Report No.: 5/2026, Publication date: 11.05.2026 18:30
The Management Board of UNIMOT S.A. (the “Issuer”), with its registered office in Zawadzkie, announces that, following an analysis and verification of the preliminary, estimated selected financial data for the first quarter of 2026 (the “Preliminary Data”), it has decided to publish this information as confidential information.
The preliminary consolidated data for the first quarter of 2026 are as follows:
· Revenue from sales: PLN 3.529 billion,
· EBITDA (i.e. earnings before interest, taxes, depreciation and amortisation): PLN 296 million,
· Adjusted EBITDA (i.e. EBITDA adjusted for the estimated valuation of the mandatory stock of liquid and gaseous fuels, justified timing differences in costs and revenues, and one-off situations): PLN 101 million.
The comparable consolidated data for the first quarter of 2025 are as follows:
· Revenue from sales: PLN 3.48 billion,
· EBITDA: PLN 42 million,
· Adjusted EBITDA: PLN 47 million.
The Adjusted Consolidated EBITDA in the first quarter of 2026 was primarily driven by the following factors:
· The liquid fuels segment achieved an adjusted EBITDA of PLN 41 million in the first quarter of 2026. The increase in this segment’s profitability was due to an improvement in the land premium, which stood at approximately PLN 850 per tonne at the end of the period under review, up from approximately PLN 650 for the previous year. In addition, the results were positively impacted by fuel deliveries from German refineries, with which the Issuer’s Group had concluded contracts for 2026. The execution of these contracts increases the Issuer’s Group’s resilience to market fluctuations and shocks resulting from the war in the Middle East and stabilises the regularity of supplies. During the period in question, the results of the liquid fuels segment were also positively influenced by fuel exports to Ukraine. On the other hand, the result was constrained by a strong, previously unrecorded backwardation trend – a situation in which prices for future delivery contracts are lower than current prices – reaching as high as USD 300 (i.e., PLN 1,122.24) per tonne. Pressure on results was also exerted by higher costs of financing mandatory stocks and working capital, resulting from a sharp rise in the prices of petroleum products, as well as higher costs of sea freight premiums,
· The infrastructure and logistics segment delivering stable financial results. In the first quarter of 2026, Adjusted EBITDA stood at PLN 33 million,
· Adjusted EBITDA in the natural gas segment for the first quarter of 2026 amounted to PLN 18 million. The segment’s performance is driven by the effective utilisation of its expanding sales structure and business customer network, as well as the exploitation of trading opportunities.
The high EBITDA result was primarily driven by the valuation of the UNIMOT Group’s petroleum product inventory. These inventories are valued at current market (spot) prices. During the period under review, spot prices rose significantly (at the end of March 2026, diesel prices stood at USD 1,402 (i.e. PLN 5,244.6) per tonne compared to USD 694 (i.e. PLN 2,681.8) / tonne at the end of the first quarter of 2025), which translated into an increase in the value of inventories. At the same time, these inventories are hedged through transactions valued at forward (future) prices. As forward prices rose more slowly than spot prices, the hedging transactions resulted in a loss that partially offset the positive effect of the increase in the value of physical inventories. Consequently, the difference between spot and forward prices widened, indicating an increase in backwardation.
The Preliminary Data presented here has been prepared on the basis of preliminary financial data for the first quarter of 2026 available to the Issuer’s Management Board. The estimates have been prepared to the best of the Management Board’s knowledge as of the date of their preparation, but may differ from the final data to be published in the consolidated quarterly report for the first quarter of 2026.
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 Regulation)
Persons representing the Company:
Filip Kuropatwa, Vice-President of the Management Board