On November 24th 2023 , Andrzej Niewiński resigned from his role as a member and President of the Management Board of Grupa Azoty Polyolefins S.A.Mr Niewiński has been involved with the Company since 2016, holding the position of President of its Management Board. Personal reasons were cited as the reason for the resignation.

The resolution to initiate discussions with Orlen S.A. to cease actions related to the potential acquisition of Grupa Azoty Zakłady Azotowe Puławy S.A. was passed today and came into force upon adoption. The resolution followed a comprehensive analysis conducted by a reputable consultancy, which formed the basis for the Management Board of Grupa Azoty S.A. to deem the potential sale of Grupa Azoty Zakłady Azotowe Puławy S.A. as unjustified.

The Grupa Azoty Group has released estimates of its production volumes for October 2023, showing a steady increase in product output for another consecutive month. According to the released estimates, in October companies of the Grupa Azoty Group produced 245,000 tonnes of nitrogen fertilizers (up from 227,000 tonnes in September), 71,000 tonnes of compound fertilizers (compared with 64,000 tonnes in September) and 26,000 tonnes of speciality fertilizers (an increase relative to 15,000 tonnes in September).

The third-quarter financial results of the Grupa Azoty Group are in line with estimates presented on October 26th. The Group generated consolidated revenue of PLN 3,075 million, EBITDA of PLN -348 million, and EBITDA margin of -11.3%.

The three months ended September 30th 2023 saw improved demand, notably in the Agro Segment and, to a degree, in the Chemicals Segment, especially relative to the prior quarter. This led to an increase in production volumes and a decrease in fertilizer inventories. However, most Grupa Azoty products were offered at prices that were lower than those from the previous year by an average of 52%. The Group estimates to have generated consolidated revenue of PLN 3,075m, EBITDA of PLN -348m, and an EBITDA margin of -11.3%.

The Grupa Azoty Group has released estimates of production volumes for September 2023, showing that production at the Grupa Azoty Group companies is steadily growing in line with rising demand for fertilizers. According to estimates, in September the Group companies produced 64,000 tonnes of compound fertilizers, compared to 54,000 tonnes in August. In the case of specialty fertilizers, the output for September is estimated at 15,000 tonnes, compared with 9,000 tonnes in August. The drop in estimated production of nitrogen fertilizers, from 251,000 tonnes in August to 227,000 tonnes in September, was mainly a consequence of an emergency shutdown at Grupa Azoty ZAK, which the company announced on September 5th.