Grupa Azoty’s second-quarter 2022 results were strongly impacted by the turmoil caused by Russia’s invasion of Ukraine, which adversely affected the availability and prices of feedstocks, pushing up prices of final products across all business segments. As a result of lower exports, the volumes of fertilizer supplied by Grupa Azoty to the domestic market were significantly larger compared with the same period last year.

The Contract provides for comprehensive maintenance services for the petrochemical complex being built under the Polimery Police project located in Police, comprising a PDH unit, a PP unit, a handling and storage terminal, auxiliary units, PP logistics infrastructure, and all equipment, infrastructure, site development and other elements necessary for its proper operation.

On September 19th 2022, Grupa Azoty S.A. entered into a framework contract for the purchase of coal with Polska Grupa Importowa Premium that was awarded in a tender procedure. The Contract provides for the sale of imported thermal coal.

On September 16th 2022, representatives of Grupa Azoty met with senior executives of Hyundai Engineering Co., Ltd., the general contractor on the Polimery Police project. During the meeting, participants discussed the progress of construction works at the new complex and gas terminal.

Based on a due diligence and valuation of the business of Zespół Elektrowni Wodnych Niedzica S.A., the Management Board of Grupa Azoty S.A. expressed an interest in acquiring and integrating the company into the Grupa Azoty Group. At the same time, a decision was made to request the Polish State Treasury, as the sole shareholder in ZEW Niedzica, to initiate a process leading to its potential acquisition and merger into the Grupa Azoty Group.

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.