The Management Board of UNIMOT S.A. (the “Issuer”), with its registered office in Zawadzkie, announces that, having analysed and verified preliminary, estimated selected financial data for Q2 2023 (the “Preliminary Data”), it has decided to publish it as confidential information.
The Consolidated Preliminary Data for Q2 of 2023 is as follows:
Comparable, consolidated figures for Q2 2022 are as follows:
The consolidated Adjusted EBITDA in Q2 2023 was mainly driven by the following factors:
In addition, the Issuer reports that the financial results achieved in Q2 2023 were affected by the one-time, non-cash accounting event described below.
As a result of the acquisition of Lotos Terminale S.A. shares, and in accordance with International Financial Reporting Standards (IFRS 3 “Business Combinations”), the Issuer’s Management Board made a preliminary accounting for the Transaction, which showed a bargain purchase gain on Lotos Terminale S.A. (the “Preliminary estimated bargain purchase gain”).
The Preliminary Estimated Bargain Acquisition Gain was calculated based on book values as of the date of the Transaction and represents the excess of the value of the net assets acquired over the value of the consideration transferred. On the other hand, in accordance with applicable regulations, within 12 months from the date of the Transaction, there will be a final settlement of the Transaction, which will be prepared taking into account the fair value measurement of all identifiable assets acquired and liabilities assumed, and taking into account the estimated purchase price, given the mechanisms adjusting this price (earn-out). As a consequence of the above, the final profit from the bargain acquisition may differ from the preliminary estimated profit reported in this current report.
The Issuer announces that it plans to recognize a preliminary estimated bargain purchase gain of PLN 494 million in its interim condensed consolidated financial statements as of June 30, 2023.
The recognition of a bargain purchase gain in the financial statements is a non-cash and non-recurring accounting event. Accordingly, both Adjusted EBITDA and the basis for calculating dividend values will not include this accounting item.
The Preliminary Data presented herein has been prepared on the basis of preliminary financial data for the second quarter of 2023 available to the Issuer’s Management Board. The estimates have been made to the best knowledge of the Management Board as of the date of preparation, but may differ from the final figures published in the condensed consolidated financial statements prepared as of June 30, 2023, due to, among other things, the fact that, as of the date of publication of this current report, procedures related to the auditor’s review of the Issuer Group’s financial data are in progress, as well as the process of valuation of the acquired net assets and their purchase price is in progress.
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)
Filip Kuropatwa, Vice-President of the Management Board