It is a little late but better late than never so here comes the summary for the first quarter of Kernel. The market probably accepted the report very well because back when it got published the share price was looking much better than what it looks like today.
For the full report please go here and to check out the previous summary then please visit Kernel annual report 2015 and to find out more about Kernel then click on analysis of Kernel 2015.
In the financial statement below we see something similar to what my Italian friend once taught me that "Donne e motori, gioie e dolori" because the revenue has dropped by around -35% but happily the costs of sales have dropped equally much and bottom line we end up with pretty much flat earnings compared to in 2015 so at least that is good news.
Conclusion: Kernel keeps profiting from the low valuation of the Hryvnia, they keep bring down their debt but there are also many clouds in the sky as there always is when involved in the agricultural business and on top of that in a country that is currently not providing good peaceful conditions to operate in. Since I decreased my position in Kernel I am very happy with what I have left and I will keep my shares.
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