Kernel receives US$ 130mn in VAT T-bills
During the company’s conference call yesterday, management said it plans to use the VAT T-bills as collateral to attract additional bank debt..

• Country: Ukraine 
• |
• Sector: Consumer, Non-Cyclical 

• Company: Kernel Group 

Agro Ministry cuts harvest outlook to 40.5mmt
The ministry’s outlook looks conservative, in our view, and we retain our 2010/11 harvest projection of 41.9mmt (-9% y/y)...

• Country: Ukraine 
• |
• Sector: Consumer, Non-Cyclical 

Kernel posts strong 4Q10, largely flat FY10 financials
Management also provided FY11 guidance: EBITDA of US$ 255mn (+36% y/y) and net income of US$ 195mn (+28% y/y)...

• Country: Ukraine 
• |
• Sector: Consumer, Non-Cyclical 

Astarta doubles 1H10 revenue, EBITDA y/y
On the operating side, the company said it is ready to start the sugar-making season with daily capacity of 27,000t (+29% y/y)...

• Country: Ukraine 
• |
• Sector: Consumer, Non-Cyclical 

• Company: Astarta 

Avangard reports robust 1H10 results
Revenues gained 68% y/y to US$ 166mn, EBITDA was up 47% y/y to US$ 64mn, while the EBITDA margin slipped 6ppts y/y to 38%...

• Country: Ukraine 
• |
• Sector: Consumer, Non-Cyclical 

• Company: Avangard