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Grupa Kapitałowa Grupa Azoty
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The management boards of Grupa Azoty S.A., Grupa Azoty Police, and Grupa Azoty Kędzierzyn have signed agreements with Trade Union Organizations to suspend selected cost-intensive provisions of their Collective Bargaining Agreements (ZUZP). This marks another step in the cost restructuring process that has been underway since spring this year, in response to the financial difficulties Grupa Azoty has faced since the second half of 2022.
In the first half of 2024, Grupa Azoty generated consolidated sales revenues of PLN 6,743 million, with an EBITDA result of minus PLN 179 million and an EBITDA margin of minus 2.7%. This represents an improvement of nearly PLN 830 million compared to the same period last year. The net loss for the first half of this year amounted to PLN 748 million, compared to a loss of PLN 1,098 billion in the first half of 2023.
Grupa Azoty Polyolefins S.A. has signed bilateral protocols of Conditional Provisional Acceptance with Hyundai Engineering Co., Ltd., the General Contractor for Polimery Police, for the Polypropylene Installation subproject and the H&ST Transshipment and Storage Terminal subproject. The Conditional Provisional Acceptance procedure has been introduced to expedite the transfer of the Polimery Police project from the General Contractor to commercial operations.
