On November 13th 2020, the Supervisory Board of Grupa Azoty S.A. resolved to appoint Mr Tomasz Hinc as President of the Grupa Azoty Management Board, with effect from December 1st 2020.
On October 15th, the winners of the 15th edition of the Best Annual Report 2019 awards programme organised by the Institute of Accountancy and Taxes were announced during a gala held in the Trading Room in the building of the Warsaw Stock Exchange, with Grupa Azoty S.A. among the winning companies.
The Grupa Azoty Group booked a second-quarter net profit of PLN 57m, up PLN 22m year on year. Consolidated revenue came in at PLN 2,269m in the second quarter, which is PLN 469m less than in the corresponding period of 2019. EBITDA stood at PLN 315m, with EBITDA margin at 13.9%, a year-on-year increase of PLN 29m and 3.4pp, respectively.
Grupa Azoty S.A., Grupa Azoty ZCh Police, Grupa Azoty Polyolefins, Grupa LOTOS, Hyundai Engineering Co., and Korea Overseas Infrastructure & Urban Development Corporation (KIND) have signed agreements for the financing of the Polimery Police project. Also, Grupa Azoty Polyolefins, the SPV formed to implement the project, which is of key importance to the entire chemical industry, has signed a credit facility agreement with a syndicate of domestic and foreign financial institutions.
In Q1 2020, the Grupa Azoty Group reported consolidated revenue of PLN 3,104m, down 7.8 % on Q1 2019, which was a record-breaking period in the Group’s history. EBITDA and the EBITDA margin were PLN 476m and 15.3% as a result of a drop in average selling prices of products and low prices of gas.
In 2019, the Grupa Azoty Group posted consolidated revenue of PLN 11.3bn (up PLN 1.3bn year on year), EBITDA of PLN 1.4bn, and EBITDA margin of 12.6% (up 4.9pp year on year). It was a record-breaking year for the Group in terms of its top-line performance and ongoing key capex projects.