A distinct improvement of results in UNIMOT. The Company publishes estimates of the results for Q3 of 2018

Date of publication: 30.10.18

UNIMOT S.A. has published estimates of standalone financial results for Q3 2018. According to preliminary calculations the revenues on sales in the Company for the last 3 months will amount to PLN 828 million and EBITDA will reach the value of PLN 13.9 million.

The Management Board of UNIMOT estimates that the standalone EBITDA profit in Q3 of the current year will amount PLN 13.9 million. In the same period the Company will also reach a higher than in the previous two quarters level of revenues in the amount of PLN 828 million, demonstrating a positive dynamic on sales of all product groups.

In the incremental grasp in turn, the cumulated EBITDA for 9 months of 2018 will amount to PLN 3.7 million, which means that the Company will recover the loss it recorded after Q1 of 2018.

– After a relatively difficult half of the year in Q3 UNIMOT significantly improved its financial results – explains Mr Adam Sikorski, the President of UNIMOT S.A. – According to our preliminary calculations in the analysed quarter the Company recorded growth in the volumes and values of EBITDA in all basic operating segments, and achieved revenues in sales are higher than in the corresponding period of the previous year. A significant influence on better results of this quarter had higher levels of margins that were achieved by UNIMOT on sales of diesel and LPG. Moreover, the Company recovered a large part of costs that it had incurred in previous two quarters following the sales of diesel in accordance with the previously valid legal status.

It is worth emphasising that the improved situation of UNIMOT is also the outcome of the changes that occurred in the Company’s Management Board in the second half of August of the current year. Let us recall that by the decision of the Supervisory Board Mr Maciej Szozda was removed from the position of the President of the Management Board and it was taken over by Mr Adam Sikorski – the former President of the Supervisory Board and co-founder of the Company. In accordance with the declaration he made the new President of UNIMOT in a faster and much more effective way implements the restructuring processes in the Group, which translates into cost optimisation. The effects of these actions will be visible already in the results for Q4 of 2018, and the full picture – since the beginning of 2019.