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UNIMOT Group: exceptionally successful 1H 2019

Date of publication: 22.08.19

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UNIMOT S.A., listed on the WSE independent importer of liquid and gas fuels has published financial results for H1 2019. In this period the Group achieved PLN 1 877.7 million of consolidated revenues and PLN 27.8 million of adjusted EBITDA, while consolidated net profit amounted to PLN 24.3 million.

 

Within the first 6 months of 2019 the consolidated revenues were by 23.4% higher than in the corresponding period of the previous year and reached the level of PLN 1 877.7 million. The Group achieved consolidated EBITDA in the amount of PLN 37.8 million (PLN -3.8 million a year ago), and consolidated adjusted EBITDA (adjusted primarily by compulsory reserve valuation) amounted to PLN 27.8 million (PLN 4.4 million a year ago). In the 2nd quarter alone the revenues amounted to PLN 1 007.9 million, EBITDA PLN 14.9 million, and adjusted EBITDA PLN 16.7 million.

 

The beginning of the present year was exceptionally successful for us – both in market as well as typically operational respect. Achieved in the first half results were significantly higher than our internal assumptions and allowed us to achieve our base forecast for this year in over 80%. Therefore, we have decided to increase its level – says Mr Adam Sikorski, President of the Management Board of UNIMOT. Currently, the Group expects to achieve in 2019 consolidated adjusted EBITDA at the level of PLN 46.2 million.

 

Significantly better yoy financial results of the Group were primarily driven by making use of favourable market environment in the diesel business, won tenders in bio-fuels, higher volumes and margins in the LPG business, good result in wholesale electricity trade in Tradea company and lower operating costs being the result of conducted optimisation programme.

 

The period of first six months of the present year was also abundant in business events vital for the UNIMOT Group. In June UNIMOT S.A. took over 20% of the shares in the company Green Electricity sp. z o.o., operator of blinkee.city platform, which offers services of renting moto scooters and scooters in Poland and Europe. In the same month the proces of selling the business of LPG cylinders to Gaspol S.A. was completed, which resulted from the assumption to concentrate only on most margin-effective businesses in the Group. Additionally, in H1 2019 the Group commenced the operating activity in the company UNIMOT Asia LLC with its registered office in Shanghai, introducing to the trade on the Chinese market oils and lubricants under the AVIA brand. Also, first AVIA stations were launched in the territory of Ukraine – currently there are four stations in this country.

 

In the next months of 2019 we will work on further efficient utilisation of favourable market environment, including high demand and satisfying levels of diesel land premium. We also expect positive results of recently won tenders for bio-fuels. An important activity will also be finalising the process of natural gas assets optimisation, that is completing the proces of partial disinvestment and entering into the market of asphalts thanks to the team of experts who have just joined us – announces Mr Adam Sikorski.

 

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