With reference to Current Report No. 32/2019 of 11 December 2019, the Management Board of UNIMOT S.A. (the “Issuer”), with its registered office in Zawadzkie, announces that it has withdrawn from the publication of the consolidated adjusted EBITDA forecast for 2023, i.e. for the last year of the Issuer’s Group Strategy.
The withdrawal from the publication referred to above is due to external factors beyond the Issuer’s control, including in particular the high volatility and uncertainty of the situation on the fuel market caused by the ongoing armed conflict in Ukraine, the effects of the sanctions imposed on Russia and Belarus. Consequently, there may be changes in the macroeconomic, market and regulatory environment that are difficult to predict, which will determine, inter alia, the level of demand for fuels and the margins obtained by the Issuer.
The Issuer is not in a position to clearly determine the magnitude of the impact on adjusted EBIDTA of the planned acquisition of 100 per cent of shares in Lotos Terminale S.A. due to, inter alia, the impossibility of defining precisely the closing date of this transaction in 2023 and, therefore, the timing of the commencement of consolidation of these assets within the Issuer’s Group. The Issuer and its subsidiary UNIMOT Investments sp. z o.o. are cooperating with the seller in order to implement the transaction related to the acquisition of Lotos Terminale S.A. shares as quickly as possible.
Taking into account the above factors, in the Issuer’s opinion, the publication of financial forecasts would be too risky and could mislead investors.
The above information about the Issuer’s withdrawal from the publication of the 2023 consolidated adjusted EBITDA forecast is provided in connection with the declaration indicated in Current Report No. 32/2019 of 11 December 2019.
Adjusted EBITDA as defined by the Issuer is Earnings Before Interest, Taxes, Depreciation and Amortisation adjusted for the impact of the valuation of inventories of liquid and gaseous fuels and other energy products, time shifts in costs and revenues related to the trading of liquid and gaseous fuels and other energy products, and non-recurring events.
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