Current Report No. 14/2026 17:35
The Management Board of UNIMOT S.A. (the “Issuer”), with its registered office in Zawadzkie, hereby announces that, following an analysis and verification of the preliminary, estimated selected financial data for the second quarter of 2026 (the “Preliminary Data”), it has decided to publish this information as confidential.
The preliminary consolidated data for the second quarter of 2026 are as follows:
· Revenue from sales: PLN 4 360 million,
· EBITDA (i.e. earnings before interest, tax, depreciation and amortisation): PLN -50 million,
· Adjusted EBITDA (i.e. EBITDA adjusted for the estimated valuation of the mandatory stock of liquid and gaseous fuels, justified deferrals of costs and revenues, and one-off events): PLN 140 million. This result does not include the costs of mandatory stocks relating to previous reporting periods, amounting to PLN 35 million (a more detailed description is provided below).
The comparable consolidated data for the second quarter of 2025 are as follows:
· Revenue from sales: PLN 3 718 million,
· EBITDA: PLN 74 million,
· Adjusted EBITDA: PLN 110 million.
The consolidated adjusted EBITDA for the second quarter of 2026 was primarily driven by the following factors:
· The Liquid Fuels segment achieved an Adjusted EBITDA of PLN 37 million in the second quarter of 2026. During the second quarter of 2026, the land premium trended downward, ending the period at PLN 670 per cubic metre. (at the start of the quarter, it stood at PLN 850 per cubic metre). Due to this market situation, imports of diesel by sea were curtailed, as they did not guarantee profitability. Conversely, the results of the Liquid Fuels segment were positively impacted by the trading of fuels sourced from German refineries, with which the Issuer’s Group had concluded contracts for 2026, and by the export of products to Ukraine.
The Issuer draws attention to ongoing cost pressures in the Liquid Fuels segment, which have intensified amid escalating geopolitical tensions in the Strait of Hormuz and backwardation in crude and fuel markets. This trend represents a significant shift in the relationship between forward and spot prices and affects market conditions, including the costs associated with maintaining mandatory fuel stocks. Due to the specific nature of the mechanism for settling the costs of mandatory fuel stocks, the final amount can only be verified once data on the actual costs of maintaining these stocks are available. This data is not available when the obligation to maintain mandatory stocks arises, meaning the amount of the associated costs may be subject to subsequent verification. Following an analysis of the impact of changed market conditions on the results of the Liquid Fuels segment, the Issuer has estimated that, in previous periods, the segment’s EBITDA should have been lower by a total of PLN 35 million. This adjustment reflects an updated assessment of how changing market conditions affect the costs of maintaining mandatory fuel stocks. It is not the result of a change in the methodology used to calculate these costs, nor of a change in the Group’s operating policies.
The financial results of the Liquid Fuels segment in future periods may be affected by the Act on the Tax on Windfall Profits from the Production of Certain Liquid Fuels and Trading Therein, Earned in 2026. The Act was passed by Parliament but, as at the date of publication of this report, had not yet entered into force. On 24 July 2026, the President of the Republic of Poland, Karol Nawrocki, referred the Act to the Constitutional Tribunal for preventive review. In view of the above, the Issuer has assessed the potential impact of the proposed regulations on the financial position of the Issuer’s Group in the first half of 2026. The calculations were prepared to the best of the Issuer’s Management Board’s knowledge, taking into account the legal situation and available information as at the date of publication of this report. Based on the analyses carried out, the Issuer’s Management Board estimates that for the period from 1 March to 30 June 2026, the Issuer’s Group would not be obliged to pay advance tax instalments in respect of the tax arising from the regulations in question. This estimate does not mean that an obligation to pay this tax will not arise in 2026 should the Act come into force. As at the date of publication of this report, however, the Issuer’s Management Board is not in a position to make a reliable and precise estimate of the potential amount of this liability for the whole of 2026. This is due, in particular, to the high volatility of market conditions affecting the profitability of the activities covered by the proposed regulations, as well as to the possibility of an interpretation of specific provisions differing from that currently assumed, the issuance of additional clarifications or positions by the relevant public administration authorities, and the occurrence of other circumstances that may affect the manner in which future regulations are applied.
· The Infrastructure and Logistics segment is generating financial results at a stable level. In the second quarter of 2026, Adjusted EBITDA amounted to PLN 34 million,
· Adjusted EBITDA in the Bitumen segment in the second quarter of 2026 amounted to PLN 67 million. The segment’s performance is influenced by the effective utilisation of trading opportunities.
The Preliminary Data presented here have been prepared on the basis of preliminary financial data for the second quarter of 2026 available to the Issuer’s Management Board. The estimates were prepared to the best of the Management Board’s knowledge as at the date of their preparation, but may differ from the final data to be published in the consolidated half-yearly report for the first half 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 (the MAR Regulation).
Persons representing the Company:
Filip Kuropatwa, Vice-President of the Management Board