Current Report No. 11/2025
Date: 15.05.2025 20:50
The Management Board of UNIMOT S.A. (the ‘Issuer’), with its registered office in Zawadzkie, hereby announces that, following the analysis and verification of preliminary, estimated selected financial data for the first quarter of 2025 (the ‘Preliminary Data’), it has decided to publish them as confidential information.
Consolidated Preliminary Data for the first quarter of 2025 are as follows:
· Sales revenue: PLN 3.45 billion,
· EBITDA (i.e., earnings before interest, taxes, depreciation, and amortisation): PLN 40 million,
· Adjusted EBITDA (i.e., EBITDA adjusted for the estimated valuation of compulsory liquid and gaseous fuel reserves, justified shifts in costs and revenues, and non-recurring events): PLN 47 million.
Comparable consolidated data for the first quarter of 2024 are as follows:
· Sales revenue: PLN 3.009 billion,
· EBITDA: PLN 74 million,
· Adjusted EBITDA: PLN 47 million.
Consolidated Adjusted EBITDA in the first quarter of 2025 was mainly driven by the following factors:
· The liquid fuels segment achieved an adjusted EBITDA of PLN 24 million in the first quarter of 2025. The segment's results were impacted by the continued high level of land premium, which limited the ability to generate the expected trade margins and financial results. At the same time, additional positive financial effects in the reporting period were supported by conditions on the diesel oil market, which were a consequence of trade tensions caused by, among other things, the US tariff policy. The Issuer is consistently continuing the process of diversifying its product portfolio and is focusing on introducing and increasing the share of products that enable higher margins to be generated,
· The infrastructure and logistics segment generates stable financial results, which amounted to PLN 26 million in the first quarter of 2025. This segment includes fuel storage, rail transport services, etc.,
· The LPG segment achieved an adjusted EBITDA profit of PLN 4 million. These results were under pressure due to the oversupply of LPG in Poland related to the accumulation of Russian gas stocks imported to Poland just before the sanctions came into force in December 2024 and a significant increase in the first quarter of 2025 in supplies of Russian n-butane not covered by sanctions, which consequently led to a reduction in the margin achieved on LPG sales. Simultaneously, the Issuer's Group incurs costs related to the performance of the agreement for the transhipment and storage of LPG in Wilhelmshaven, Germany. The agreement was concluded in order to ensure greater independence and logistical stability of LPG supplies to the Issuer's Group after the embargo on LPG imports from Russia to the EU came into force,
· The bitumen segment achieved a negative adjusted EBITDA of PLN 7 million. The results of this segment are subject to seasonality, and it should generally be assumed that the first quarter of the year is a period of slowdown in the road construction industry due to unfavourable weather conditions for road works, which has a negative impact on the financial results of the bitumen segment. It should be noted that in Q1 2025, due to exceptionally favourable weather conditions this year, the bitumen season started earlier than usual, which translated into the financial results achieved by the 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, along with further expansion of the customer base. However, the results were under strong pressure from the sale of compulsory natural gas reserves at a price lower than their purchase price,
· Achieving sales volumes of diesel, heating oil, petrol, and biofuels of 573,000 m3 in Q1 2025 (up by 20% y/y) and an 11% y/y increase in LPG sales to 80,000 tonnes.
The Preliminary Data presented have been prepared on the basis of preliminary financial data for the first quarter of 2025 available to the Issuer's Management Board. The estimates have been prepared to the best of the Management Board's knowledge as at the date of their preparation, but may differ from the final data published in the consolidated financial statements for the first quarter of 2025.
Legal basis:
Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR).
Persons representing the Company:
Filip Kuropatwa, Vice-President of the Management Board