Unimot (UNT) Q1 2025 earnings summary

Executive summary

• Revenue reached 3,480 million PLN in Q1 2025, with adjusted EBITDA at 47 million PLN and a net loss of 10.1 million PLN, reflecting resilience amid external challenges and a strategic focus on diversification, energy transition, and infrastructure expansion.

• Significant business developments included launching AVIA Solar, entering natural gas extraction, and opening the first AVIA TRUCK station.

• The group delivered Poland's first physical supply of sustainable aviation fuel (SAF) and received a permit for its first biogas plant.

• Early repayment of PLN 221.8 million in loan obligations improved financial efficiency and operational flexibility.

Financial highlights

• Sales revenue: PLN 3,480 million, up 16% year-over-year; adjusted EBITDA: PLN 47.3 million (flat year-over-year); reported EBITDA: PLN 41.8 million (down 43%).

• Net loss amounted to 10.1 million PLN, compared to a net profit of 17.2 million PLN in Q1 2024.

• Gross margin: 5.1% (down from 5.9%); net margin: -0.3%.

• Sales volumes: 576 thousand m³ of liquid fuels, 76 thousand Mg of LPG, 889 GWh of natural gas, and 435 GWh of electricity.

• 141 AVIA stations operated at quarter-end, with 94,208 m³ of fuel sold at stations.

Segment performance

• Liquid fuels: Revenue PLN 2,417 million (+16%), adjusted EBITDA PLN 24.4 million; margins pressured by low land premium.

• LPG: Revenue PLN 206 million (-5%), adjusted EBITDA PLN 3.6 million; oversupply and regulatory changes impacted margins.

• Natural gas: Revenue PLN 301 million (+51%), adjusted EBITDA PLN 2.2 million; growth from expanded customer base.

• Electricity: Revenue PLN 115 million (+42%), adjusted EBITDA PLN 0.6 million; increased RES contracts but lower unit margins.

• Renewables: Revenue PLN 12 million (+99%), adjusted EBITDA PLN -0.4 million; strong contract growth.