On June 9th, the Management Board of Grupa Azoty S.A. made a decision regarding planned discontinuation of its POM business. The decision was prompted by the conclusion that the POM business would not be economically viable in the foreseeable future. The planned discontinuation of POM production will reduce the Company’s total CO2 emissions.
May 18th saw the mounting in place of a 96-metre-tall propane-propylene splitter. The operation required the use of one of the world’s largest ring cranes.
After Q1 2021, the Grupa Azoty Group reported consolidated revenue of PLN 3,362m, an increase of PLN 258m relative to the same period of 2020. Despite higher average prices of most raw materials, including natural gas, EBITDA came in at PLN 405m. Net profit for the period amounted to PLN 86m and EBITDA margin was 12.0%.