UNIMOT S.A. increases forecast for 2020

Date of publication: 25.06.20

UNIMOT S.A., listed on the WSE independent importer of liquid and gaseous fuels has decided to increase the financial forecast for 2020. According to the new estimates of the Management Board the consolidated adjusted EBITDA for the entire year 2020 should amount to PLN 80 million against PLN 62.3 million assumed previously.

Having analysed the financial results for Q1 2020 and the situation in April 2020 as well as evaluation of the current market, operating and financial situation of the Group, the Management Group has decided to increase the forecast of the consolidated adjusted EBITDA by PLN 17.7 million, i.e. by 28.4% against the previously assumed PLN 62.3 million. The updated forecast of the consolidated adjusted EBITDA for 2020 amounts to PLN 80 million.

– The new value of the consolidated adjusted EBITDA has been prepared based on significantly higher than expected financial results for Q1 2020 and much better than the assumed situation in April and May 2020 – in particular in the segment of diesel and bio-fuels. We have also taken into consideration our expectations as to the external environment, which presently is quite uncertain. COVID-19 has remained a real risk to our activity in the second part of the year, and as a consequence can influence the achievement of the adopted forecast – says Mr Marek Moroz.

– I am very glad that once again we can pass very good news to the investors. This year began exceptionally well for us. Q1 is a historically good quarter and subsequent months were also significantly better than our expectations. So far, it is visible that we have been doing very well despite the situation of the COVID-19 pandemics, but at the same time I want to stress the fact that we are still on the guard and we maintain a restrictive approach to costs – emphasises Mr Adam Sikorski, President of the Management Board of UNIMOT S.A.

The updated forecast has been prepared according to the best knowledge of the Management Board as of the date of its preparation. In accordance with the declarations of the Management Board, the Group will conduct ongoing evaluation regarding the possibility of achieving the forecast and in case of its significant change – will make such information public.