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Grupa Kapitałowa Grupa Azoty
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In the fourth quarter of 2023, Grupa Azoty achieved consolidated sales revenues of PLN 3,083 million and an EBITDA result of minus PLN 10 million, with an EBITDA margin of minus 0.3%. The financial results for Q4 2023 were significantly impacted by substantial impairment write-downs on non-financial fixed assets. The information regarding these write-downs was disclosed in the current report dated April 5, 2024.
The financial situation that the new management board encountered at Grupa Azoty prioritizes ensuring the continuity of operations within the Capital Group companies and developing and implementing a recovery plan. Consequently, Grupa Azoty is making difficult decisions to withdraw from sponsorship activities. It is worth noting that the sponsorship policies adopted by the previous management board do not allow Grupa Azoty companies to engage in such activities in 2024.
During a meeting on April 12, the Supervisory Board of Grupa Azoty Puławy made changes to the company's Management Board. The Supervisory Board adopted resolutions to dismiss the following individuals from the Management Board and their respective functions:
On April 12, the Supervisory Board of Grupa Azoty S.A. adopted a resolution to appoint Hubert Kamola as a Member of the Management Board, effective April 13, and entrusted him with the role of Vice President of the Management Board. On the same day, Hubert Kamola resigned from his position as a Member of the Supervisory Board, effective at the end of April 12.
Grupa Azoty has published estimated production volumes for March 2024. According to the published data, nitrogen fertilizer production in the Capital Group companies increased compared to February, with estimated volumes for March at 292,000 tons compared to 252,000 tons in February. Production levels also increased for specialty fertilizers, with estimated production levels in March at 32,000 tons compared to 26,000 tons in February. However, for multi-component fertilizers, production in March reached an estimated 51,000 tons compared to 57,000 tons in February.
During the preparation of the consolidated financial report for 2023, asset impairment tests were conducted within the company. These tests were also carried out in the subsidiaries.