Kernel, one of the largest Ukrainian agrarian groups, saw $44.135 million in net profit in Q2, FY2015 (July 2014-June 2015) compared to a net loss year-over-year.

According to a company report posted on its website, its revenue in October-December 2015 fell by 13.3%, to $652.53 million, with lower international sunflower oil and grain prices being the key factor behind the decline, while volume increased across all segments.

In July-December 2015 the company saw $66.44 million in net profit compared to a loss of $47.84 million year-over-year, and revenue grew by 8.2%, to $1.232 billion.

In October-December 2015, earnings before taxes, depreciation, and amortization (EBITDA) rose by 2.5 times in annual terms, to $142.3 million.

Kernel saw $38.7 million from bottled sunflower oil sales (13% down on Q2 FY2014), $284.8 million from sales of oil in bulk (5% down), $312.6 million from sales of grain (35% down), $15.6 million from export terminals (7% up) and $24.9 million from silo services (51% down).

Net debt decreased 28% year-over-year to $735.2 million as of 31 December 2014 versus $1,017.7 million as of 31 December 2013, reflecting strong cash flow generation during the last twelve months and the release of working capital caused by lower sunflower oil prices and year-over-year lower inventory levels.

The total grain and oilseed harvest increased 29% year-over-year to 1.8 million tonnes in FY2015 as a result of 16-28% growth in crop yields for major crops, following a major change in production technology and management system.

Kernel is a vertically integrated company that has been operating in Ukraine's agribusiness sector since 1994. The group produces sugar and sunflower oil, distributes bottled oil under the brand names Schedry Dar, Stozhar and Chumak Zolota, exports oil and grain, and provides elevator storage services for grain and oilseeds.