Kernel leads among VAT refund recipients in November

In November 2020, the largest amount of VAT was refunded to the company Kernel-Trade, a Kernel subsidiary, UAH 757.7 mln, the State Treasury Service of Ukraine reports.

In the reporting period, the VAT refund was received by the following companies:

• Kernel-Trade (Kernel): UAH 952.07 mln
• Cargill: UAH 425.47 mln
• ADM Trading Ukraine: UAH 421.5 mln
• NIBULON: UAH 390.48 mln
• Glencore Agriculture Ukraine: UAH 227.46 mln
• Oliyar: UAH 200.05 mln
• SFGCU: UAH 191.22 mln
• Louis Dreyfus Company Ukraine: UAH 169.1 mln
• Suntrade (Bunge Ukraine): UAH 142.5 mln
• Mondelēz Ukraine: UAH 128.39 mln
• Grain Power: UAH 119.79 mln
• Delta Wilmar Ukraine: UAH 106.44 mln
• Katerynopilsky elevator (MHP): UAH 97.55 mln
• Allseeds Black Sea (Allseeds): UAH 95.7 mln
  
• Organic Systems: UAH 94.8 mln
• Pology Oil Extraction Plant: UAH 94.57 mln
• Agro LV Limited: UAH 89.18 mln
• Soufflet Agro Ukraine: UAH 83.05 mln
• Ambar Export BKW: UAH 81.85 mln
• OptimusAgro Trade: UAH 71.46 mln

Previously reported that analysts expect Kernel's EBITDA margin to slide to below USD 100/t at the end of the 2020 season.