Unimot has released estimated consolidated financial results for Q1 2025. According to preliminary data, the consolidated EBITDA adjusted (for the estimated valuation of obligatory liquid and gaseous fuel stocks, justified cost and revenue deferrals and one-time events) amounted to PLN 47 million in this period, and the estimated sales revenues amounted to PLN 3,450 million.
The Group's performance in the same period last year was respectively: PLN 47 million of consolidated adjusted EBITDA and PLN 3,009 million of sales revenues.
The financial results generated in the first quarter prove that we are a complementary, multi-energy group that takes advantage of market opportunities wherever possible. Although the seasonal bitumen segment did not contribute to the result in the quarter, we took advantage, among others, of the situation in the fuel market, which allowed us to achieve a solid performance at the Group level. At the same time, we are constantly working to expand our portfolio of products and services to include low-carbon solutions, in line with our 2024-2028 strategy. Among others, we carried out the first ever in Poland refueling of an airplane with SAF, at the Katowice-Pyrzowice airport, and we received a building permit for an agricultural biogas plant, which will ultimately allow us to take advantage of synergies within the Group and pursue goals related to reducing emissions in the transport fuel sector”, comments Adam Sikorski, CEO of Unimot S.A.
In Q1 2025, Unimot Group's liquid fuels segment generated an adjusted EBITDA of PLN 24 million. Segment's performance was impacted by the persistence of the territorial discount at levels that limited the ability to generate the assumed trade margins and financial results. At the same time, additional positive financial results in the reported period were supported by conditions in the diesel market resulting from the trade tensions caused, among others, by US tariff policies. Unimot Group consistently continues to diversify its product portfolio and focuses on introducing and increasing the share of products that generate higher margins.
The infrastructure and logistics segment generated financial results at a stable level, i.e. PLN 26 million in Q1 2025. Among others, this segment includes fuel storage operations and rail transportation services.
The LPG segment achieved an adjusted EBITDA of PLN 4 million. These results were under pressure from an oversupply of LPG in Poland, related to the accumulation of Russian gas stocks on the market, imported into Poland just before sanctions took effect in December 2024, and significantly increasing supplies of n-butane of Russian origin not covered by sanctions in the first quarter of 2025, which consequently reduced the margin achieved on LPG sales. At the same time, the Unimot Group is incurring the costs of performing the contract for handling and storing LPG in Wilhelmshaven, Germany. The contract was concluded to provide the Unimot Group with greater independence and logistical stability of LPG supplies following the start of the embargo on LPG imports from Russia to the European Union.
The bitumen segment had the negative adjusted EBITDA of PLN (7) million. The results of this segment are subject to seasonality, and it should be assumed in general that the first quarter of the year is a period of slowdown in the road construction industry, due to weather conditions unfavorable to the execution of road works, which negatively affects the financial results of the bitumen segment. However, it should be noted that in Q1 2025, due to this year's exceptionally favorable weather conditions, there was an earlier-than-usual start to the asphalt season, which affected the financial results of that segment.
The natural gas segment generated PLN 2 million in adjusted EBITDA. This segment was positively impacted by a seasonal increase in natural gas sales to end customers, combined with further expansion of the customer portfolio. In turn, the results were under strong pressure from the sale of mandatory natural gas stocks at a price lower than their purchase price.
As for the operating results generated by the Unimot Group in Q1 2025, according to preliminary estimates, Group’s sales volumes of diesel fuel, fuel oil and biofuels were 573,000 cubic meters (up 20 percent year-on-year) and it recorded an 11 percent year-on-year increase in LPG sales to 80,000 tons.
