By KYIV. Nov 16 (Interfax-Ukraine) – Kernel, one of the largest Ukrainian agro-industrial groups, in the 2022 fiscal year (FY, January-March 2022), saw a $41 million net loss versus $506 million in net profit in the previous financial year.
According to a financial report on the company’s website posted on Wednesday night, the agricultural holding’s revenue in FY2022 fell by 5% to $5.332 billion.
Gross profit fell 28% to $652 million, operating profit fell 86.9% to $91 million, and EBITDA fell 73% to $220 million.
The main reason for the deterioration of indicators was the armed aggression of the Russian Federation.
As reported, in the nine months of FY2022 (July 2021–March 2022), the group of companies received $297 million in net profit (14% less compared to the same period in FY 2021), $650 million in EBITDA (3% less) and $4.92 billion in revenue (23% more).
