Estimated financial results of UNIMOT S.A.: very good Q1 of 2019

Date of publication: 29.04.19

UNIMOT S.A., listed on the WSE independent importer of liquid and gaseous fuels has recorded a very successful quarter. The Company estimates that standalone financial results for Q1 2019 are much better than in the corresponding period of the previous year. Standalone EBITDA for Q1 2019 should amount to PLN 19.1 million and adjusted EBITDA PLN 7.5 million.

According to estimated standalone financial data the Company within the first three months of 2019 achieved PLN 841.8 million of revenues, which is more by 24.3% yoy. EBITDA, i.e. profit net of interests, taxes depreciation and amortisation amounted to PLN 19.1 million. Adjusted EBITDA, that is cleansed mainly for diesel reserve valuation amounted to PLN 7.5 million.

– I am glad that we can present good financial results for another consecutive quarter. The ones for the past quarter are even more satisfactory, especially as the beginning of the year is usually poor, which results directly from seasonability. High EBITDA is the result of taking advantage of a favourable external environment in the form of a relatively high land premium and strong demand for diesel. Also, the situation in the LPG and bio-fuels segment was better than we had expected. Moreover, the results of the Company in Q1 2019 were highly influenced by the conducted in the second half of the previous year restructuring plan. – explains Mr Adam Sikorski, President of the Management Board of UNIMOT.

– We are still very optimistic about the future. Considering what we achieved in Q1 we are on track to achieve the assumed PLN 34 million of adjusted EBITDA in the whole of 2019. – stresses Mr Adam Sikorski.