Kernel improved its net profit 3.7x in 9M FY2019

The net profit of the Kernel Holding S.A. group of companies totaled at USD 189.9 million in 9M FY2019 (July 2018 – June 2019), 3.7x higher y-o-y (9M FY2018: USD 50.7 million).

The company's revenue for 9M FY2019 boosted 89 per cent to USD 3,06 billion, EBITDA rose 45 per cent to USD 285.2 million.

The consolidated revenue totaled at USD 803 million in Q3 FY2019, up 48 per cent y-o-y, driven by stronger y-o-y quarterly sales of grain and sunflower oil. EBITDA for the period reduced 24 per cent to USD 55.3 million.

EBITDA of Infrastructure and Trading segment amounted to USD 18 million in Q3 FY2019. While infrastructure business performance was flat y-o-y, loss-making Avere operations pushed the total segment performance down 64 per cent y-o-y.

Earlier it was reported that Kernel's greenfield crushing plant in Khmelnytsk region would be operational in 2020. The designed capacity of the plant is 1 million tons annually, the highest to date in Ukraine.