UNIMOT: financial results for 2020 are the best ones in our history

Date of publication: 26.03.21

UNIMOT S.A., listed on the Warsaw Stock Exchange (WSE) independent importer of liquid and gaseous fuels, has published the interim statements for the year 2020. In this period the company achieved a record level of total consolidated revenues and consolidated adjusted EBITDA, which simultaneously is higher than the published forecast.

The consolidated revenues of the UNIMOT Group in 2020 amounted to PLN 4 770 million (up by 6.9% yoy). The consolidated adjusted EBITDA amounted to 87.2 million (up by 58.7% yoy) – this is the best result in almost 30-year history of the Group and simultaneously by 9.0% more than the forecast assumed. The Group achieved the consolidated net profit in the amount of PLN 34.7 million, and the net profit of UNIMOT S.A. amounted to PLN 32.3 million.

In Q4 2020 alone the consolidated total revenues amounted to PLN 1 245 million, and the consolidated adjusted EBITDA amounted to PLN 28.0 million.

– The year 2020 was a difficult period for a number of enterprises – we experienced constant uncertainty driven by the COVID-19 pandemic and introduced on an unprecedented scale restrictions, which followed it. However, thanks to our flexibility, experience and efficiency of actions, we one more time managed to spot and use the emerging market opportunities – says Mr Adam Sikorski, President of the Management Board of UNIMOT S.A.

Such high financial results in 2020 were primarily driven by favourable market environment in the diesel oil business through the most of the year (that allowed to achieve historically the highest sales volume), and also sales of significant volumes of natural gas at very satisfactory margins. In 2020 one could also feel the observed for several quarters drop in demand for B100 fuel, and also bitumen products, which resulted from suspension of road construction projects by local governments. Due to the pandemic also Unimot Energia i Gaz temporarily limited its sales activity. – Thus, we are even more pleased with achieving such good consolidated results of the Group – adds Mr Adam Sikorski.

The year 2020 was also very intense for the UNIMOT Group in the area of developing new businesses.

– Despite the uncertainty related to the COVID-19 pandemic we have not postponed our development activities. We have successfully entered a new business – sale of photovoltaic panels under the AVIA brand and we decided to launch in-house production of PV panels. We have also taken a big step towards further development in the area of widely understood Renewable Energy Sources (RES), signing an investment agreement for the development of PV farms projects of total capacity over 100 MW – says Mr Adam Sikorski. Development on the RES market is a strategic direction for the UNIMOT Group – the share of renewable energy sources shall constitute in the future a significant value added for the whole Group and contribute to further diversification of business.

The past year was also a very intense period for us with reference to development of the AVIA chain. The chain was joined by 10 stations in Poland, we introduced an innovative catering concept Eat&Go and launched an image campaign „Big Plus for…”.

– We have an optimistic outlook on the present year. We are aware of the fact that the restrictions related to COVID pandemic may last for long months – we are monitoring the situation, swiftly adjusting to it and actively seeking for the possibilities of further development. Since the beginning of the present year we have had in our team Mr Mikołaj Wierzbicki, who joined the Management Board as Vice-President for Strategy and Development of the Capital Group – additional support both with relation to the strategic side as well as development in the scope of RES – adds Mr Adam Sikorski.