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Grupa Azoty Reviews Non-Compete Agreements from Recent Years. First Complaint Filed with the Prosecutor's Office.
Grupa Azoty is currently analysing non-compete agreements signed in recent years that have been unfavourable for particular companies within the Group and have caused harm to these entities. The first such complaint, concerning the signing of a non-compete agreement after the termination of employment, has been filed by Grupa Azoty Puławy with the District Prosecutor's Office in Puławy.
02.09.2024
Grupa Azoty Announces Preliminary Financial Results
In the first half of 2024, Grupa Azoty generated consolidated sales revenues of PLN 6,743 million, with an EBITDA result of minus PLN 179 million and an EBITDA margin of minus 2.7%. This represents an improvement of nearly PLN 830 million compared to the same period last year. The net loss for the first half of this year amounted to PLN 748 million, compared to a loss of PLN 1,098 billion in the first half of 2023.
26.08.2024
Agreements Signed on Suspension of Collective Bargaining Agreements in Three Grupa Azoty Companies. Negotiations continue at Grupa Azoty's Puławy plant.
The management boards of Grupa Azoty S.A., Grupa Azoty Police, and Grupa Azoty Kędzierzyn have signed agreements with Trade Union Organizations to suspend selected cost-intensive provisions of their Collective Bargaining Agreements (ZUZP). This marks another step in the cost restructuring process that has been underway since spring this year, in response to the financial difficulties Grupa Azoty has faced since the second half of 2022.
26.08.2024
Grupa Azoty ZAK Completes Research Agenda for the Research and Development Center for 2018-2024
Grupa Azoty ZAK has successfully concluded the research agenda set for 2018-2024 at its Research and Development Center. With this achievement, the Kędzierzyn-based company within the Grupa Azoty Group has completed the project titled "Establishment of a Research and Development Center for the Development of Highly Advanced Plastics Chemistry Substances." The research agenda comprised two key tasks that provided substantial support for the Oxoplast Segment.
20.08.2024
Grupa Azoty Aims to Play a Significant Role in Ammonia Imports to the European Union
Ammonia is one of the key raw materials used in Grupa Azoty's production processes, particularly in the fertilizer segment. It is also highly cost-intensive—both in terms of production and emissions. Importantly, producing 1 ton of ammonia requires at least 950 cubic meters of natural gas. Given the role the cost of gas plays in fertilizer production, producers are increasingly opting to cease the expensive gas-based production of ammonia in favor of importing the ready-made intermediate. Striving for cost optimization, developing a new business area using the company’s own port infrastructure, and reducing emissions are the primary reasons Grupa Azoty is interested in importing ammonia. The company plans to begin these purchases after completing a routine overhaul of the unloading system, starting in October this year.
14.08.2024
Grupa Azoty Polyolefins and Financial Institutions Extend Financing Terms for Polimery Police Project
Following successful negotiations with the banks, Grupa Azoty Polyolefins signed an Amendment Agreement on August 6 to the Stabilization Agreement dated December 15, 2023, regarding the financing of the Polimery Police project. The parties have agreed on the conditions under which the Financial Institutions will provide financing for the project during the next period of the Stabilization Agreement, which extends until August 30, 2024. The Amendment Agreement was signed with 15 Financial Institutions.
07.08.2024
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