Report nr: 5/2023 Date of publication: 08.02.2023 / 17:20
The Management Board of UNIMOT S.A. (the “Issuer”), having its registered office in Zawadzkie, announces that, having analysed and verified preliminary, estimated selected financial data for Q4 and the whole of 2022 (the “Preliminary Data”), it has decided to publish it as confidential information.
The Consolidated Preliminary Data is as follows::
1. Revenues from external customers:
- Q4 2022: PLN 3 564 million,
- year 2022: PLN 13 264
2. EBITDA (i.e. earnings before interest, taxes, depreciation and amortisation):
- Q4 2022: PLN 236,4 million,
- year 2022: PLN 510,7 million.
3. Adjusted EBITDA (i.e. EBITDA adjusted for the estimated valuation of compulsory reserve of liquid and gaseous fuel, reasonable time-shifts of costs and revenues and one-off events):
- Q4 2022: PLN 222,1 million,
- 2022: PLN 502,3 million.
Comparable, consolidated data for 2021 is as follows:
1. Revenues from external customers :
- Q4 2021: PLN 2 815 million,
- year 2021: PLN 8 175 million.
2. EBITDA:
- Q4 2021: PLN 35,7 million,
- year 2021: PLN 116,4 million.
3. Adjusted EBITDA:
- Q4 2021: PLN 13,1 million,
- year 2021: PLN 70,6 million.
The consolidated adjusted EBITDA in Q4 2022 was primarily driven by the following factors:
- The persistently high margins in the segment of diesel and biofuels and LPG segment were a consequence of high land premiums and logistics capacity shortages. This was related to the ongoing war in Ukraine, high uncertainty in global markets and the effects of the sanctions imposed on Belarus and Russia. In Q4 2022, the Issuer Group’s strong financial performance was achieved due to the actions taken by the Group to increase the logistics capacity available for the Issuer Group’s needs
- Achieving in Q4 2022 a sales volume of 435,000 m3 of diesel, petrol and biofuels (up by 1 per cent year-on-year) and increasing the sales of LPG by 24 per cent year-on-year to 70,000 tonnes as a result of increased demand on the domestic market and meeting the fuel supply needs of the Ukrainian economy and the Ukrainian population
- successful implementation of the trading strategy adopted for Q4 2022 in the scope of electricity trading,
- taking advantage of market volatility in natural gas prices using leased storage capacity,
- the financial results of the last quarter of 2022 were under pressure from logistical challenges that limited the ability to take advantage of market opportunities, the costs associated with the project to acquire the assets of Lotos Terminale S.A. (Current Report No. 2/2022 of 12 January 2022) and higher personnel costs related to the provision for 2022 bonuses.
The presented Preliminary Data has been prepared on the basis of preliminary financial data for Q4 2022 available to the Issuer’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 annual report for 2022.
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:
Adam Sikorski, President of the Management Board
