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Kernel ag firm reports firmer results

TAG'S: KERNEL, Food and Drinks Industries

Key highlights:

  • Grain sales are up 2x yoy to 1.3 million tons in Q3 FY2014 benefiting from record production and export volumes out of Ukraine along with the  farmers actively selling their stock in the favorable price environment.
  • Bulk oil sales are up 52.0% yoy to 264.5 thousand tons in Q3 FY2014, with sales close to production levels.
  • Crushing volumes are up 4.4% yoy to 708.9 thousand tons on favorable sunflower seed availability resulting in close-to-full capacity utilization.
  • Export terminals throughput is up 66.0% yoy to 1.0 million tons in Q3 FY2014 on higher grain exports through both Ukrainian and Russian facilities.
  • 34 thousand hectares of winter crops (winter wheat mostly) are in good condition, with the spring planting campaign underway on 345 thousand hectares.
  • Since the severe political crisis in Ukraine that began in November 2013, the Company to date has been operating in a normal course of business both in Ukraine and Russia.

Corporate highlights:

  • Completed the divestment of a small 100,000 tons oilseed crushing plant in the Stavropol region of the Russian Federation for the enterprise value of USD 10 million.
  • Attracted USD 80 million of pre-crop financing led by a syndicate of European banks to fund the 2014 planting campaign. 

2014-04-18



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