Unimot Sa · GPW:UNT

Unimot Sa — Q3 2018 Earnings Presentation

30 slides from Unimot Sa's earnings presentation, Nov 13, 2018

  1. Slide 1: Consolidated financial results for Q3 2018

    Consolidated financial results for Q3 2018 11/13/2018

  2. Slide 2: Agenda

    AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix

  3. Slide 3: Q3 2018 Highlights

    Q3 2018 HIGHLIGHTS Effective implementation Revenues: EBITDA: Adj. EBITDA*: of optimisation plan PLN 843 m PLN 14.5 m PLN 8.2 m Larger demand for fuels driven by peak of the season Dynamic growth in gas prices – by over 20% within Q3 2018 Change in the system of NIT (National Indicative Target) Intr

  4. Slide 4: Adjustments of EBITDA according to the new calculation model

    ADJUSTMENTS OF EBITDA ACCORDING TO THE NEW CALCULATION MODEL Following the intention to present adjusted results that best reflect the Main assumptions: actual business results, the Group has ▪ Book margin has been cleansed from the elements considered in the variable cost model improved the methodo

  5. Slide 5: Restructuring actions – implementation status

    RESTRUCTURING ACTIONS – IMPLEMENTATION STATUS over almost 250 50 PLN 10 million Status directly involved assumed in the Savings Strategy meetings employees (full result in 2019) Current level of restructuring actions implementation = over PLN 10 million (in 2019) including, among others: Employment

  6. Slide 6: Agenda

    AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix

  7. Slide 7: Key financial data

    KEY FINANCIAL DATA Total revenues Total revenues Q3 2017 3% 5% 1% Q3 2018 8% 10% Fuels (diesel, bio-fuels, others) LPG gas Natural gas and electricity Fuel stations 89% 86% Total revenues [PLN million] Adj. EBITDA** [PLN million] Adj. EBITDA margin** [PLN million] +9.5% +62.2% +0.3 p.p. 999 2.1% 799

  8. Slide 8: Income statement and margins

    INCOME STATEMENT AND MARGINS [in PLN million] 1Q18 2Q18 3Q18 3Q17 3Q18/3Q17 1-3Q18 1-3Q17 1-3Q18/1-3Q17 Net revenues 677.4 843.9 842.7 769.7 9.5% 2 364.0 2 199.3 7.0% Gross profit on sales1 20.2 20.7 41.1 44.2 -7.1% 82.0 109.2 -24.9% Gross profit on sales margin1 3.0% 2.5% 4.9% 5.7% -0.8 p.p. 3.5% 5

  9. Slide 9: Financial ratios

    FINANCIAL RATIOS 2017 2Q18 3Q18 ▪ Improved efficiency ratios in Q3 2018 achieved due to a decrease in Financial liquidity ratio 1.40 1.29 1.30 the capital involved in current assets (current assets / short-term liabilities) (inventories, receivables) at a higher quarterly result Interest coverage ra

  10. Slide 10: Particular businesses contribution to consolidated EBITDA

    PARTICULAR BUSINESSES CONTRIBUTION TO CONSOLIDATED EBITDA EBITDA in Q3 2018 [PLN million] Unimot S.A. Subsidiaries +1.5 16.3 +1.3 -1.6 14.5 -0.4 -0.5 -2.0 0 Diesel+ LPG Petrol Natural gas Natural gas Electricity Others Capital Bio-fuels stations Group 10

  11. Slide 11: Main reasons for lower consolidated results yoy

    MAIN REASONS FOR LOWER CONSOLIDATED RESULTS YOY 15.8 6.3 14.5 +7.3 +0.2 8.2 -2.7 -1.5 -0.1 5.0 -10.9 0 EBITDA Valuations, Adj. Liquid BIO LPG Other Koszty Adj. Wyceny, EBITDA 3Q17 reallocations, EBITDA fuels margin margin margins EBITDA przesunięcia, 3Q18 provisions* 3Q17 margin 3Q18 rezerwy* * adju

  12. Slide 12: Agenda

    AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix

  13. Slide 13: Diesel+Bio segment

    DIESEL+BIO SEGMENT Sales volumes Total revenues Adj. EBITDA* [thousand m3] [million PLN] [PLN million] -12.3% +6.7% 16.3 728 3.3 diesel compulsory reserve valuation 231 682 202 4.0 +203% movement of cost over time, mainly NIT 3.0 9.0 Adj. EBITDA 3Q17 3Q18 3Q17 3Q18 3Q17 3Q18 ▪ Higher sales volumes o

  14. Slide 14: LPG segment

    LPG SEGMENT Sales volumes Total revenues EBITDA EBITDA margin [thousand m3] [million PLN] [PLN million] [%] +14.6% +43.7% -56.7% -4.0 p.p. 5.7 60 86 3.4 53 60 1.5 1.7 3Q17 3Q18 3Q17 3Q18 3Q17 3Q18 3Q17 3Q18 ▪ Higher sales volumes driven by further market expansion mainly in the scope of wholesale ▪

  15. Slide 15: Electricity segment

    ELECTRICITY SEGMENT Sales volumes Total revenues EBITDA [thousand m3] [million PLN] [PLN million] [thousand PLN] 1-3Q2018 1-3Q2017 +169.8% +0.5% Revenues 230 Tradea 222,1 45,0 19.0 19.1 UEiG 17,6 16,6 1.3 EBITDA 85 Tradea 5,6 0,6 UEiG -1,4 -1,6 -0.1 Standalone data of subsidiaries 3Q17 3Q18 3Q17 3Q1

  16. Slide 16: Natural gas segment

    NATURAL GAS SEGMENT Sales volumes Total revenues* EBITDA UNIMOT System Group [million PLN] [PLN million] (natural gas companies) [thousand m3] [thousand PLN] 3Q2018 3Q2017 +43.1% +57.7% Revenues 1 543 1 836 68 6.9 EBITDA -90 823 48 3Q17 3Q18 4.3 Volumes 9 GWh 13 GWh -0.05 -0.88 3Q17 3Q18 3Q17 3Q18 ▪

  17. Slide 17: Petrol stations segment

    PETROL STATIONS SEGMENT Revenues EBITDA Number of stations in AVIA [PLN million] [PLN million] chain 3Q17 3Q18 +13.9% 200 4.7 4.1 Goal 100 -1.4 30 48 Existing -1.6 Expenditures on AVIA stations 15 stations (2017-2018): Volume of fuels sold at AVIA stations in Q2 2018: 4.6 mln zł End of 2017 End of 2

  18. Slide 18: Agenda

    AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix

  19. Slide 19: Perspectives for future quarters

    PERSPECTIVES FOR FUTURE QUARTERS Larger concentration on domestic fuels sales Actions aimed at further diversification of purchase sources Further optimisation of logistic costs Development of offer and expansion on tank installations market Preparations for various scenarios following the Stability

  20. Slide 20: Agenda

    AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix

  21. Slide 21: Dictionary

    DICTIONARY Bio-fuels blending – physical blending of fossil fuels with biocomponents that come from processing biomass. Since 2017 bio-blending has been an obligatory element to partially fulfil the National Indicative Target. In 2017 the minimum 50% of the obligation had to be fulfilled by bio-blen

  22. Slide 22: Market environment of diesel – land premium

    MARKET ENVIRONMENT OF DIESEL – LAND PREMIUM Estimated land premium of biggest Polish diesel oil producers* [PLN/m3] Further diesel consumption growth 400 – by 5% yoy in Q3 2018 (source: PKN Orlen) Major factors influencing the level of Unimot’s wholesale 350 margins 300 REVENUE SIDE • Sales volumes

  23. Slide 23: Cash flow statement

    CASH FLOW STATEMENT [PLN thousand] 3Q18 3Q17* Operating activity cash flows Profit before taxation 11 214 13 370 Adjustments by items, in this: Amortisation 1 421 1 256 Net interests, transactional costs (concerning credits and loans) and dividends 1 748 1 209 Receivables change 18 511 53 957 Invent

  24. Slide 24: Balance sheet

    BALANCE SHEET [PLN thousand] 09/30/2018 09/30/2017* [w tys. zł] 09/30/2018 09/30/2017* Fixed assets, including: [PLN thousand] Tangible assets 50 473 50 704 Equity, including: 8 198 8 198 Share capital 174 437 163 112 Intangible assets 19 265 20 255 Other capitals 182 529 201 735 Fixed assets in tot

  25. Slide 25: Strategy for 2018-2023

    STRATEGY FOR 2018-2023 Primary goal: Building the Group’s value for the shareholders through increase of business efficiency and long-term diversification of activity. Financial security of our business activity as one of the most important values. Strategic goals: in 2023 1 EBITDA growth PLN 75 mil

  26. Slide 26: Business profile

    BUSINESS PROFILE LIQUID NATURAL FUELS GAS ELECTRICITY DIESEL OIL BIO-FUELS LPG GAS NATURAL GAS ELECTRICITY AVIA FUEL STATIONS 26

  27. Slide 27: Structure of the capital group

    STRUCTURE OF THE CAPITAL GROUP 58,74% 50,76% 100% 100% 100% 100% 100% UNIMOT System Blue Cold UNIMOT Energia i Gaz Tradea Tankuj24.pl Unimot Unimot Sp. z o.o. Sp. z o.o. Sp. z o.o. Sp. z o.o. Sp. z o.o. Ukraine LLC Asia LLC construction and LNG production based wholesale and retail electricity tradi

  28. Slide 28: National Indicative Target realisation – current low

    NATIONAL INDICATIVE TARGET REALISATION – CURRENT LOW Possible to decrease to the level of 6.45% by applying reduction coefficient Obligation to fulfil NIT in 2018: 7.5% (0.86), applied by UNIMOT NIT FULFILLMENT IN 2018 1. Quarterly obligation and blending settlement* • Q1: min. 50% of obligation ful

  29. Slide 29: Shareholders of Unimot S.A.

    SHAREHOLDERS OF UNIMOT S.A. Shareholder No. of shares Share in capital No. of votes Share in votes Unimot Express Sp. z o.o. 3 585 142 43,73% 3 585 142 41,94% Zemadon Limited 1 602 411 19,55% 1 952 411 22,84% Robert Brzozowski – Vice-President of the Board 25 730 0,31% 25 730 0,30% Others 2 984 535

  30. Slide 30: Investor Relations

    This presentation has been prepared by Unimot S.A. (“Company”) for its shareholders, analysts, and other contractors. This presentation has been prepared solely for information INVESTOR RELATIONS and is not an offer to buy or sell or a solicitation of an offer to buy or sell any securities or UNIMOT

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