November 22, 2011


Ukraine's Kernel Group grain export forecast up 20%


Ukraine's Kernel Group has increased its grain exports forecast by 20% or 0.5 million tonnes to three million tonnes for the 2011/12 marketing year, as stated by the company.


The exports are planned at the average margin of 7-8%.


The holding left the planned indicators for this fiscal year at the level of the previous forecast: US$255 million of net profit, US$370 million of EBITDA, and US$2.3 billion of earnings.


The company experts note, after abolition of export duties on grain the operations on its carriage outwards returned to its normal volumes.


As Ukrainian News earlier reported, Kernel Group exported 1.8 million tonnes of grains in the 2010/11 marketing year (MY).


Kernel Group earned a net profit of US$218.192 million for the 2010/11 MY.


Kernel Group consists of the Poltava oil extraction plant, the Prykolotne oil extraction plant (Kharkiv region), the Vovchansk oil extraction plant (Kharkiv region), grain elevators with a combined storage capacity of 2.3 million tonnes, and agricultural enterprises having 210,000 hectares of farmlands on lease.


In August 2011, Kernel Group completed the acquisition of the 71% stake in one of the largest sugar producers in Ukraine, Ukrros Sugar Union holding (Kyiv).


In July the company announced signing a tentative agreement on acquisition of Ukrainian Black Sea Industry.


In June 2010, Kernel Group closed the deal on acquisition of Allseeds Group, a major Ukrainian producer and exporter of sunflower oil.


Allseeds Group owns two oil processing plants in Kirovohrad and Mykolaiv, which have a combined capacity of more than 600,000 tonnes per year.


Allseeds Group also possesses 16 storage facilities capable of simultaneously storing 600,000 tonnes and transport enterprises.


Kernel Group's enterprises produce goods under the trademarks Schedryi Dar, Stozhar, Liubonka, and Chumak.

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