Grupa Azoty’s financial results for Q3 align with estimates published on October 25. In Q3 2024, the Group reported consolidated sales revenue of PLN 3,085 million and an EBITDA result of minus PLN 120 million, with an EBITDA margin of minus 3.9%, reflecting an improvement of nearly PLN 228 million compared to the same period last year. The net loss for Q3 was reduced year-over-year by PLN 517 million to PLN 226 million, compared to a loss of PLN 743 million in Q3 2023.

Grupa Azoty’s financial results for Q2 and H1 2024 align with the preliminary results published on August 26, 2024. In H1 2024, the Group achieved consolidated sales revenues of PLN 6.743 billion, with an EBITDA of minus PLN 179 million and an EBITDA margin of minus 2.7%, marking an improvement of nearly PLN 830 million compared to the same period in 2023. The net loss for H1 2024, at PLN 748 million, was reduced by more than PLN 300 million compared to the PLN 1.098 billion loss reported in H1 2023.

In the first half of 2024, Grupa Azoty generated consolidated sales revenues of PLN 6,743 million, with an EBITDA result of minus PLN 179 million and an EBITDA margin of minus 2.7%. This represents an improvement of nearly PLN 830 million compared to the same period last year. The net loss for the first half of this year amounted to PLN 748 million, compared to a loss of PLN 1,098 billion in the first half of 2023.

The management boards of Grupa Azoty S.A., Grupa Azoty Police, and Grupa Azoty Kędzierzyn have signed agreements with Trade Union Organizations to suspend selected cost-intensive provisions of their Collective Bargaining Agreements (ZUZP). This marks another step in the cost restructuring process that has been underway since spring this year, in response to the financial difficulties Grupa Azoty has faced since the second half of 2022.

Grupa Azoty Polyolefins S.A. has signed bilateral protocols of Conditional Provisional Acceptance with Hyundai Engineering Co., Ltd., the General Contractor for Polimery Police, for the Polypropylene Installation subproject and the H&ST Transshipment and Storage Terminal subproject. The Conditional Provisional Acceptance procedure has been introduced to expedite the transfer of the Polimery Police project from the General Contractor to commercial operations.

Grupa Azoty S.A. has signed an Amendment to the Agreement dated February 2, 2024, with subsequent modifications, on behalf of itself and selected companies within the Grupa Azoty Capital Group. The duration of the Agreement has been extended to October 11, 2024. Simultaneously, Grupa Azoty is consistently implementing remedial actions such as optimizing sales and production projects, achieving business synergies across the Capital Group, and introducing internal savings. The Management Board is also preparing to make decisions in the coming weeks regarding the divestment of non-essential assets and the closure of long-term unprofitable installations. Additionally, intensive discussions are ongoing with Trade Unions to agree on suspending the most costly elements of the Collective Labor Agreement (ZUZP).