Kernel reduced EBITDA by 13% in the second quarter of FY
28.02.2026 - 12:01
In the second quarter of 2026, Kernel generated EBITDA of $103 million, down 13% from the same period last year.
This was reported by Interfax-Ukraine with reference to the company’s report.
According to it, in the second quarter of 2026, consolidated revenue amounted to $1 billion 98 million, down 4% from the second quarter of 2025. However, compared to the previous quarter, revenue increased by 33% due to increased sales of grain, oils and meal.
The loss from changes in the fair value of biological assets in the second quarter of 2026 amounted to $43 million compared to $33 million in the second quarter of 2025.
The cost of goods sold increased by 28% compared to the previous quarter. This mainly reflects higher resale value and raw materials used, as well as a 55% increase in shipping and handling costs, driven by increased insurance premiums amid increased Russian attacks on civilian vessels. USM previously reported that Kernel plans to invest $400 million in energy projects.
