the 2022/2023 marketing year (July 2022 - June 2023) year over year.
This follows from a statement by the company, the Ukrainian News agency reports.
During the specified period, the company reduced revenue by 35.2%, or USD 1.877 billion, year over year to USD 3.455 billion.
In the 2022/2023 marketing year, the company made a net profit of USD 299 million against a loss of USD 41 million year over year.
As the Ukrainian News agency earlier reported, the Namsen Limited company (Cyprus) of businessman Andrii Verevskyi will concentrate 94% of the shares of Kernel at the expense of the additional placement of shares; the minorities will appeal this procedure in court.
In the 2022/2023 marketing year (July 2022 - June 2023), Kernel increased sales of sunflower oil (including bulk and bottled) by 17%, or by 165,500 tons, to 1.133 million tons year over year.
In the 2021/2022 marketing year, the company received a loss of USD 41 million against a net profit of USD 513 million year over year.
In addition, over the nine months of 2022/2023, the company increased net profit by 36.6%, or USD 117 million, to USD 437 million year over year.
The company has a land bank of more than 600,000 hectares - in 2017, Kernel absorbed Ukrainian Agrarian Investments and completed the implementation of the strategy to increase the land bank.
The company's enterprises produce products under the names Shchedryi Dar, Stozhar, and Chumak Zolota.
Kernel owns eight oilseed processing factories in Ukraine.
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