Duyuru • May 29
Unimot S.A., Annual General Meeting, Jun 26, 2026 Unimot S.A., Annual General Meeting, Jun 26, 2026, at 12:00 Central European Standard Time. Reported Earnings • May 28
First quarter 2026 earnings released: EPS: zł22.15 (vs zł1.24 loss in 1Q 2025) First quarter 2026 results: EPS: zł22.15 (up from zł1.24 loss in 1Q 2025). Revenue: zł3.39b (down 2.6% from 1Q 2025). Net income: zł181.6m (up zł191.7m from 1Q 2025). Profit margin: 5.4% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 1.4% growth forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. New Risk • May 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 448% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (492% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.07% net profit margin). Reported Earnings • Apr 24
Full year 2025 earnings released: EPS: zł1.22 (vs zł17.06 in FY 2024) Full year 2025 results: EPS: zł1.22 (down from zł17.06 in FY 2024). Revenue: zł14.8b (up 5.1% from FY 2024). Net income: zł10.0m (down 93% from FY 2024). Profit margin: 0.1% (down from 1.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. New Risk • Nov 20
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: zł2.10 (vs zł2.51 loss in 3Q 2024) Third quarter 2025 results: EPS: zł2.10 (up from zł2.51 loss in 3Q 2024). Revenue: zł3.71b (up 1.6% from 3Q 2024). Net income: zł17.2m (up zł37.8m from 3Q 2024). Profit margin: 0.5% (up from net loss in 3Q 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 1.4% growth forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Duyuru • Nov 15
Unimot S.A. to Report Q3, 2025 Results on Nov 18, 2025 Unimot S.A. announced that they will report Q3, 2025 results on Nov 18, 2025 New Risk • Sep 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Sep 12
Second quarter 2025 earnings released: zł2.25 loss per share (vs zł4.70 profit in 2Q 2024) Second quarter 2025 results: zł2.25 loss per share (down from zł4.70 profit in 2Q 2024). Revenue: zł3.72b (up 7.1% from 2Q 2024). Net loss: zł18.5m (down 148% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Duyuru • Aug 21
Unimot S.A. to Report First Half, 2025 Results on Sep 09, 2025 Unimot S.A. announced that they will report first half, 2025 results on Sep 09, 2025 Upcoming Dividend • Jun 06
Upcoming dividend of zł6.00 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (6.7%). Reported Earnings • May 30
First quarter 2025 earnings released: zł1.24 loss per share (vs zł2.10 profit in 1Q 2024) First quarter 2025 results: zł1.24 loss per share (down from zł2.10 profit in 1Q 2024). Revenue: zł3.48b (up 16% from 1Q 2024). Net loss: zł10.1m (down 159% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Declared Dividend • Apr 24
Dividend of zł6.00 announced Shareholders will receive a dividend of zł6.00. Ex-date: 13th June 2025 Payment date: 30th June 2025 Dividend yield will be 3.9%, which is lower than the industry average of 7.0%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 51% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Apr 23
Unimot S.A., Annual General Meeting, Jun 09, 2025 Unimot S.A., Annual General Meeting, Jun 09, 2025. New Risk • Apr 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • Apr 18
Full year 2024 earnings released Full year 2024 results: Revenue: zł14.1b (up 9.2% from FY 2023). Net income: zł139.9m (down 71% from FY 2023). Profit margin: 1.0% (down from 3.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 6.0% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 26
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 192% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 192% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (0.1% net profit margin). Reported Earnings • Nov 17
Third quarter 2024 earnings released: zł2.51 loss per share (vs zł2.71 loss in 3Q 2023) Third quarter 2024 results: zł2.51 loss per share (improved from zł2.71 loss in 3Q 2023). Revenue: zł3.69b (up 8.9% from 3Q 2023). Net loss: zł20.6m (loss narrowed 7.5% from 3Q 2023). Revenue is expected to fall by 3.7% p.a. on average during the next 3 years compared to a 1.1% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 18
Second quarter 2024 earnings released: EPS: zł4.70 (vs zł3.91 in 2Q 2023) Second quarter 2024 results: EPS: zł4.70 (up from zł3.91 in 2Q 2023). Revenue: zł3.48b (up 7.9% from 2Q 2023). Net income: zł38.5m (up 20% from 2Q 2023). Profit margin: 1.1% (up from 1.0% in 2Q 2023). Revenue is expected to fall by 3.5% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 09
Price target increased by 11% to zł185 Up from zł166, the current price target is provided by 1 analyst. New target price is 45% above last closing price of zł127. Stock is up 33% over the past year. The company posted earnings per share of zł59.43 last year. Duyuru • Jun 19
Unimot S.A. Declares Dividend, Payable on July 10, 2024 Unimot S.A. decided to pay PLN 32.8 million (EUR 7.54 million) from its 2023 profit as a dividend, which amounts to PLN 4 (EUR 0.92) per share. The dividend date was set for June 26 and the dividend payment for July 10, 2024. From its 2022 profit, the company allocated PLN 112.2 million (EUR 25.8 million) for dividend payment, which yielded a dividend of PLN 13.69 (EUR 3.15) per share. Upcoming Dividend • Jun 19
Upcoming dividend of zł4.00 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 10 July 2024. Payout ratio is a comfortable 7.8% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Polish dividend payers (7.7%). Lower than average of industry peers (6.4%). Reported Earnings • May 30
First quarter 2024 earnings released: EPS: zł2.10 (vs zł9.98 in 1Q 2023) First quarter 2024 results: EPS: zł2.10 (down from zł9.98 in 1Q 2023). Revenue: zł3.00b (down 8.4% from 1Q 2023). Net income: zł17.2m (down 79% from 1Q 2023). Profit margin: 0.6% (down from 2.5% in 1Q 2023). Revenue is expected to fall by 3.8% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 28
Unimot S.A., Annual General Meeting, Jun 17, 2024 Unimot S.A., Annual General Meeting, Jun 17, 2024. Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: zł59.43 (vs zł45.62 in FY 2022) Full year 2023 results: EPS: zł59.43 (up from zł45.62 in FY 2022). Revenue: zł12.9b (down 3.6% from FY 2022). Net income: zł487.2m (up 30% from FY 2022). Profit margin: 3.8% (up from 2.8% in FY 2022). The increase in margin was driven by lower expenses. Revenue is expected to fall by 3.8% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 26
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł3.31b (down 13% from 3Q 2022). Net loss: zł22.2m (down 154% from profit in 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 16% decline forecast for the Oil and Gas industry in Poland. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. New Risk • Nov 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 20% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 20% per year for the foreseeable future. High level of non-cash earnings (27% accrual ratio). Minor Risk Dividend is not well covered by cash flows (97% cash payout ratio). Duyuru • Sep 26
Unimot Reportedly in Talks to Buy Shell's Stake in German Schwedt Refinery Poland's Unimot S.A. (WSE:UNT) has emerged as one of the possible buyers of a 37.5% stake oil major Shell plc LSE:SHEL) owns in Germany's PCK Raffinerie GmbH, two people familiar with the matter said. The refinery, which is majority-owned by Russia's Rosneft (ROSN.MM), has been a problem for the German government ever since Berlin ended its energy ties with Moscow last year. As a result, Germany put Rosneft's 54.17% stake under trusteeship, essentially giving the government control over the asset while technically leaving ownership in the Russian group's hands. Reported Earnings • Sep 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł3.25b (down 9.4% from 2Q 2022). Net income: zł32.0m (down 29% from 2Q 2022). Profit margin: 1.0% (down from 1.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 23
Unimot S.A. (WSE:UNT) completed the acquisition of 80% stake in P2 Trading Sp. z o.o. Unimot S.A. (WSE:UNT) signed a preliminary conditional agreement to acquire 80% stake in P2 Trading Sp. z o.o. on April 6, 2023. Under the deal, Unimot is obliged to pay the basic price, and additional price under earn-out mechanism by paying a share in the profit generated in years 2023-2024. The conclusion of the deal is subject to the fulfilment of conditions at latest by September 30, 2023. Sadkowski I Wspólnicy Sp.k. acted as legal advisor to Unimot.Unimot S.A. (WSE:UNT) completed the acquisition of 80% stake in P2 Trading Sp. z o.o. on July 4, 2023. Buying Opportunity • Jul 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be zł128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 82%. Buying Opportunity • Jul 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.3%. The fair value is estimated to be zł129, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 82%. Upcoming Dividend • Jun 02
Upcoming dividend of zł13.69 per share at 12% yield Eligible shareholders must have bought the stock before 09 June 2023. Payment date: 16 June 2023. Trailing yield: 12%. Within top quartile of Polish dividend payers (7.6%). Higher than average of industry peers (7.2%). Duyuru • May 11
Unimot S.A., Annual General Meeting, Jun 05, 2023 Unimot S.A., Annual General Meeting, Jun 05, 2023, at 13:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł121, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 4x in the Oil and Gas industry in Poland. Total returns to shareholders of 467% over the past three years. Reported Earnings • Nov 19
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł3.81b (up 83% from 3Q 2021). Net income: zł41.1m (up zł37.1m from 3Q 2021). Profit margin: 1.1% (up from 0.2% in 3Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 17% share price gain to zł65.70, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 3x in the Oil and Gas industry in Poland. Total returns to shareholders of 132% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 20% share price decline to zł54.60, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 3x in the Oil and Gas industry in Poland. Total returns to shareholders of 145% over the past three years. Reported Earnings • Sep 03
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł3.52b (up 109% from 2Q 2021). Net income: zł45.0m (up 167% from 2Q 2021). Profit margin: 1.3% (up from 1.0% in 2Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 17% share price gain to zł75.30, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 4x in the Oil and Gas industry in Poland. Total returns to shareholders of 293% over the past three years. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 17% share price gain to zł57.90, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 3x in the Oil and Gas industry in Poland. Total returns to shareholders of 243% over the past three years. Duyuru • Jun 07
Unimot S.A., Annual General Meeting, Jun 29, 2022 Unimot S.A., Annual General Meeting, Jun 29, 2022, at 12:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to zł35.45, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 4x in the Oil and Gas industry in Poland. Total returns to shareholders of 189% over the past three years. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 18% share price gain to zł49.55, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 5x in the Oil and Gas industry in Poland. Total returns to shareholders of 568% over the past three years. Upcoming Dividend • May 26
Upcoming dividend of zł1.97 per share Eligible shareholders must have bought the stock before 02 June 2021. Payment date: 25 June 2021. Trailing yield: 3.7%. Lower than top quartile of Polish dividend payers (5.7%). In line with average of industry peers (3.9%). Reported Earnings • May 23
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: zł1.57b (up 34% from 1Q 2020). Net income: zł30.1m (up zł40.7m from 1Q 2020). Profit margin: 1.9% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 59% per year whereas the company’s share price has increased by 55% per year. Reported Earnings • Mar 25
Full year 2020 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: zł4.77b (up 7.2% from FY 2019). Net income: zł35.2m (down 42% from FY 2019). Profit margin: 0.7% (down from 1.4% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 08
New 90-day high: zł41.40 The company is up 31% from its price of zł31.50 on 08 December 2020. The Polish market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 12% over the same period. Duyuru • Feb 18
Unimot S.A. (WSE:UNT) acquired 80% stake in Operator Klastra Energii Sp. z o. o. Unimot S.A. (WSE:UNT) acquired 80% stake in Operator Klastra Energii Sp. z o. o. on February 17, 2021.
Unimot S.A. (WSE:UNT) completed the acquisition of 80% stake in Operator Klastra Energii Sp. z o. o. on February 17, 2021. Is New 90 Day High Low • Jan 04
New 90-day high: zł35.50 The company is up 1.0% from its price of zł35.10 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 15% over the same period. Reported Earnings • Nov 19
Third quarter 2020 earnings released: EPS zł0.11 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: zł1.34b (up 6.2% from 3Q 2019). Net income: zł911.0k (down 96% from 3Q 2019). Profit margin: 0.1% (down from 1.9% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 15% share price gain to zł31.05, the stock is trading at a trailing P/E ratio of 5.8x, up from the previous P/E ratio of 5x. This compares to an average P/E of 11x in the Oil and Gas industry in Europe. Total returns to shareholders over the past three years are 32%. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 17% share price gain to zł29.10, the stock is trading at a trailing P/E ratio of 5.4x, up from the previous P/E ratio of 4.7x. This compares to an average P/E of 10x in the Oil and Gas industry in Europe. Total returns to shareholders over the past three years are 36%. Valuation Update With 7 Day Price Move • Oct 30
Market pulls back on stock over the past week After last week's 16% share price decline to zł23.80, the stock is trading at a trailing P/E ratio of 4.5x, down from the previous P/E ratio of 5.3x. This compares to an average P/E of 10x in the Oil and Gas industry in Europe. Total returns to shareholders over the past three years are 4.1%. Is New 90 Day High Low • Oct 26
New 90-day low: zł27.50 The company is down 40% from its price of zł45.80 on 28 July 2020. The Polish market is down 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is down 23% over the same period. Is New 90 Day High Low • Oct 09
New 90-day low: zł32.50 The company is down 29% from its price of zł45.70 on 10 July 2020. The Polish market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is down 13% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: zł35.80 The company is down 14% from its price of zł41.40 on 26 June 2020. The Polish market is down 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Oil and Gas industry, which is down 17% over the same period.