Preliminary estimated consolidated financial data for Q2 2022

Report: 41/2022
Date of publication:11.08.2022 / 09:13
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The Management Board of UNIMOT S.A. („Company”) with its registered office in Zawadzkie informs having analysed and reviewed the preliminary estimated selected consolidated financial data for Q2 2022 (“Preliminary Data”), it has decided to publish it as confidential information.

The Consolidated Preliminary Data amounts to:

total revenues: PLN 4 086 million,
EBITDA (i.e. earnings before interests, taxes, depreciation and amortisation): PLN 58,7 million,
Adjusted EBITDA (i.e. EBITDA profit adjusted for estimated valuation of compulsory reserves of liquid and gaseous fuels, justified shifts in time of costs and revenues, and non-recurring events): PLN 64.1 million.

Comparable, consolidated data for Q2 2021 amounts to:

total revnues: PLN 1 731 million,
EBITDA: PLN 27 million,
Adjusted EBITDA: PLN 17.2 million.

The following factors had a major impact on consolidated adjusted EBITDA in Q2 2022:

the ongoing war in Ukraine and the consequent high uncertainty in global markets, as well as the effects of the sanctions imposed on Belarus and Russia,
a 39.8 per cent year-on-year increase in sales volumes of diesel and biofuels to 531.2 thousand m3 and of LPG by 16.1 per cent to 64.1 thousand tonnes as a result of increased demand, including from Ukrainian customers,
the sale of a portion of compulsory reserve as a consequence of the organisational changes announced by the Company in current report No. 39/2022 of 1st August 2022,
logistical challenges limiting the ability to take advantage of market opportunities.

At the same time, the Company announces that UNIMOT S.A. will recognise an impairment loss of PLN 8.9 million on the carrying value of shares in Unimot System Sp. z o.o. in its standalone financial statements. This is a consequence of the change in the macroeconomic environment, including above all the significant increase in gas prices resulting from the war in Ukraine. The current price level results in a reduction in natural gas consumption by our existing and potential customers in favour of other fuels. The estimated amount of write-downs will reduce the standalone EBITDA for Q2 2022. It should be noted that this is a non-recurring and non-cash event.

The Preliminary Data presented has been prepared on the basis of preliminary financial data for Q2 2022 available to the Company’s Management Board. The estimates have been made to the best knowledge of the Management Board at the date of preparation and are subject to change. The final figures will be published in the interim report for H1 2022.