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Grupa Kapitałowa Grupa Azoty
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Grupa Azoty S.A. has signed an annex to the agreement dated February 2, 2024, as amended, on behalf of itself and selected companies from the Grupa Azoty Capital Group. This extension, valid until July 30, 2024, allows for continued development of a long-term restructuring plan for Grupa Azoty.
Following successful discussions with banks, Grupa Azoty Polyolefins signed an Amendment to the Stabilization Agreement, originally dated December 15, 2023, on May 29. The parties extended the financing conditions for the Polimery Police project until June 14, 2024. The Amendment involved 15 financial institutions.
In Q1 2024, Grupa Azoty reported consolidated sales revenues of PLN 3,399 million and an EBITDA of minus PLN 50 million, with an EBITDA margin of minus 1.5%. These results align with the estimated financial results published on May 21, 2024.
Grupa Azoty Koltar has expanded its fleet with the addition of a zero-emission Dragon 2 electric locomotive, manufactured by Newag S.A. Designed for heavy freight trains, the locomotive meets the highest environmental standards and will help Grupa Azoty reduce CO2 emissions by 580 tons per year.
Grupa Azoty Compounding, in collaboration with Forum by Nowy Styl, has successfully completed a project that outfitted the Eintracht Frankfurt stadium with 40,000 eco-friendly chairs. This initiative required Grupa Azoty Compounding to develop a specialized granulate, composed of over 80% recycled materials. This project allowed the Grupa Azoty Capital Group to enhance its portfolio with high-quality, eco-friendly recycled materials. The new chairs will be used by fans during the upcoming European Championships which kick off in Germany in June.
In Q1 2024, Grupa Azoty achieved consolidated sales revenues of PLN 3,399 million and an EBITDA result of minus PLN 50 million, with an EBITDA margin of minus 1.5%. The first quarter of 2024 was marked by continued unfavorable global macroeconomic conditions. Demand for products offered by Grupa Azoty remained too low to restore the Group's operational profitability, especially given the ongoing decline in their prices. Additionally, in the first half of the quarter – similar to previous periods – there was a lack of effective adjustment actions by the Company to market conditions.