UNIMOT increases financial forecasts for 2019 and 2020

Date of publication: 13.12.19

UNIMOT S.A., the listed on the Warsaw Stock Exchange independent importer of liquid and gaseous fuels has once again decided to increase its financial forecasts. Presently, it expects in the entire 2019 to reach the adjusted consolidated EBITDA at the level of PLN 61.4 million and in 2020 PLN 62.3 million.

– Based on the Group’s current market as well as operating and financial condition we have decided to increase the forecasts for 2020. Our decision has been based on the positive expectations as to the level of land premium and high volumes of diesel sales. We have also considered in the financial results the incomes of the bitumen segment and expected higher than previously assumed results on natural gas – says Mr Adam Sikorski, President of the Management Board of UNIMOT.

The updated forecast has been prepared to the best knowledge of the Management Board as of the present day. – We will on a daily basis evaluate the possibility of its achievement, and should a significant change occur – as always, we will pass such information to the public – adds Mr Adam Sikorski.

Following the higher than expected results in October and November of the present year, the company has also decided to increase the forecast of adjusted consolidated EBITDA for 2019, from the level of PLN 57.6 million to PLN 61.4 million.

Simultaneously, UNIMOT has decided to change to previously valid information policy regarding publication of financial forecasts for the years to come, which are included in the current Strategy of the Group, i.e. 2021, 2022 and 2023. – The Management Board has decided to cancel the forecast of adjusted consolidated EBITDA for subsequent years and publishing it each time at the end of the preceding year. This decision has been driven by external factors, independent from us – explains Mr Adam Sikorski.

The abovementioned factors include primarily significant market changes that have occurred since the Strategy was adopted (problems of one of the competitors) and which, according to the announcements, will take place in the future (merger of two leading fuel concerns) – These circumstances are very likely to have an impact on the future years’ forecasts and evaluating this impact at the moment is impossible – adds Mr Adam Sikorski.