Kernel’s revenue increased to $1 billion, net profit fell by more than 50%
The consolidated income of Kernel agroholding in Q3 of FY2024 increased by 22% year-on-year to $1 billion, the company said in a report.
The company’s revenues decreased by 4% to $2.6 billion, EBITDA decreased by 36% to $384 million, and net profit fell by 53% to $204 million.
Kernel’s net debt decreased from $453 million to $308 million during the quarter.
EBITDA in the Oilseeds Processing segment decreased by 34% quarter-on-quarter to $50 million.
EBITDA in the Infrastructure and Trade segment amounted to $112 million, up 58% year-on-year.
EBITDA of the Agriculture segment amounted to $16 million.
“Kernel’s financial report was well received by investors. The company’s shares, which are traded on the Warsaw Stock Exchange, rose by 4.7% to 11.14 zlotys last week (market capitalization of $830 million). “Since the beginning of the year, Kernel’s shares have risen by 22% as the delisting process was postponed indefinitely due to the position of the Polish Financial Supervisory Authority (PFSA),” Eavex Capital noted.
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon