Grupa Azoty S.A. has filed a criminal complaint regarding suspected misconduct involving non-compete agreements for key management personnel (directors). The complaint alleges intentional misconduct that posed a direct risk of significant financial loss to the company, amounting to nearly PLN 500,000.

Grupa Azoty S.A., on behalf of itself, Grupa Azoty Puławy, and Grupa Azoty Police, has signed a Letter of Intent with Orlen. This document initiates a strategic analysis of potential transactions in the polymers segment, with a particular focus on Grupa Azoty Polyolefins. The analysis will also cover caprolactam and polyamide 6 production and sales, as well as the seaport in Gdańsk owned by Grupa Azoty Fosfory. This Letter of Intent is part of Grupa Azoty’s ongoing Strategic Business Review project. Importantly, the Letter of Intent does not cover the fertilizer sector, which remains Grupa Azoty's core business.

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.

Grupa Azoty S.A. has submitted a criminal complaint to the prosecutor’s office, alleging misconduct related to sponsorship and advertising agreements. The complaint refers to potential criminal offenses involving abuse of authority and failure to exercise proper oversight. The agreements in question were signed by Grupa Azoty S.A. despite a suspension of non-essential expenditures due to the company’s difficult financial situation, and in violation of internal procedures and legal regulations. These actions resulted in financial losses exceeding PLN 7.5 million in 2023.

Grupa Azoty has expanded its portfolio with a new version of RSM®, a popular urea-ammonium nitrate solution, now enhanced with copper, boron, and molybdenum. Importantly, the light blue color of the new RSM® OPTIMA will help farmers easily identify the product’s country of origin, as Grupa Azoty will be the only producer offering RSM® in this color. This measure addresses the challenge of fertilizer imports, which are often of questionable quality; for example, the practice of diluting fertilizer with water results in products that fail to maintain the specified concentration.

Grupa Azoty has signed agreements with 13 financial institutions, under which the institutions have agreed to waive certain conditions of the financing agreements for Grupa Azoty S.A. and selected other companies within the Grupa Azoty Group. As a result of these agreements, the lenders have granted a waiver on the net debt/EBITDA ratio requirement for the period ending in June 2024. Simultaneously, an extension agreement signed in July 2024 ensures that financing limits remain available through October 11, 2024.