Brief: Kernel Holding Q2 Net Profit Up At $190 Mln

Kernel Holding SA

29/03/2022 07:10

March 29 (Reuters) - Kernel Holding SA  KER.WA :
    * REPORTED ON MONDAY COMPANY'S FINANCIAL RESULTS FOR Q2
2021/2022
    * Q2 NET PROFIT AT $190.0 MILLION VERSUS $127.9 MILLION
ZLOTYS
YEAR AGO
    * Q2 REVENUE AT $1.88 BILLION VERSUS $1.33 BILLION YEAR AGO
    * Q2 EBITDA AT $293 MILLION VERSUS $269 MILLION YEAR AGO
    * NONE OF THE GROUP'S CRITICAL FACILITIES OR INFRASTRUCTURE
HAS
SUFFERED ANY SIGNIFICANT DAMAGE DUE TO RUSSIAN INVASION OF
UKRAINE 
    * MANAGEMENT IS FOCUSING ON ESTABLISHING ALTERNATIVE EXPORT
ROUTES
AND COMPLETION OF THE SPRING SOWING CAMPAIGN
    * IN TERMS OF NEXT SEASON HARVEST IN UKRAINE, INTERNAL
ESTIMATES
ARE A 25% YEAR ON YEAR REDUCTION IN SOWING ACREAGE UNDER SIX KEY
CROPS (CORN, WHEAT, BARLEY, SUNFLOWER, SOYBEAN AND RAPESEED) AND
35-40% DECLINE IN HARVEST OF GRAIN AND SUNFLOWER SEEDS
    * IN CASE OF THE RESUMPTION OF NORMAL EXPORT ACTIVITY, SUCH
DECLINE IN HARVEST SIZE WILL NEGATIVELY IMPACT CRUSHING MARGIN
IN OILSEED PROCESSING SEGMENT AND INFRASTRUCTURE AND TRADING
MARGINS IN GROUP'S GRAIN EXPORT VALUE CHAIN IN UKRAINE.

    
    
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 Further company coverage:  KER.WA  

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