Kernel’s revenue increased to $1 billion, net profit fell by more than 50%

Source:  Latifundist

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.

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