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Estimated selected consolidated financial results of Grupa Azoty Group for the fourth quarter of 2020 and for 2020See more

The Management Board of Grupa Azoty S.A. (the “Company”) published the estimated selected consolidated financial data of the Grupa Azoty Group for Q4 2020:

Revenue: 2,735.9m
EBITDA: 318.6m
Net profit: 92.3m

and the estimated selected consolidated financial data of the Grupa Azoty Group for 2020:

Revenue: 10,524.5m
EBITDA: 1,321.5m
Net profit: 355.4m

The Company’s Management Board considered the information on the consolidated results to be material in light of the recorded improvement in financial performance in the fourth quarter of 2020 relative to the corresponding periods of the three prior years. Furthermore, the results for the fourth quarter of 2020 differ from market expectations.

The Company's Management Board also reported that these results included compensation payable to eligible companies of the Grupa Azoty Group for 2019 and 2020 under the Act on the Compensation Scheme for Energy-Intensive Sectors and Subsectors, estimated at some PLN 218.8m as well as funding received under the Act on Special Arrangements to Prevent, Counteract and Combat COVID-19, Other Infectious Diseases and Crisis Situations Caused by Them of March 2nd 2020, version 4.0. The amount of the funding granted to Grupa Azoty Group companies was PLN 64.9m

Estimated selected consolidated financial results of Grupa Azoty Group for Q2 2020See more

The Management Board of the Company decided to publish estimated selected consolidated financial results of the Azoty Group for the second quarter of 2020 on July 31, 2020.

Estimated selected consolidated financial results of the Grupa Azoty Group for Q2 2020
Revenue: PLN 2,268.9m
EBITDA: PLN 353.4m
Net profit: PLN 105.6m

Estimated selected separate financial results of the Company for Q2 2020
Revenue: PLN 303.8m
EBITDA: PLN 25.1m
Net profit: PLN 160.3m

Estimated selected consolidated financial results of Grupa Azoty Group for Q3 2019See more

The Management Board of the Company decided to publish estimated selected consolidated financial results of the Azoty Group for the third quarter of 2019 on October 29, 2019.

Revenue: PLN 2,563.9m
EBITDA: PLN 316.3m
Net profit: PLN 61.0m

and selected estimated results for the nine months ended September 30th 2019:

Revenue: PLN 8,666.4m
EBITDA: PLN 1,257.3m
Net profit: PLN 455.9m

The published estimates did not differ from the actual consolidated financial results of the Azoty Group for the third quarter of 2019 by more than 10%. The report containing complete consolidated financial data for the third quarter of 2019 was published on November 13, 2019.

Estimated selected consolidated financial results of Grupa Azoty Group for Q1 2019See more

The Management Board of the Company decided to publish estimated selected consolidated financial results of the Azoty Group for the first quarter of 2019 on April 25, 2019.

Revenue: PLN 3,365m
EBITDA: PLN 607m
Net profit/(loss): PLN 323m

The published estimates did not differ from the actual consolidated financial results of the Azoty Group for the first quarter of 2019 by more than 10%. The report containing complete consolidated financial data for the first quarter of 2019 was published on May 23, 2019.

Estimated selected consolidated financial results of Grupa Azoty Group for Q3 2018See more

The Management Board of the Company decided to publish estimated selected consolidated financial results of the Azoty Group for the third quarter of 2018 on October 31, 2018.

Revenue: PLN 2,324.7m
EBITDA: PLN 44.1m
Net profit/(loss): PLN -116.8m

The published estimates did not differ from the actual consolidated financial results of the Azoty Group for the third quarter of 2018 by more than 10%. The report containing complete consolidated financial data for the third quarter of 2018 was published on November 8, 2018.

Estimates for 1H 2018See more

The Company’s Management Board decided to announce, on August 11th 2018, selected key estimates of the Grupa Azoty Group’s consolidated performance figures for the first half year 2018.

Revenue: PLN 4,877.0m
EBITDA: PLN 528.9m
EBITDA net of one-off items: PLN 535.7m
Net profit/(loss): PLN 132.1m
Profit net of one-off items: PLN 175.2m

The announced estimates did not deviate from the Grupa Azoty Group’s actual consolidated performance figures for the first half year 2018 by more than 10%. The report including the complete consolidated financial information for the first half year 2018 was released on 28th of August 2018.

Estimates for 2017See more

The Company’s Management Board decided to announce, on April 4th 2018, selected estimates of the Grupa Azoty Group’s consolidated performance figures for 2017.

Revenue: PLN 9,617m
EBITDA: PLN 1,187m
EBITDA net of one-off items: PLN 1,262m
Net profit/(loss): PLN 489m

The announced estimates did not deviate from the Grupa Azoty Group’s actual consolidated performance figures for 2017 by more than 10%. The annual report including the complete consolidated financial information for 2017 was released on 19th of April 2018.

Estimates for 2016See more

The Company’s Management Board decided to announce, on March 16th 2017, selected estimates of the Grupa Azoty Group’s consolidated performance figures for 2016.

Revenue: 8,955.69m
EBITDA: PLN 1,005.78m
Operating profit: PLN 486.06m
Net profit: PLN 375.15m

Segment results:

Agro Fertilizers:
Revenue: PLN 5,115.65m
EBITDA: PLN 599.81m

Chemicals:
Revenue: PLN 2,295.33m
EBITDA: PLN 270.78m

Plastics:
Revenue: PLN 1,117.84m
EBITDA: PLN -32.53m

Energy:
Revenue: PLN 239.75m
EBITDA: PLN 95.54m

Other:
Revenue: PLN 187.12m
EBITDA: PLN 72.20m

The announced estimates did not deviate from the Grupa Azoty Group’s actual consolidated performance figures for 2016 by more than 10%. The annual report including the complete consolidated financial information for 2016 was released on 28th of April 2017.

Estimates for 2013See more

The Company’s Management Board decided to announce, on February 27th 2014, selected estimates of the Grupa Azoty Group’s consolidated performance figures for 2013, in connection with the release of 2013/1014 half-year consolidated report by Grupa Azoty Zakłady Azotowe Puławy S.A., a subsidiary.

Revenue: PLN 9,821m
Operating profit: PLN 702m
Net profit: PLN 713m

The announced estimates did not deviate from the Grupa Azoty Group’s actual consolidated performance figures for 2013 by more than 10%. The annual report including the complete consolidated financial information for 2013 was released on March 16th 2014.

Estimated selected consolidated financial results of Grupa Azoty Group for Q1 2021See more

Management Board of Grupa Azoty S.A. decided to provide the estimated selected consolidated financial results of Grupa Azoty for the first quarter of 2021:

Revenue: PLN 3,362.0m
EBITDA: PLN 405.1m
Net profit: PLN 85.9m

Results by segment:

Revenue of the Agro Fertilizers segment: PLN 2,018.8m

EBITDA: PLN 261.5m

Revenue of the Chemicals segment: PLN 815.3m

EBITDA: PLN 80.0m

Revenue of the Plastics segment: PLN 386.6m

EBITDA: PLN 7.8m

Revenue of the Energy segment: PLN 84.6m

EBITDA: PLN 27.6m

Revenue of the Other Activities segment: PLN 56.7m

EBITDA: PLN 20.6m

Positive drivers of the Grupa Azoty Group’s EBITDA included mainly the higher prices of products across all key segments (Fertilizers, Plastics and Chemicals). On the other hand, EBITDA was negatively affected mainly by the higher prices of raw materials used in the Group’s production processes, primarily natural gas, as well as an increase in electricity transmission charges (the new “capacity charge” and revised RES charge) and in the prices of CO2 emission allowances.

EBITDA performance of the Agro Fertilizers segment was largely a result of the higher selling prices of nitrogen, compound and speciality fertilizers compared with Q1 2020, driven by strong demand resulting from high grain prices and lower fertilizer imports. The positive effect of the increase in selling prices was offset by an increase in production costs due to the higher prices of raw materials, mainly natural gas.

The development of the Plastics segment’s EBITDA relative to Q1 2020 was largely a combined effect of the higher average product prices and increased demand across virtually all applications. The prices of key raw materials had a varied effect on EBITDA. In the period under review, some of the prices went up (benzene) and some went down (phenol) on a year-on-year basis.

EBITDA of the Chemicals segment was driven by a surge in the prices of OXO alcohols, melamine, technical grade urea and plasticizers. Demand on most segment markets rebounded versus Q1 2020, with the rebound particularly pronounced in the case of OXO alcohols. The increase in product prices more than offset the increases in the prices of most raw materials used in the Chemicals segment’s production processes.

A significant factor behind net profit posted by the Group for Q1 2021 was also the effect of measurement of financial instruments hedging cash flows of the Polimery Police project, entered into in accordance with the requirements of the credit facilities agreement and resulting from the financing raised in USD and payments made in EUR, mainly to the general contractor. The measurement of these financial instruments had the effect of increasing the Group’s finance costs in Q1 2021 by approximately PLN 90.1m.

The Company’s Management Board considers the information on the estimated consolidated results to be material given that the results generated in Q1 2021 differ from market expectations. At the same time, the estimated consolidated financial results generated in Q1 2021 are lower than the average consolidated results reported by the Company in the corresponding periods of the three previous years, i.e. Q1 2018–2020.

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