Despite temporary production cuts at three of the Grupa Azoty Group’s companies, the Group continues to provide supplies of CO2 to its existing customers. The reduction in fertilizer production was planned so as to ensure the availability of sensitive products, including liquid CO2, dry ice and ammonia water, which is necessary for the operation of the commercial power industry.

Due to record prices for natural gas, the main production feedstock used by Grupa Azoty S.A., on August 22nd 2022 the Company decided that as of August 23rd 2022 it will temporarily shut down its nitrogen fertilizer, caprolactam and polyamide 6 production units. As a consequence of Russia’s aggression against Ukraine, since February 24th 2022 natural gas prices on the European exchanges have been soaring to extraordinary, historically high levels. Over the past six months, gas prices surged from EUR 72/MWh on February 22nd 2022 to EUR 276/MWh on August 22nd 2022.

Due to record prices for gas, the main production feedstock of Grupa Azoty Puławy, the Puławy-based company of the Grupa Azoty Group has decided to temporarily scale down production at further units. As a consequence of Russia’s aggression against Ukraine, since February 24th 2022 natural gas prices on the European exchanges have been soaring to extraordinary, historically high levels. Gas prices over the past six months have nearly quadrupled, having surged from EUR 72/MWh on February 22nd 2022 to EUR 276/MWh on August 22nd 2022.

On 21st July 2022 analysts of TRIGON DM recommended BUY on Grupa Azoty S.A. shares, with the target price set at PLN 47.40

Grupa Azoty S.A. has entered into an agreement to hold negotiations, on an exclusive basis, regarding the potential acquisition of 100% of the share capital of Solarfarm Brzezinka sp. z o.o. Under the agreement, the parties expressed their intent to collaborate on the Brzezinka solar PV project with a capacity of about 270 MWp.

The Annual General Meeting of Grupa Azoty S.A. was held on June 29th 2022.