Kernel Holding S.A.

Kernel Holding S.A.

KARNF
Kernel Holding S.A.US flagOther OTC
5.20
USD
- -
- -
1.52BMarket Cap
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
TTM
Revenue per Share
26.18
35.1
30.03
29.23
24.96
27
29.33
48.33
49.49
66.58
66.49
44.62
13.94
13.9
Basic EPS, GAAP
2.61
1.4
-1.23
1.34
2.83
2.19
0.64
2.31
1.42
6.1
-0.51
3.86
0.65
0.62
Free Cash Flow per Basic Share
-1.54
2.35
0.4
4.72
1.25
0.41
-0.97
0.08
0.55
3.29
-7.55
8.1
1.27
0.57
Dividend per Share
- -
- -
- -
0.25
0.25
0.25
0.25
0.25
0.25
0.42
0.42
- -
- -
- -
Book Value per Share
10.45
11.91
10.68
11.64
14.22
16.03
16.12
18.21
19.12
24.4
24.34
27.46
8.95
8.56
Tangible Book Value per Share
12.41
12.94
10.01
9.02
10.52
11.68
11.83
13.71
15.7
21.01
18.59
21.13
7.07
6.84
Basic Weighted Avg Shares
79
80
80
80
80
80
82
82
83
84
80
77
257
293
Sales/Revenue/Turnover
2,072
2,797
2,393
2,330
1,989
2,169
2,403
3,960
4,107
5,595
5,332
3,455
3,581
4,078
Operating Margin (%)
12.69
6.26
4.26
11.96
13.71
12.11
5.83
6.95
8.38
12.25
9.1
12.35
13.18
10.73
Depreciation Expense
66
90
94
68
60
54
83
76
106
116
130
105
105
108
Net Income, GAAP
207
112
-98
107
225
176
52
189
118
513
-41
299
168
182
Effective Tax Rate (%)
- -
5.1
- -
0.94
1.58
9.54
- -
6.25
15.24
6
- -
18.77
20.58
22.62
Profit Margin (%)
9.98
3.99
-4.11
4.59
11.32
8.13
2.17
4.78
2.87
9.16
-0.77
8.66
4.69
4.47
Working Capital
672
390
275
200
347
827
729
777
1,118
1,367
285
543
788
1,357
LT Debt
427
276
260
95
84
502
505
565
1,231
1,109
200
167
143
530
Total Equity
1,211
1,352
1,031
891
997
1,158
1,178
1,346
1,494
1,949
1,686
1,744
1,866
2,054
Return on Invested Capital (%)
- -
8.18
- -
17.48
19.7
14.94
- -
12.81
11.83
20.71
- -
9.88
11.75
11.79
Return on Capital (%)
- -
11.23
- -
11.82
19.02
13.21
- -
12.43
8.77
20.46
- -
10.99
7.14
7.42
Return on Common Equity (%)
26.1
12.57
-10.92
12.02
21.85
14.56
4
13.47
7.66
28.19
-2.05
14.67
7.59
7.52

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'25
ST Debt
961
813
216
LT Borrowings
- -
- -
374
LT Finance Leases
150
128
157
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
293
293
293
Market Capitalization
- -
786
1,572

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'25
Total Current Assets
2,359
2,171
2,056
Cash, Cash Equivalents & STI
1,079
868
760
Accounts Receivable, Net
292
256
324
Inventories
566
552
533
Total Current Liabilities
1,460
1,242
698
Payables & Accruals
- -
- -
- -
ST Debt
961
813
216
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.89%
7.68%
7.01%
Free Cash Flow
104.48%
111.91%
-48.06%
Net Income, GAAP
-60.96%
-136.52%
-43.86%
Sales/Revenue/Turnover
7.1%
0.74%
3.66%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
546
1,044
1,005
987
3,581
2025
1,098
1,180
1,145
826
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.21
0.45
0.34
- -
0.65
2025
0.08
0.3
0.14
0.33
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -

Company Description

APIChatGPT
CEO
Yevgen Osypov
Full Time Employees
10,817
Sector
Consumer Defensive
Industry
Food Distribution
Address
3 Tarasa Shevchenka Lane Kiev KO Ukraine 01001
IPO Date
May 27, 2014
Website
kernel.ua
Business
Kernel Holding S.A. (KER.WA) is a Luxembourg-incorporated, vertically integrated agribusiness company primarily engaged in the production, processing, export, and trading of grains, oilseeds, sunflower oil, and related products; it operates as the world's leading producer and exporter of sunflower oil, accounting for approximately 8-9% of global sunflower oil exports, and Ukraine's largest grain exporter with a 10% share of national grain exports. The company conducts its activities through three main segments: Oilseed Processing, which encompasses sunflower seed crushing with 4.0 million tons annual capacity, production and sale of bulk and bottled sunflower oil under brands such as Stozhar, Shchedry Dar, and Chumak, sunflower meal, and renewable energy generation from biomass via co-generation facilities; Infrastructure and Trading, including grain origination and merchandising, operation of export terminals with 11 million tons annual transshipment capacity at ports such as Chornomorsk, Pivdennyi, and Reni, inland silo storage of 2.2 million tons, a fleet of 3.4 thousand railcars, vessel operations, and proprietary trading via Avere Commodities; and Farming, involving cultivation across 358 thousand hectares focused on wheat, corn, soybeans, rapeseed, sunflower seeds, barley, peas, forage, and sugar beets using precision agriculture and sustainable practices. Kernel markets its products to over 60 countries worldwide, with primary operations in Ukraine and international trading presence in Switzerland, the Netherlands, India, China, Hong Kong, Singapore, Spain, and the UAE through subsidiaries such as Inerco Trade S.A., Avere Commodities SA, Estron Corporation Ltd, and Kernel Mideast Trading DMCC; it serves wholesale buyers, exporters, food manufacturers, and end consumers. Founded in 1995 and headquartered at 3 Tarasa Shevchenka Lane, Kyiv, Ukraine, the company is a subsidiary of Namsen Limited and has been listed on the Warsaw Stock Exchange since November 2007. In recent developments within the last two years, Kernel commissioned Ukraine's largest greenfield oilseed processing plant in February 2024 with capacity to process 231 thousand tons annually, launched a 20 MW biomass-powered renewable energy facility in December 2023 generating USD 24 million in EBITDA, acquired and revitalized a vegetable oil export terminal in Chornomorsk starting operations in January 2024, and purchased the OilExportTerminal at Pivdennyi port for enhanced oil transshipment; it also secured a landmark USD 150 million syndicated pre-export financing facility from international banks including ING, Rabobank, and the Black Sea Trade and Development Bank in 2025—the first such deal since the war began—joined FMO's financing as its inaugural direct Ukraine investment, redeemed USD 300 million Eurobonds on maturity in October 2024, issued Ukraine's first commodity agrarian note, advanced decarbonization via Science Based Targets initiative membership for its Poltava plant and CDP 'B' climate rating, and sustained operations amid war-related challenges including asset damages from Russian attacks on facilities in Chornomorsk, Vovchansk, and Prykolotne.