Unimot publishes financial results for the first quarter of 2023

Date of publication: 25.05.23

Unimot has released its consolidated financial and operating results for the first quarter of 2023. The Unimot Group’s consolidated adjusted EBITDA was PLN 104.9 million, and its consolidated net profit amounted to PLN 82 million. The Management Board of Unimot has decided to recommend to the Annual General Meeting of Shareholders the payment of a dividend of PLN 13.69 per share. The Annual General Meeting of Shareholders will be held on 5^thJune, and the dividend payment date, if approved by an AGM resolution, will be set for 16^th June.

In the first quarter of 2023, Unimot Group generated total revenues of PLN 3,279 million. Consolidated adjusted EBITDA (adjusted for the estimated valuation of the compulsory (emergency) stocks of liquid and gaseous fuels, reasonable transfers of costs and revenues and one-time events) in the first quarter of 2023 amounted to PLN 104.9 million as compared to PLN 85.1 million gained in the first quarter of 2022. In the reported period, the Unimot Group’s consolidated net profit was PLN 82 million.

In the first quarter of 2023, the Unimot Group achieved robust sales volumes of diesel, petrol, and biofuels of 506,100 cubic metres (up 56% year on year) and increased sales of LPG by 45% to 77,700 tonnes as a result of the increased demand in the domestic market and meeting the fuel supply needs of the Ukrainian economy and population (delivery of fuels to Ukraine began at the end of the first quarter of 2022).

“We have repeatedly demonstrated that the Unimot Group’s speed and flexibility produce positive results, particularly in such unpredictable times since Russia launched its war on independent Ukraine’s territory. In order to secure our business, we are diversifying our revenue sources, as evidenced by the acquisition of Lotos Terminale, which was completed at the beginning of April. In addition, we are completing the value chain with logistics investments, having acquired the rail freight company Olavion in March. It should also be noted that we are expanding our expertise in fuel trading; at the end of April, we acquired 75% of Partners4Sky, which sells aviation fuel to businesses and individuals with helicopters or small airplanes. I am convinced that all these actions will have a positive impact on Unimot Group’s future performance” says Adam Sikorski, President of the Management Board of Unimot.

In April 2023, the Unimot’s Management Board decided to recommend to the Annual General Meeting of Shareholders the distribution of the PLN 117 million standalone net profit for 2022. The Management Board proposed to the Annual General Meeting of Shareholders that the profit of PLN 112 million be allocated to the payment of dividends to shareholders (PLN 13.69 per share), and the remaining PLN 5 million to reserve capital. The Supervisory Board of Unimot approved the Management Board’s proposal at its meeting on 20^th April 2023, and the Annual General Meeting of Shareholders was scheduled for 5^th June 2023. The date for determining the list of shareholders entitled to dividend payment is set for 12^thJune 2023, and the dividend payment date is set for 16^th June 2023. The aforementioned dates will be approved by the adoption of the relevant resolution by the Annual General Meeting of Shareholders.