Date of publication: 24.09.21
UNIMOT S.A., the listed on the Warsaw Stock Exchange independent importer of liquid and gaseous fuels, has published its financial results for H1 2021. In this period it achieved the level of consolidated total revenues in the amount of PLN 3 303.5 million, and the adjusted EBITDA reached the level of PLN 45.5 million, which means achievement of 60% of the forecast for the entire year.
The total consolidated revenues in the amount of PLN 3 303.5 million are up by over 50% against the corresponding period of the past year. The consolidated adjusted EBITDA recorded a slight drop yoy (by 5.9%) and reached the level of PLN 45.5 million. In Q2 2021 alone, the revenues amounted to PLN 1 731.2 million (up by 75.6%), and the adjusted EBITDA PLN 17.2 million (up by 10.9% yoy).
In Q2 2021 we encountered favourable external environment in the liquid fuels segment, and we made use of it to achieve higher sales volumes and margins. Unfortunately, market prices of all the products that we trade are growing. This was particularly visible in the electricity and natural gas segment, where we were forced to limit significantly the wholesale. Apart from electricity and gas, a negative impact on the results also had: the segment of photovoltaics burdened by the costs related to its development, business of bitumens, where one could observe an aggressive price policy of suppliers, and business of oils, primarily due to growing proces of freight to Asia – says Mr Adam Sikorski, President of the Management Board of UNIMOT S.A.
H1 of 2021 in turn, is the first period of the positive adjusted EBITDA in the petrol stations segment. We ere extremely pleased with the development of this segment – we managed to achieve the profitability threshold prior to our assumptions. Since April this year, month after month the AVIA stations record increased volumes of sold fuels and also non-fuel sales – adds Mr Adam Sikorski.
In the 6 first months of this year the Group was successively developing particular businesses. In this period 9 new facilities were connected to the AVIA chain, and in total all the stations sold 73.2 million of litres of fuel, which is up by 63.4% yoy.
In the RES area, the Group became involved in the cluster Żywiecka Energia Przyszłości (Żywiec Energy of the Future) and launched the first showroom of AVIA Solar. In July we commenced, announced earlier, production of photovoltaic panels in the plant of PZL Sędziszów. The Group also commenced import of petrols and intensified the sales of heating oil in the region of north-west Poland. On 25th June 2021, UNIMOT S.A. paid the dividend for shareholders in the amount o 50% of the standalone net profit (PLN 16.2 million), which constituted PLN 1.97 per share.
Keeping an eye on the market situation and standing of our businesses we are optimistic about the months to come. We expect further good results in the diesel oil business, next record sales at the AVIA stations, and also improved situation with regard to bio-fuels and the business of photovoltaics. We also assume that despite serious market challenges – the business of LPG, electricity, and gas will function at its best. At the same time, we are still attaching importance to the costs and financial liquidity – says Mr Adam Sikorski.
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