Current Report No. 6/2025
Date: 14.04.2025 18:59
With reference to the Current Report No. 2/2025 of 21 February 2025, the Management Board of UNIMOT S.A. with its registered office in Zawadzkie (the ‘Issuer’), hereby announces that as part of the work on preparing the consolidated financial statements for 2024, it has estimated that the conditional payment for 2024 will amount to PLN 8.5 million (the Current Report No. 2/2025 of 21 February 2025 stated PLN 22.0 million).
The Issuer reminds that the conditional payment referred to above results from the fact that UNIMOT Bitumen Sp. z o.o. fulfilled the conditions specified in the agreement concluded on 7 April 2023, pursuant to which the Issuer's Group acquired 100% of the share capital in Lotos Terminale S.A. from ORLEN S.A. (currently: UNIMOT Terminale Sp. z o.o.) and, at the same time, took control of, among others, Uni-Bitumen Sp. z o.o. (currently: UNIMOT Bitumen Sp. z o.o.). The above contingent payments are conditional upon UNIMOT Bitumen Sp. z o.o. meeting the following two conditions simultaneously in the years 2023-2032: exceeding the reference EBITDA margin and exceeding the reference result set out in the agreement for each year. Conditional payments will be made after the repayment of the loan agreement that finances the acquisition of UNIMOT Terminale Sp. z o.o's assets. The amount of the conditional payment is currently being reviewed by an independent entity and, therefore, its final amount may change.
The Issuer informs that the amount of the contingent payment affects the Adjusted EBITDA of the bitumen segment.
Considering the above and taking into account other circumstances arising during the preparation of the consolidated financial statements for 2024, the revised estimated results for the fourth quarter of 2024, as announced by the Issuer in the Current Report No. 2/2025 of 21 February 2025, are as follows:
· Total revenue: PLN 3.95 billion,
· EBITDA (i.e., earnings before interest, taxes, depreciation, and amortisation): PLN 162 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 situations): PLN 75 million,
· Adjusted EBITDA of the bitumen segment (after taking into account the contingent payment): PLN 11 million,
· Adjsted EITDA of the liquid fuels segment: PLN 32 million,
· Adjusted EBITDA of the infrastructure and logistics segment: PLN 22 million,
· Adjusted EBITDA of the natural gas segment: PLN 21 million,
· Adjusted EBITDA of the LPG segment: - PLN 7 million.
The estmates presented were prepared on the basis of financial data for the fourth quarter of 2024 available to the Issuer's Management Board and to the best knowledge of the Management Board as of the date of their preparation.
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