Concorde Capital analyst projected Kernel's EBITDA

Kernel's EBITDA in FY2018 (July 2017 — June 2018) will be in the range of USD 260-270 mln, down 15-20% y-o-y. Such a prognosis was made by investment analyst at Concorde Capital Andrew Perederey.

Based on the company’s operational update, analysts estimate Kernel’s 4QFY18 EBITDA from sunflower oil sold in bulk will be about USD 44/t, so the expected FY2018 EBITDA from sunflower oil sold in bulk will be about USD 65 mln, or a 21.9% decline y-o-y.

"On the other hand, the record sales of bulk oil was driven by shifting the sales volume from 4QFY17 to 1QFY18 (bulk oil sales increased 2.3x in 1QFY18) in FY2018," Andrew Perederey stressed.

Reference: in FY2018 (July 2017 — June 2018), the Kernel company increased sunflower oil sales in bulk by 20.1% to 1.3 million tons. Kernel sold 387 thou. tons of sunflower oil in bulk during Q4 FY2018, a 37% increase y-o-y, translating into record high 1.3 million tons of sunflower oil exported in bulk in FY2018, 20% up y-o-y.