Significant impact of the valuation of electricity trading transactions concluded by a subsidiary on the Issuer’s consolidated result

  • Report: 5/2022
  • Date of publication:26.01.2022 / 19:03
  • Pdf report

The Management Board of UNIMOT S.A. (the “Company”, the “Issuer”), with its registered office in Zawadzkie, announces that, having analysed and verified the preliminary estimated financial data of its subsidiaries for Q4 2021 and having talked to an auditor, it has become aware of the significant impact of a number of trading transactions concluded by Tradea sp. z o.o. during a few weeks of Q4 2021, whose settlement date falls in the future, on the consolidated financial result of the Issuer. To the best of the Issuer’s knowledge at this time, the impact of the above event on the Issuer’s consolidated financial result will be as follows:

  1. impact on consolidated adjusted EBITDA: c. +PLN 21 million in Q1 2022.
  2. impact on consolidated book EBITDA: c. +PLN 21 million in Q4 2021.

The above timing discrepancy is due to the change in the timing of the recognition of gains on the valuation of financial instruments of Tradea sp.z.o.o., agreed with the auditor today, consisting of the application of IFRS 9.

The result referred to above is the outcome of taking advantage of the favourable external environment of Tradea sp. z o.o. (e.g. dynamic futures price movements in Q4 2021) in the trading activities of this company.

The Company’s Management Board emphasises that the final level of Tradea sp.z.o.o.’s adjusted EBITDA in Q1 2022 will also depend on the further activity conducted by this company in the current year, i.e. the conclusion of further transactions settled in the current year.

The Issuer’s Management Board considered the above information as confidential due to its significant impact on the financial results of the Issuer’s capital group.

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