Kernel posted $22 million of net loss in Q3 FY2020
03 June 2020
Kernel, one of Ukraine’s largest agroholdings and the world’s leading producer of sunflower oil, reported net loss of $22.19 million in Q3 FY2020, as compared to net profit of $15.94 million in Q3 FY2019. At the same time, revenue increased 30% to $1 billion, and EBITDA rose 88% to $104 million (Q3 FY2019: $ 55.32 million) in Q3 FY2020.
As for nine months of FY2020 (July 2019 – March 2020), Kernel’s financial results were as follows: net profit decreased 55% to $82.56 million, revenue declined 5% to $2.91 billion, while EBITDA increased 12% to $319.75 million, as compared to the same period of FY2019.