Date of publication: 04.11.19
UNIMOT S.A., the listed on the Warsaw Stock Exchange independent importer of liquid and gaseous fuels has recorded another successful quarter. Preliminary estimates of consolidated revenues of the UNIMOT Group for Q3 2019 are higher by 49.7% than in the corresponding period of the previous year and consolidated adjusted EBITDA is higher by 120.4%.
According to the estimated consolidated financial data in Q3 2019 the Group achieved PLN 1 261.4 million of revenues, that is more by 49.7% yoy. EBITDA amounted to PLN 34.4 million (up by 110.3% yoy) and adjusted EBITDA cleaned for the estimated valuation of the compulsory reserve and justified movements) PLN 18.0 million, that is by 120.4% more than in Q3 2018.
The Management Board of UNIMOT S.A. indicates the following as primary reasons behind the successful for the Group quarter: favourable external environment (both trade margins on diesel as well as market demand for petroleum products), higher than the assumed ones sales volumes of bio-fuels driven by a larger number of won tenders, and larger volumes and margins generated from the sales of LPG. The Group’s results in Q3 2019 were also influenced by lower operating costs achieved as a result of the conducted optimisation programme.
Based on estimates consolidated EBITDA adjusted for 9 months of 2019 amounts to PLN 45.8 million, which means achieving the current forecast for 2019 in the amount of PLN 46.2 million in 99%. – Following the higher than expected results for the past three quarters of the present year the Management Board will analyse the financial forecasts and if a significant change occurs we will inform the market about it – ensures Mr Adam Sikorski, President of the Management Board of UNIMOT S.A.
The estimates have been conducted according to the best knowledge of the Management Board as of the day of their preparation. The ultimate data will be published in the interim report for Q3 2019 on 13th November 2019.
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