Kernel spent more than $26 million to help the army and provide social support

In the last fiscal year (July 2021 – June 2022), Kernel’s revenues reached $5,332 million, which is 5% less than the same period last year. This is stated in the company’s published financial report.

The fall is due to a decrease in sales of sunflower oil and grist due to difficulties with the export of products from Ukraine in March-June this year. EBITDA indicator is $220 million, which is 73% less compared to the same period last year.

However, despite the great war and the decrease in revenues, social support became a significant part of the company’s expenditures. According to the report, Kernel financed this area by $26 million. Until February 24, the main item of expenditures was the support of regions and the development of social communities. Since the beginning of the full-scale invasion of the Russian Federation, the funds have been used to help the Armed Forces of Ukraine and Ukrainians who have suffered the most as a result of hostilities, as well as to support employees.

Almost 1.3 thousand employees of the company joined the Armed Forces of Ukraine or territorial defence units. $2.3 million was allocated for their military equipment. Unfortunately, 13 employees were killed and 51 more were wounded. The company allocated $400 thousand to support the families of the fallen heroes.

In total, Kernel purchased and supplied 23.5 thousand units of tactical equipment for the defenders of Ukraine: body armour, helmets, drones, communication means, etc. 577 units of modernised vehicles have already been delivered to the front line. “According to military requests, Kernel has provided 5 thousand tons of grain, 1 million litres of sunflower oil and more than 1.8 million units of other food products, as well as more than 800 thousand units of medicines and medical equipment free of charge,” the report says.

The company evacuated 312 employees with their families from the temporarily occupied territories or territories where active hostilities were conducted. The company allocated $558 thousand for priority security measures for the staff.

As noted in the report, Kernel will continue humanitarian activities until Ukraine wins the war. According to the website help-ukraine.kernel.ua, as of today, the total amount of support has reached over $29.7 million.