Unimot (UNT) Q1 2026 earnings summary

Executive summary

• Consolidated sales revenue in Q1 2026 reached PLN 3,529 million, up 1.4% year-over-year, with adjusted EBITDA at PLN 104.9 million and adjusted net profit at PLN 45 million.

• Strong performance in natural gas and infrastructure/logistics segments offset weaker results in LPG and bitumen.

• Operational continuity was maintained through diversified supply sources and robust logistics, including the Geneva trading office and suppliers from the US, Norway, Sweden, and Germany.

• Key strategic moves included acquiring a 60% stake in German rail company RBP, expanding aviation fuel operations to Warsaw Chopin Airport, and executing the first direct isobutane delivery from the US.

• The Management Board recommended a dividend of PLN 6.00 per share, continuing the Group's value creation policy.

Financial highlights

• Adjusted EBITDA rose to PLN 104.9 million, while reported EBITDA was PLN 299 million due to significant one-off adjustments, mainly related to inventory valuation and logistics costs.

• Adjusted net profit for Q1 2026 was PLN 45 million.

• Total assets increased to PLN 4,665 million as of March 31, 2026, compared to PLN 3,382 million a year earlier.

• Cash flow from operating activities was negative at PLN -100.7 million, with net cash at period end at PLN -236.7 million after overdrafts.

• Earnings per share: PLN 22.15; book value per share: PLN 171.41.

Outlook and guidance

• The Group expects continued market volatility due to geopolitical tensions, especially in the Middle East, impacting fuel prices, logistics, and working capital needs.

• Ongoing diversification of supply sources, logistics optimisation, and hedging strategies are key to mitigating risks.

• No financial forecasts published due to high market uncertainty.

• LPG segment anticipates improved margins post-EU embargo on Russian LPG, but faces ongoing logistics and demand challenges.

• Photovoltaics segment targets international expansion and improved margins through scale.