The Agro Segment achieved positive EBITDA in both the second quarter and the first half of 2025, amounting to PLN 26 million (compared with minus PLN 102 million in the first half of 2024) and PLN 119 million (compared with minus PLN 74 million in the corresponding period of the previous year), respectively. The introduction of higher tariffs on fertilizers from Russia and Belarus on July 1 is expected to lead to a gradual improvement in competitive conditions in this segment over the longer term.

‘As in the first quarter, we achieved positive EBITDA in the Agro Segment, and we expect that the increased tariffs on fertilizers will, over time, contribute to a more favorable competitive landscape. Importantly, after excluding the impact of Polyolefins, EBITDA for both the second quarter and the entire first half was clearly positive. The company successfully enforced the payment of EUR 107.5 million from the General Contractor under performance guarantees related to deficiencies in the execution of the Polimery Police Project. The funds, which under the contract are allocated for project completion, are held in the company’s account. However, access to these funds depends on the consent of the financing institutions. We remain in ongoing dialogue with all institutions financing both Grupa Azoty and the Project, seeking to reach a long-term agreement. We continue to implement the AZOTY BUSINESS transformation program, which is already delivering positive results in the form of positive EBITDA in our core business,’ said Andrzej Skolmowski, President of the Management Board.

In the second quarter of 2025, Grupa Azoty recorded consolidated sales revenue of PLN 3,319 million. EBITDA was minus PLN 71 million, corresponding to a margin of minus 2.1%. Year on year, EBITDA improved by PLN 57 million, and the margin rose by 1.7 percentage points. The net loss for the first half of 2025 was PLN 878 million, an increase of PLN 130 million compared with the loss reported in the first half of 2024 (PLN 748 million). EBIT and EBITDA improved in all segments except Plastics, which was significantly affected by the performance of Grupa Azoty Polyolefins.

Since April, Grupa Azoty has been implementing its flagship AZOTY BUSINESS transformation program, which remains the Group’s top strategic priority. More than 50 initiatives have entered the implementation phase, seven of which have already been completed. These include cost optimization, a new model for laboratory services, centralization of administrative and logistics processes, and initiatives in procurement and energy. The program comprises approximately 380 initiatives and over 2,000 individual tasks involving more than 1,000 employees. It covers both cross-segment projects and those dedicated to specific business areas, including logistics, infrastructure, energy, R&D, and organizational development. Some actions will deliver one-off effects, while others will provide recurring, systematic improvements in operational and cost efficiency. The financial benefits are already visible in the results. The goal of AZOTY BUSINESS is to stabilize and rebuild the Group’s market position, deeply transform its management, technology, and efficiency, and optimize operating costs.