The Grupa Azoty Group has released estimated output figures for August, highlighting the third consecutive month of steady growth in nitrogen fertilizer production. In August, Group companies manufactured an estimated 251,000 tonnes of nitrogen fertilizers, a substantial rise from 140,000 tonnes in May. As regards compound fertilizers, in July the Group reported production of 47,000 tonnes, with estimates for August at 54,000 tonnes. This upward trend has been primarily driven by a marked improvement in demand, especially evident when compared to the demand patterns from the first half of 2023.

Grupa Azoty S.A. has decided to increase its financial commitment to the speedway club from Tarnów. The funds will secure further support for its sports activities. The results achieved in the regular phase earned Grupa Azoty Unia Tarnów promotion to the play-offs. On September 9th, the team will compete against Texom Stal Rzeszów.

On August 31st 2023, Grupa Azoty signed waiver and amendment letters with 13 financing institutions whereby they agreed to waive certain covenants laid down in agreements on the provision of financing to Grupa Azoty and Grupa Azoty Police. The waiver was granted in response to requests submitted by these entities in June 2023. Under the waiver letters, consent was given to waive the net debt/EBITDA covenant as at the end of June 2023. The terms of the waiver letters do not differ from standard terms used in agreements of this type. Grupa Azoty will remain in continued dialogue with the financing institutions.

Azoty Group S.A. has signed a contract with thyssenkrupp Uhde for the preparation of licensing documentation and the supply of all process equipment for a concentrated ammonium nitrate solution plant (referred to as the Neutralisation Plant) planned to be built in Tarnów. The project’s implementation will mark another step towards fulfilling the objectives of the Green Deal. It will enhance production efficiency by substantially decreasing the energy intensity of the fertilizer manufacturing process, and helps to reduce energy consumption in the production process by over 250,000 GJ per year.

Grupa Azoty urgently advises caution regarding fraudulent video ads circulating online. This deceptive online content exploits Grupa Azoty’s name to lure internet users into clicking on links, falsely promising significant monetary rewards. Particularly misleading is the claim: “Poles earn from PLN 16,000 with Grupa Azoty.” These ads also improperly display Grupa Azoty’s logo and feature images of select Company facilities.

On August 17th 2023, Grupa Azoty S.A. entered into a new distribution agreement with COMPO EXPERT GmbH. Under the agreement, the offer of Grupa Azoty fertilizers which will be distributed by COMPO EXPERT on foreign markets will be significantly expanded, and the product portfolio will include all nitrogen and compound fertilizers. The contract is open-ended, with the distribution schedule set from October 1st 2023 to December 31st 2024.