The agro-industrial company Kernel intends to enlarge its annual grain export numbers up to 15M t in a couple of years, as per the company’s information.
“I believe that we can achieve our strategic plan of 15M t exported yearly even earlier than 5 years. Taking into account this year’s outcome, we build our next plans with more ambitions”, Kernel DG Yevgeny Osipov announced at a conference for the company’s Grains and Oilseeds Procurement Department employees.
According to Oleksandr Golovin, Kernel’s Director for Grains and Oilseeds Procurement, the group plans to purchase 12M t of grain and sunflower seeds for the 2022-2023 marketing year, which will enable them to reach a record export number for Ukraine.
In 2021 financial year (FY, July 2020 – June 2021) Kernel increased grain exports by 1% compared to the previous FY – up to 8.013M t. The port terminals of the holding increased their transhipment by 22% – up to 8.159M t.
Oilseed processing decreased by 7% – down to 3.183M t, sales of sunflower oil – by 10%, to 1.367M t.
Kernel is the world’s largest producer and exporter of sunflower oil, a leading manufacturer and supplier of agricultural products from the Black Sea region to world markets. The vertically integrated structure of the company is based on closely related business segments: production, export and domestic sales of sunflower oil, plant growing, export of grain crops, provision of services for storage and transhipment of grain at elevators and port terminals.
Kernel owns the TransBulkTerminal and TransGrainTerminal facilities in Chornomorsk sea port. The company completed modernization of TransBulkTerminal technological lines, increasing its annual capacity to 4M t, and planned to complete the TransGrainTerminal construction with annual capacity of 5M t by the end of 2020. Atop of grain, the terminals handle sunflower meal and sunflower oil.
In September 2019, USPA and Kernel signed an agreement on cooperation envisaging investments in development of the Chornomorsk Port infrastructure amounting to more than UAH 3Bn. The volume of Kernel’s investments will amount to about UAH 3Bn, of USPA –some UAH 230 million. The agreement stipulated Kernel’s guarantees to ensure its annual cargo traffic of at least 6M t.
The group Kernel Holding S.A. as a holding company is listed at Warsaw Stock Exchange since 2007. The company’s largest shareholder is Andriy Verevsky through Namsen Ltd, owning 39.97%. Cascade Investment Fund (Cayman Islands), the beneficiary of which is Vitaly Khomutynnik, owns 6.59% of the stock.
In FY 2020 the company reduced its net profit by 31% compared to FY 19, to $123M. the revenue increased by 4% to $4.107Bn, EBITDA – by 28% to $443M.
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