Kernel forecasts $210-250 mln EBITDA in 2018 FY
Kernel, one of the largest Ukrainian agrarian groups, forecasts EBITDA in the 2018 financial year (FY, July 2017-June 2018) at a level of no lower than $210 million.
"We expect EBITDA in the 2018 financial year to exceed $210 million, but it will be below $250 million," member of the company's board of directors Yuriy Kovalchuk said.
Kernel posted $319 million EBITDA in the 2017 FY.
Kovalchuk noted that in the 2018 FY the company plans to process 3.2 million tonnes of sunflower. The processing capacities of the agricultural holding are estimated at 3.5 million tonnes.
Due to a lower capacity load, Kernel expects a 15% decrease in EBITDA in the grain infrastructure segment in the 2018 FY. In 2017 revenues in this segment reached $110 million.
According to Kovalchuk, EBITDA in the agricultural segment in 2018 could reach $85 million against $144 million a year earlier.
Kernel Financial Director Anastasia Usacheva estimated the current level of the company's debt as "satisfactory."
She noted that the peak demand for the working capital of the group and, consequently, the maximum level of debt will be in December, and then it will be gradually decreasing.