The Management Board of Grupa Azoty S.A. announced that on June 27, the Ordinary General Meeting appointed the following individuals to the Supervisory Board for the twelfth joint term:
In alignment with the agreement with financing parties noted in Current Report No. 10/2024, the Management Board of Grupa Azoty S.A. resolved on June 21 to convene an Extraordinary General Meeting. The agenda includes approving the primary scope of the considered securities on Grupa Azoty S.A.'s assets, pending Supervisory Board approval. Similar resolutions were made by the Management Boards of Grupa Azoty Puławy, Grupa Azoty Police, and Grupa Azoty Zakłady Azotowe Kędzierzyn S.A. This marks another step in executing the action plan agreed with financial institutions while negotiating a long-term agreement.
On June 14, Grupa Azoty Polyolefins finalized an Amendment to the Stabilization Agreement initially signed on December 15, 2023, ensuring continued financing for the Polimery Police project. This agreement with 15 financial institutions extends the financing terms until July 31, 2024.
Grupa Azoty S.A. has signed an annex to the agreement dated February 2, 2024, as amended, on behalf of itself and selected companies from the Grupa Azoty Capital Group. This extension, valid until July 30, 2024, allows for continued development of a long-term restructuring plan for Grupa Azoty.
Following successful discussions with banks, Grupa Azoty Polyolefins signed an Amendment to the Stabilization Agreement, originally dated December 15, 2023, on May 29. The parties extended the financing conditions for the Polimery Police project until June 14, 2024. The Amendment involved 15 financial institutions.
In Q1 2024, Grupa Azoty reported consolidated sales revenues of PLN 3,399 million and an EBITDA of minus PLN 50 million, with an EBITDA margin of minus 1.5%. These results align with the estimated financial results published on May 21, 2024.