“Kernel’s” net profit fell by more than 50%

The consolidated income of the “Kernel” agricultural holding in the 3rd quarter of the 2024 fiscal year increased by 22% compared to the same period last year.

“Kernel’s” consolidated revenue amounted to $1 billion. At the same time, net profit fell by 53% to 204 million dollars. Latifundist writes about it.

The company’s EBITDA decreased by 36% to $384 million. In particular, the EBITDA of the “Processing of oil crops” segment decreased by 34% compared to the previous quarter — to $50 million. EBITDA of the “Infrastructure and trade” segment amounted to 112 million dollars, which is 58% more than last year.

During the reporting period, the net debt of the “Kernel” agricultural holding decreased from $453 million to $308 million.

In general, “Kernel’s” financial report was well received by investors. The company’s shares on the Warsaw Stock Exchange increased by 4.7%. Since the beginning of the year, the company’s shares have risen by 22%, as the delisting process was postponed indefinitely due to the position of the Polish Financial Supervisory Authority (PFSA).