The Management Board of UNIMOT S.A. (the “Issuer”), having its registered office in Zawadzkie, announces that, on 1 April 2022, it decided to withdraw from the publication of the consolidated adjusted EBITDA forecast for 2022.
The Issuer’s Management Board made the above decision in view of external market factors beyond the Company’s control, related to high volatility and uncertainty of the situation on the fuel market caused by the ongoing armed conflict in Ukraine and the economic effects of sanctions on Russia and Belarus imposed in connection with this event. In addition, the inability to estimate and publicise the forecast for 2022 is due to the difficult-to-predict impact on the Group’s results this year of the planned acquisition of the Lotos Terminals assets.
Taking into account the above factors, in the opinion of the Issuer’s Management Board, the publication of financial forecasts would carry too much risk and could mislead investors.
At the same time, the Issuer announces that, to the best knowledge of the Management Board at the time of publication of this current report, the consolidated adjusted EBITDA for Q1 2022 will reach at least PLN 80.0 million. Such a high level of consolidated adjusted EBITDA has been primarily driven by a number of trading transactions concluded by Tradea sp. z o.o. during a few weeks of Q4 2021, which are due to be settled in the future and about which the Issuer informed in current report no. 5/2022 (impact: +PLN 21 million), as well as a high level of margins in ON and LPG wholesale and retail sales at petrol stations.
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, timing shifts in costs and revenues related to the trading of liquid and gaseous fuels and other energy products, and one-time events.
The above information about such a significant increase in consolidated adjusted EBITDA in Q1 2022 compared to the corresponding period of the previous year confirms the assessment of the Company’s Management Board regarding the impossibility of forecasting financial results in the current year.
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