Kernel: net profit up 3.3 times
11 December 2018
Kernel, one of the largest Ukraine’s agroholdings and the world’s leading producer of sunflower oil, reported a net profit of $ 75.5 million in the first quarter of 2018/2019 fiscal year (FY), a more than 3 times increase compared to the same period last year. The company’s revenue has doubled and equals $ 1.14 billion.
EBITDA rose 2.2 times to a record high of $ 100.5 million. The company’s net margin increased from 4.3% to 6.6%. Earnings per share also rose 3.3 times to $0.92. As reported by the company, the key drivers behind the improvement in financial performance were high volumes of grain exports and growth in trade operations by a Swiss subsidiary of Kernel Avere Commodities SA.