26 July 2017
One of the largest Ukrainian agri-holdings significantly improved its operating performance in main segments.
Oilseeds crush, k tons
Sunflower Oil sales, k tons
Grains sales, k tons
In reporting period total volume of sunflower seeds crush has been at 910k tons, which is by more than 40% higher than in corresponding period previous season and has also been higher than in previous quarter (861k tons), which is generally non-typical for the company (second and third quarters of financial year is usually peak crushing period). Reason – good seeds supply due to record-high harvest in Ukraine.
In FY2017 total Kernel crushing volume made close to 3M tons of seeds (+275k tons vs. previous financial year). Quarterly dynamics during last years looks as follows:
Total sunflower oil sales in reporting quarter made 321k tons (+43% vs. Q4 FY2016, on the level of previous quarter). In total in FY2016 Kernel sold 1.2M tons of sunoil (+12.8% vs. FY2016).
Volume of Kernel grains sales in Q4 FY2017 made 957k tons, much higher vs. Q4 FY2016 (744k tons), in FY2017 as a whole – 5M tons (4.4M tons a year ago). Main reason - record-high crops in Ukraine (including record-high harvest of Kernel itself) and, to the lower extent, Russia.
Total volume of grains transshipment through port terminals in FY2017 made 6.1M tons (+14.2% y-o-y).
In its report Kernel has not provided its view on the current conditions of grains and oilseeds crops as of reporting date. As a reminder, after recent purchase of Ukrainian Agrarian Investment and Agro-Invest groups total land bank of the company exceeded 600k ha.
Financial report of Kernel for FY2017 is to be issued on 23 October.