Kernel to increase profitability of main business segments- expert
In coming years, the profitability of the main business segments of "Kernel"* wiil be stabilized at higher levels than in FY 2013-2014, despite the fact that the revenue growth will be minimal.
This was told by the senior analyst of IG "Art Capital" Andrew Patiota in an exclusive interview to the national agroportal Latifundist.com.
At that, according to him, in the next five years new major acquisitions are not expected in any of the segments.
"The sale of non-core and unprofitable assets should be completed in FY 2015. This will improve the profitability and stable dividends since 2015 FY ", - he said.
However, the main segments of the company should not suffer from the difficult political situation in Ukraine.
"The company has no assets in the Crimea, and its refining assets in Russia generate insignificant profits. Grain and oil exported through its own port facilities in Ukraine and Russia. "Kernel" currency risks are mostly hedged (about 90%) by payments of contractors in foreign currency ", - he explained.
* Kernel listed on the Warsaw Stock Exchange. Fitch Ratings ССС
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