Brief: Kernel Holding Q2 Net Profit Down At $206.6 Mln

Kernel Holding SA

06/03/2023 06:40

March 6 (Reuters) - Kernel Holding SA  KER.WA :
    * REPORTED ON FRIDAY H1 AND Q2 FINANCIAL RESULTS 
    * H1 NET PROFIT AT $368.1 MLN VERSUS $423.8 MLN A YEAR AGO
    * Q2 NET PROFIT AT $206.6 MLN VERSUS $213.0 MLN A YEAR AGO
    * Q2 REVENUE AT $1.24 BLN VERSUS $1.88 BLN A YEAR AGO
    * Q2 PROFIT FROM OPERATING ACTIVITIES AT $244.4 MLN VERSUS
$250.2
MLN A YEAR AGO
    * GROUP'S DEBT LIABILITIES AS OF 31 DECEMBER 2022 DECLINED
BY 2%
QUARTER ON QUARTER, TO $1,727 MILLION
    * NET DEBT REDUCED BY 30% OVER Q2 FY2023, TO $1,048 MLN AS
OF 31
DECEMBER 2022
    * CAUSED BY DIFFICULTIES WITH THE BLACK SEA LOGISTICS, THE
GROUP'S
GRAIN EXPORTS FROM UKRAINE IN Q2 FY2023 REDUCED BY 56% YEAR ON
YEAR, TO 1.5 MLN TONNES
    * IN FEBRUARY 2023, KERNEL ACQUIRED A GRAIN TERMINAL IN THE
RENI
PORT OF UKRAINE 
    * THE TERMINAL HAS FLAT WAREHOUSES WITH A ONE-TIME STORAGE
CAPACITY OF 12,000 TONNES, AND THE ACQUISITION IS PART OF
KERNEL'S STRATEGY TO SECURE BACKUP OPTIONS IN CASE THE BLACK SEA
PORTS BECOME INACCESSIBLE AS A RESULT OF THE TERMINATION OF THE
GRAIN DEAL IN MARCH 2023

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM9TXG15a
 Further company coverage:  KER.WA  

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