Warsaw Stock Exchange: Unimot - Preliminary consolidated 1Q23 results revealed

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Event: Preliminary consolidated 1Q23 results revealed.

The Company published its preliminary data regarding 1Q23.

• The Company revealed that its preliminary consolidated adjusted EBITDA for 1Q23 amounted to PLN 104.9 million (vs. PLN 90 million expected by us). The reported consolidated EBITDA amounted to PLN 117 million (vs. PLN 90 million expected by us). The quarterly consolidated sales amounted to PLN 2.989 billion.
• The Company mentioned that the quarterly results had been particularly impacted by very high margins generated on diesel products. The Company observed very high fuel premium margins supported by supply uncertainty related to the introduction of sanctions. Moreover, the Company mentions that it successfully utilised the newly purchased logistic assets. The Company also mentions the successful trade policy in the quarter, including successful electric energy trading.

Unimot; 1Q23 preliminary consolidated results compared to consolidated expectations

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Expected impact: Positive. The results were published after the session and could not have been discounted yet. We will soon update our financial forecasts for the Company.

Analyst

Łukasz Prokopiuk, CFA

GPW’s Analytical Coverage Support Programme 3.0

This report is prepared for the Warsaw Stock Exchange SA within the framework of the Analytical Coverage Support Program 3.0. 281/2023/AR May 10, 2023