Financial results of UNIMOT for Q3 2019: highest adjusted EBITDA in 2019

Date of publication: 14.11.19

UNIMOT S.A., listed on the WSE independent importer of liquid and gaseous fuels, has published the report for Q3 2019. The Group has achieved the highest historically quarterly revenues in the amount of PLN 1.3 billion and highest in the current year consolidated adjusted EBITDA: PLN 18.3 million.

In Q3 2019 the consolidated revenues of the Group amounted to PLN 1,3 billion, which constituted a growth by 49.7% compared to the corresponding period of the past year. Consolidated EBITDA amounted to PLN 34.4 million (up by 110.3% yoy), and consolidated adjusted EBTDA (cleaned for the estimated valuation of compulsory reserve, justified movements and one-time events) reached the level of PLN 18.3 million (up by 124% yoy). The net profit in Q3 2019 amounted to PLN 23.8 million (up by 109.2% yoy).

– We are very pleased with another exceptionally successful quarter. We still experienced favourable external environment, particularly in the diesel business. A strong support for the results in Q3 was also higher than the budget assumptions sales of bio-fuels, following the previously won large tenders, Additionally, the Group’s results were also supported by the LPG business, electricity business, and also the new segment that comprises bitumen products and oils – says Mr Adam Sikorski, President of the Management Board of UNIMOT S.A.

For the Group Q3 2019 was also an intense period of new initiatives, changes and operational actions. The Group has been intensely developing new businesses, including sales of oils in China and development of AVIA stations in Ukraine. In August 2019 the UNIMOT Group was joined by a team of specialists in the area of import and domestic sales of bitumen products, which in recent years has achieved a significant position in this market segment in Poland.

– We are not slowing down the pace, but we the end of the year is ahead of us, which is the seasonally weakest quarter. At present, we are pleased with the market environment and level of our actions’ effectiveness. However, the previous year’s result is not for us a determinant for Q4. One should remember that the end of 2018 was a record period thanks to exceptionally high level of land premium. This time, in Q4, one should not expect results better than in Q1 – explains Mr Marek Moroz, Member of the Management Board of UNIMOT S.A. for Financial Affairs.

The current forecast of consolidated adjusted EBITDA of the UNIMOT Group for the entire 2019 amounts to PLN 46.2 million, that is by almost 150 thousand more that the cumulated result for the first 9 months of 2019. – As the results for the past three quarters of the current year were higher than our expectations, the Management Board has been working on updating the forecast. As soon as it is ready, we will make it available to the public – adds Mr Adam Sikorski.

By clicking the link you may access the presentation of the RESULTS: http://www.unimot.pl/wp-content/uploads/2019/11/2019-11-13_prezentacja_wyniki-finansowe-za-3q2019.pdf