Slide 1: Consolidated financial results for 4Q2021 and 2021FY
Consolidated financial results for 4Q2021 and 2021FY 4th April 2022 r.
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
Slide 3: Economic situation in 2021
ECONOMIC SITUATION IN 2021 GDP +5.7% Unemployment rate -0.8 p.p. Inflation consumption in households sector +5.1% gross fixed capital formation GDP Retail sales +5.8% The increase of manufacturers’ prices in 2021 has been the highest since 1997 and that of Industrial production construction & assemb
Slide 4: Market environment – raising prices of products
MARKET ENVIRONMENT – RAISING PRICES OF PRODUCTS Prices of diesel oil and biofuels* [USD/T] 1500 Electricity Forward Contracts (BASE_Y-22)** [PLN/MWh] 1000 810 ICE Gasoil (left axis) 1300 2021 900 2021 710 FAME (right axle) 1100 800 610 900 700 510 700 600 410 500 500 310 300 400 210 100 300 110 -100
Slide 5: Market situation in 2021
MARKET SITUATION IN 2021 Diesel consumption in Poland [in m3] LPG gas consumption in Poland [in m3] +7.0% +2.1% 22,0 20,3 21,0 20,7 5,2 19,8 4,8 4,8 4,7 4,6 5,6 5,3 7,0 5,9 6,5 4,2 4,1 3,9 3,8 4,0 14,5 15,4 15,4 15,0 13,3 0,7 0,9 1,0 0,8 0,7 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 includin
Slide 6: 4Q2021: UNIMOT Group
4Q2021: UNIMOT GROUP Total revenues:: Adjusted EBITDA*: EBITDA: Net profit: PLN 2.8m PLN 13.1m PLN 35.7m PLN 25.1m Positive contribution from diesel oil, biofuels, LPG, AVIA stations, UEiG and UNIMOT System companies. Negative impact on the results: wholesale trade in natural gas and photovoltaics.
Slide 7: Publication of the ESG strategy (March 2022)
PUBLICATION OF THE ESG STRATEGY (MARCH 2022) Unimot Group: Running our business in a socially responsible and sustainable manner I II III IV V Progressive Effective Increasing staff’s Supporting social Group reduction of the management of safety, development and management Group’s impact on the Grou
Slide 8: Agenda
AGENDA 1. Executive summary 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix
Slide 9: Key financial data
KEY FINANCIAL DATA Total revenues [in PLN million] Total revenues [in PLN million Revenues from external entities breakdown +126.6% +72.1% 2 822 7,2% 4,0% 8 207 2 081 8,2% 2020 80,6% Fuels (diesel, BIO, others) 1 731 1 572 LPG gas 1 338 1 245 4 460 4 770 7,9% 9,5% 986 3 371 Natural gas and electrici
Slide 10: Income statement and margins
INCOME STATEMENT AND MARGINS [in PLN million] 4Q20 4Q21 4Q21/4Q20 20FY 21FY 21FY/20FY Net revenues 1 245 387 2 822 475 +126.6% 4 769 994 8 207 216 +72.1% Gross profit on sales* 94 808 123 602 +30.4% 249 521 366 239 +46.8% Gross profit on sales margin* 7.6% 4.4% -3.2 p.p 5.2% 4.5% -0.8 p.p. Operating
Slide 11: EBITDA vs. adjusted EBITDA
EBITDA VS. ADJUSTED EBITDA Adj. EBITDA ADJUSTMENTS TO EBITDA POSTED IN Q4 2021: 42,6 EBITDA* 37,6 35,7 ▪ impact of liquid fuels reserves valuation: -9 310 thousand PLN 34,4 in PLN million 32,9 ▪ impact of moving costs over time driven by NIT and NRT fulfilment and 26,2 27,0 maintaining compulsory re
Slide 12: EBITDA vs. adjusted EBITDA
EBITDA VS. ADJUSTED EBITDA Adjustements [in MM PLN] 2021 Impact of liquid fuel reserves valuation -22,8 impact of moving costs over time driven by NIT and NRT fulfilment and maintaining 116,4 -6,7 compulsory reserves: 89,9 EBITDA Impact of moving costs over time in LPG business -0,04 89,9 Impact of
Slide 13: Businesses contribution to adj. EBITDA 4Q21
BUSINESSES CONTRIBUTION TO ADJ. EBITDA 4Q21 [in PLN million] 22,6 35,7 5,0 1,0 0,1 5,8 22,8 0,4 3,2 0,3 0,1 2,0 2,7 13,1 ON + BIO LPG Stacje AVIA Gaz UEiG Tradea Spółki Produkty Foto- Centrum Korekty EBITDA Diesel+ LPG Fuel Paliw AVIA Ukraina Natural Ziemny UEiG Tradea Natural Gazowe Other Photovolt
Slide 14: Main reasons for lower consolidated results YoY 4Q21
MAIN REASONS FOR LOWER CONSOLIDATED RESULTS YOY 4Q21 [in PLN million] 22,6 35,7 4,0 0,3 0,2 13,1 28,0 1,2 1,2 5,6 1,3 13,1 1,4 0,6 0,4 EBITDA ON+BIO Gaz LPG Stacje AVIA Gaz UEiG Tradea Spółki Produkty Foto- Centrum EBITDA Korekty EBITDA Adj. Diesel+BIO LPG Skorygowana Fuel Paliw AVIA Ukraina Natural
Slide 15: Businesses contribution to adj. EBITDA 2021FY
BUSINESSES CONTRIBUTION TO ADJ. EBITDA 2021FY [in PLN million] 45,8 116,4 1,5 0,1 2,0 4,2 8,0 16,9 0,6 1,2 8,7 15,7 83,2 70,6 ON + BIO LPG Stacje AVIA Gaz UEiG Tradea Spółki Produkty Foto- Centrum Korekty Diesel+ LPG Fuel Paliw AVIA Ukraina Natural Ziemny UEiG Tradea Natural Gazowe Other Photovoltai
Slide 16: Main reasons for lower consolidated results YoY 2021FY
MAIN REASONS FOR LOWER CONSOLIDATED RESULTS YOY 2021FY [in PLN million] 45,8 116,4 3,8 0,6 10,7 9,6 2,5 12,4 87,2 1,4 1,9 0,5 6,8 0,7 70,6 EBITDA ON+BIO Gaz LPG Stacje AVIA Gaz UEiG Tradea Spółki Produkty Foto- Centrum EBITDA Korekty EBITDA Skorygowana Adj. Diesel+BIO LPG Paliw Fuel Ukraina AVIA Zie
Slide 17: Very good main financial ratios
VERY GOOD MAIN FINANCIAL RATIOS GOAL ▪ The current liquidity ratio is at the level of 2018 2019 2020 2021 2023 1.28, that is higher than the level assumed in the strategy Financial liquidity ratio ▪ The interest coverage ratio is at a very 1,33 1,45 1,36 1,28 min 1,2 (current assets / short-term lia
Slide 18: Debt and funding
DEBT AND FUNDING Linie kredytowe na 30.09.2021 Main banks Total limit* Covenants (depending on the bank) Renewal mBank, ING Bank Śląski, PLN 258,5m** Main credit facilities are renewed every Bank Millennium, PKO BP Current liquidity ratio, net profit ratio, profit on sales ratio, EBITDA/interests, y
Slide 19: Agenda
AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix
Slide 20: Market environment of diesel oil
MARKET ENVIRONMENT OF DIESEL OIL Estimated land premium of biggest Polish diesel oil producers* [PLN/m3] Drop off diesel consumption by 7,0% from 20,7 720 mln m3 in 2020 to 22,0 mln m3 w 2021 670 (source: PKN Orlen) 620 570 520 Land premium needs to be perceived as a 470 trend, not specific values 4
Slide 21: Diesel oil+BIO segment
DIESEL OIL+BIO SEGMENT Sales volumes [thousand m3] Total revenues [PLN million] Adj. EBITDA* [PLN million] Adj. EBITDA* [PLN million] +27.8% +109.8% -5.0% -1.7% 84,6 83,2 407,1 431,8 2 144 24,0 24,5 395,6 380,0 22,1 22,8 63,4 338,0 364,8 1 690 20,2 298,6 1 483 1 275 14,0 13,9 968 1 022 31,9 821 2Q20
Slide 22: Segment LPG
SEGMENT LPG Sales volumes [thousand m3] Total revenues [PLN million] Adj. EBITDA* [PLN million] Adj. EBITDA* [PLN million] +4.6% +100.4% +419.0% +132.1% 57,2 55,2 56,5 54,0 52,6 16,9 43,0 211,4 7,1 39,9 168,4 139,8 5,0 105,5 125,8 3,3 6,7 7,3 7,3 83,8 60,6 2,0 1,7 1,4 1,0 2Q20 3Q20 4Q20 1Q21 2Q21 3Q
Slide 23: Natural gas segment
NATURAL GAS SEGMENT Sales volumes [thousand m3] Total revenues [PLN million] EBITDA S** [w mln zł] Adj. EBITDA* [PLN million] +232.3% +987.9% -81,0% 1 035,1 987,9 350,6 8,0 12,0 92,4 90,5 5,4 2,3 339,6 297,3 34,7 0,1 0,7 168,3 144,2 - 0,1 - 0,3 - 2,7 67,9 19,2 -0,8 8,4 6,6 -3,1 2Q20 3Q20 4Q20 1Q21 2
Slide 24: Electricity segment
ELECTRICITY SEGMENT Sales volumes [GWh] Total revenues* [PLN million] Adj. EBITDA** [PLN million] Adj. EBITDA** [PLN million] +19.5% +163.9% 911,5 97,5 836,4 7,7 712,8 717,7 729,1 5,4 668,2 66,1 5,2 559,1 64,2 2,9 1,0 1,4 38,9 43,0 39,9 0,3 36,9 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 18FY 19FY 20FY 21FY
Slide 25: Photovoltaics segment
PHOTOVOLTAICS SEGMENT Sales volumes [KWp] Total revenues* [PLN million] EBITDA [PLN million] EBITDA [PLN million] -31,6% -27,3% 20FY 21FY 1 352 1 229 4,7 1 047 4,1 -0,6 937 3,8 -0,8 -1,4 -2,0 716 3,2 -1,8 2,8 -2,0 308 1,2 -4,2 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 3Q20 4Q20 1Q2
Slide 26: Fuel stations segment
FUEL STATIONS SEGMENT Sales volumes generated by all AVIA fuel Total revenues* [PLN million] EBITDA [PLN million] EBITDA [PLN million] stations [in million liters] +76,6% +91,7% 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 18FY 19FY 20FY 21FY 1,4 1,4 1,2 56,7 68,8 49,9 57,8 41,5 53,2 30,5 32,1 31,7 34,6 -1,7
Slide 27: Fuel stations segment – additional information
FUEL STATIONS SEGMENT– ADDITIONAL INFORMATION Revenues - own stations * Revenues - franchise ** Number of stations in AVIA chain in Poland Number of stations as of [in PLN million] [in PLN million] 200 December 31, 2021: Goal Stations 22 – own stations 85 4Q21 56,6 4Q21 2,2 50 60 (CODO) 15 42 -21.4%
Slide 28: Other petroleum products segment
OTHER PETROLEUM PRODUCTS SEGMENT Volumes [in thousand tonnes] Revenues [in PLN million] Adj. EBITDA [in PLN million] EBITDA [in PLN million] +9,4% +73,7% 311,2 19FY 20FY 21FY 1,10 19,6 19,7 15,1 18,0 0,14 -0,4 12,7 10,0 4,7 -0,10 -0,22 -0,28 -0,7 55,5 39,9 23,0 9,7 26,5 33,2 -0,86 -1,21 2Q20 3Q20 4Q
Slide 29: Agenda
AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix
Slide 30: War in Ukraine - current and potential impact on the Group
WAR IN UKRAINE - CURRENT AND POTENTIAL IMPACT ON THE GROUP On February 24th, 2022, the armed aggression of the Russian Federation in the territory of independent Ukraine began. Unimot Group is closely monitoring the political and economic steps taken by the government administration and the internat
Slide 31: Prospects for the next quarters
PROSPECTS FOR THE NEXT QUARTERS GAZ LIQUID FUELS & BIOFUELS LPG GAS AVIA STATIONS Changes in the structure of fuel supplies as a result of Continuation of proactive searching More fuel stations joining AVIA network war in Ukraine (currently the Group is taking for alternative sources of supplies in
Slide 32: Potential for further value growth
POTENTIAL FOR FURTHER VALUE GROWTH December 2019: entering sWIG80 Consolidated forecast of adjusted EBITDA 100 Volume (right axis; units) 120 000 [PLN million] 90 Price (left axis; PLN) 100 000 80 86,5 70 75,3 80 000 70,6 63,7 60 50 60 000 31,5 40 24,7 40 000 30 20 20 000 2017 2018 2019 2020 2021 20
Slide 33: Agenda
AGENDA 1. Most important events 2. UNIMOT Group financial results 3. Financial results divided by segments 4. Outlook for future quarters 5. Appendix
Slide 34: Balance sheet
BALANCE SHEET [PLN thousand] 12.31.2021 12.31.2020 [PLN thousand] 31.12.2021 31.12.2020 ▪ Higher property, plant and equipment results mainly from adaptation of leased stations to AVIA’s standards Fixed assets, including: Equity, including: ▪ Increase in stocks results from the higher valuation of t
Slide 35: Cash flow
CASH FLOW [PLN thousand] 2021 2020 ▪ Negative operating cash flows result first and foremost from increase in the prices of all Operating activity cash flows petroleum products, natural gas and electricity. ▪ High depreciation increase results from dynamic Profit before taxation 96 353 43 732 expans
Slide 36: 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 Assumption from strategy:
Slide 37: Business profile
BUSINESS PROFILE LIQUID PETROL GAS FUELS STATIONS FUELS ELECTRICITY PHOTOVOLTAICS OTHER REFINED PRODUCTS DIESEL OIL BIO-FUELS LPG GAS FUEL STATIONS NATURAL GAS ELECTRICITY PHOTOVOLTAICS BITUMENS CRUDE OIL from 06.2020 from 09.2019 from 05.2020 LUBRICANTS from 09.2019 37
Slide 38: Structure of the capital group
STRUCTURE OF THE CAPITAL GROUP 100% 100% 100% 100% 100% 100% 75% 80% UNIMOT System Tradea UNIMOT Paliwa UNIMOT Energia UNIMOT UNIMOT 3 Seas Energy Operator Klastra Sp. z o.o. Sp. z o.o. Sp. z o.o. i Gaz Sp. z o.o. Ukraine LLC Asia LLC LLC Energii Sp. z o.o. development of AVIA crude oil trading Żywi
Slide 39: Selected operational and financial data for 4Q2021 – main subsidiaries
SELECTED OPERATIONAL AND FINANCIAL DATA FOR 4Q2021 – MAIN SUBSIDIARIES [PLN thousand] Tradea UEiG UNIMOT System 24 015 gas Volumes [MWh] 641 606 9 856 28 491 Electricity Revenues 276 850 29 464 3 669 EBITDA 17 482 -603 362 Operational profit 17 457 -189 437 101 Net profit 15 503 -810 135 Current ass
Slide 40: Selected operational and financial data for 2021FY – main subsidiaries
SELECTED OPERATIONAL AND FINANCIAL DATA FOR 2021FY – MAIN SUBSIDIARIES [PLN thousand] Tradea UEiG UNIMOT System 93 508 gas Volumes [MWh] 3 150 488 28 166 124 414 Electricity Revenues 972 426 92 688 7 147 EBITDA 12 703 -1 226 582 Operational profit 12 568 -190 585 -443 Net profit 10 169 -1 782 -532 C
Slide 41: Awareness of global changes – building business cluster
AWARNESS OF GLOBAL CHANGES – BUILDING BUSINESS CLUSTER We develop our businesses being aware of global trends and market transormation – structure of the Group is well-conceived and businesses are additionally enchanced by multi-dimentional synergies. NOW FUTURE Core business Support for core busine
Slide 42: NIT and NRT - current regulations
NIT and NRT - CURRENT REGULATIONS The performance obligation for NIT in 2020 The performance obligation for NRT in 2021 (share of biofuels): 8,8%* (average carbon footprint): 6,0% Istnieje możliwość obniżenia do poziomu 7,22% (rozliczenie roczne) przy zastosowaniu współczynnika redukcyjnego (0,82) N
Slide 43: 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. 3 593 625 43,84% 3 593 625 42,04% Zemadon Limited 1 616 661 19,72% 1 966 661 23,01% Robert Brzozowski – Vice President of the Management Board 72 860 0,89% 72 860 0,85% Filip
Slide 44: 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. EBITDA – Earnings Before Interest, Taxes, Depreciation and Amortization.
Slide 45: Investor Relations UNIMOT S.A.
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 and is not an offer to buy or sell or a solicitation of an offer to buy or sell any securities or instruments. This present