The Warsaw Stock Exchange’s WIG-Ukraine index fell 6.36% to 555.65 points on Friday after Kernel Holding S.A. (Luxembourg), the holding company of the Kernel group (one of the largest agricultural groups in Ukraine) released disappointing financial results for the 2013 fiscal year (July 2012-June 2013).
According to the Warsaw Stock Exchange, at the same time there was a record volume of trading in the holding company’s shares (PLN 118.4 million or UAH 312.1 million), compared with just over PLN 1 million (UAH 2.64 million) in all the other shares in the index.
The net profit of Andrii Verevskyi’s Kernel agricultural holding reduced by 46.2% to USD 111.3 million in the fiscal year 2013. At the same time, Kernel’s revenue increased by 35% to USD 2.8 billion, its EBITDA reduced by 9.8%, and its EBITDA margin reduced by 5.1 percentage points to 10.3%.
A company controlled by the manager of the Kernel group acquired 175,000 shares in Kernel Holding S.A. on the Warsaw Stock Exchange from October 25 to 28.
