Kernel posts $164 mln net profit in H1, 2019FY
Kernel, one of the largest Ukrainian agricultural groups, received $164 million of net profit in the first half of the 2019 fiscal year (FY, July 2018-June 2019), which is 83% more than in the same period last year.
According to the company's financial report on the website, its revenue in July-December 2019 FY increased by 2.1 times, $2.255 billion.
The operating profit of Kernel rose by 2.4 times, to $193.4 million, EBITDA by 1.9 times, to $229.9 million.
According to the company, the group's revenue from oilseeds processing grew by 9%, to $736.5 million, from infrastructure segment and sales in July-December 2019 FY by 4.2 times, to $1.741 billion, from crop production by 22%, to $342.5 million.
According to the report, the company plans in the 2019 FY to process 3.1 million tonnes of sunflower and export 6-6.2 million tonnes of grain.