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The Kędzierzyn-Koźle-based subsidiary of Grupa Azoty has signed an agreement with the National Centre for Research and Development (NCBR) to secure funding for a project entitled “New Biodegradable Polylactide Formulations Plasticized with Bioplasticizers, Preparation of Materials in Granule and Film Form, Digitalization and Automation of Laboratory Processes.” The funding amounts to PLN 3.2 million, which represents 55% of the project’s eligible expenses.
On October 31, 2024, following discussions and agreements with banks, Grupa Azoty Polyolefins signed an Amendment Agreement to the Stabilization Agreement dated December 15, 2023, regarding the financing of the Polimery Police project. The parties have agreed to the terms under which financial institutions will continue providing financing for the project during the extended term of the Stabilization Agreement, which now runs until November 29, 2024. The Amendment Agreement was signed with 15 financial institutions.
Grupa Azoty Puławy has signed a Letter of Intent with Skłodowski sp. z o.o., signaling its interest in collaboration on renewable ammonia, which is planned to be produced at Skłodowski’s production facility.
With the three-year term of the current Management Board of Grupa Azoty S.A. coming to an end, the Supervisory Board has announced a qualification process for new Board Members for the 13th term. The current 12th term began in May 2021 and, as per applicable regulations, will end on December 31, 2024. In such cases, initiating the qualification process is a statutory obligation.
Grupa Azoty Kędzierzyn has submitted a criminal complaint alleging misconduct related to research and development projects outsourced to external entities in 2021–2022. The complaint claims that the company received information during the projects’ execution that the activities were futile, yet expenses continued to be incurred. According to the filing, the estimated financial loss to Grupa Azoty Kędzierzyn from these projects is approximately PLN 10.7 million.
In Q3 2024, Grupa Azoty generated consolidated sales revenue of PLN 3.085 billion and an EBITDA result of minus PLN 120 million, with an EBITDA margin of minus 3.9%, reflecting an improvement of approximately PLN 228 million compared to the same period in 2023. The net loss for the quarter decreased year-over-year by PLN 517 million, amounting to PLN 226 million, compared to a loss of PLN 743 million in Q3 2023.