Estimated financial results of UNIMOT for 2018 better than forecasts. Revenues and adjusted EBITDA for Q4 at record level

Date of publication: 02.04.19

UNIMOT S.A., the listed on the WSE in Warsaw independent importer of liquid and gaseous fuels, has published estimated results for Q4 and the whole of 2018. The consolidated EBITDA profit of the Group in the whole of 2018 will amount to PLN 13.8 million and will be higher by 14.9% than the forecast one.

According the preliminary estimates the revenues on sales of the UNIMOT Group in Q4 of 2018 will amount to PLN 1 007.0 million, and the EBITDA result PLN 6.7 million. The adjusted EBITDA will reach the level of PLN 18.7 million, which is the highest historical quarterly result of the Group.

– The year 2018 was exceptionally demanding for our Group – claims Mr Adam Sikorski, The President of the Management Board of UNIMOT S.A. – Due to a difficult market situation in the first half we had to face a number of challenges so as to achieve the results specified for 2018 in the Group’s strategy. The preliminary results for Q4 and the whole year confirm that we have been successful – adds Mr Sikorski.

In the last quarter of the past year the Group was operating in a definitely more favourable market environment. Thanks to this, in the main segment of our operations, that is diesel wholesale, but also bio-fuels and LPG, the Group achieved much better levels of margins and volumes than in H1of the current year. The Group also significantly reduced the cost of its operations following the introduction of the optimisation programme. This will enable the Group to achieve the forecast results for 2018 and the adjusted EBITDA in the whole of 2018 will amount to PLN 31.5 million.

– We are also reiterating our forecast for 2019 and subsequent years. We believe that we will be able to achieve the specified results as we are expecting to observe substantial results of actions we have been implementing in recent months. I mean not only over PLN 13 million of savings being the outcome of the restructuring process, but also the results of proper business decisions we are making in every area of our activity – comments President Sikorski.

The Management Board of UNIMOT S.A. also stresses that the forecast of financial results for the years 2019-2023, included in the Strategy, concerns so called adjusted EBITDA (that is cleansed of one-time events and mandatory reserve valuation). The information on the adjusted EBITDA the Company will publish together with financial results according to the previous practice.