March 5, 2024

Kernel's total financial debt during October-December 2023 decreased by more than $600 million.

Kernel Group has released its financial report for the second quarter of the financial year 2024.

According to the report, the company's total debt during October-December decreased by more than $600 million - from almost $1.5 billion to $820 million (both not including land lease obligations).

The debt was repaid mainly using the funds accumulated in the company's accounts, so cash balance of Kernel decreased from $1.056 billion to $565 million.

So, as of December 31, 2023, Kernel's debt amounted to $820 million, the amount of cash - $565 million, the company's inventory - $539 million. The group's financial position remains quite good.