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Grupa Kapitałowa Grupa Azoty
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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.
Grupa Azoty has decided to stop publishing estimated production volumes. This decision was made, among other reasons, due to the lack of significant deviations in production volumes of Grupa Azoty companies in the recent period compared to the corresponding period of the previous year, while gradually increasing the utilization of production capacities within the Grupa Azoty S.A. Capital Group.
On May 10, 2024, the Supervisory Board of Grupa Azoty Polyolefins S.A. dismissed Paweł Bakun from his position as Vice President of the Management Board.
On May 7, the Supervisory Board of Grupa Azoty Puławy appointed Hubert Kamola as a Member of the Management Board, effective May 8, 2024, for the remaining duration of the three-year term starting on May 26, 2022. Mr. Kamola will take on the role of President of the Management Board.
In 2023, Grupa Azoty achieved consolidated sales revenues of PLN 13,545 million and an EBITDA result of minus PLN 1,366 million, with an EBITDA margin of minus 10.1%. The net loss amounted to PLN 3.29 billion. In 2023, Grupa Azoty relied significantly more on external financing, including loans and factoring, increasing debt by PLN 2.8 billion from PLN 7.1 billion at the end of 2022 to PLN 9.9 billion as of December 31, 2023.