Grupa Azoty Reports Record-high Net Profit in FY2015, Exceeds PLN10bn in Sales Revenues

11 Mar, 2016, 09:30 ET from Grupa Azoty

WARSAW, Poland, March 11, 2016 /PRNewswire/ --

Grupa Azoty, the European Union's second-largest fertiliser producer, reported a strong set of annual results on Friday, closing FY2015 with a record-high net profit of PLN692m (PLN265m in 2014, +PLN427m y/y), and exceeding PLN10bn in sales revenues for the first time (PLN9.9bn in 2014).  

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Photo caption: Commenting on the results announcement, Mariusz Bober, Grupa Azoty's Chief Executive Officer, said: "These results beat analysts' expectations, confirming our strong standing in the European fertilisers and chemical markets, and unprecedented growth rate offering one of the best investment returns in the industry globally. I am confident that further integration of the company and investments in innovative technologies will secure sustainable growth in the future."

[PLN 1 = $0.25, €0.23, £0.18]

Listed on the Warsaw Stock Exchange (WSE:ATT), Grupa Azoty is Poland's largest chemical company and the EU's second-largest producer of fertilisers. In December 2015, the company featured in a Boston Consulting Group ranking of top ten most value-creating chemical companies in the world.

Commenting on the results announcement, Mariusz Bober, Grupa Azoty's Chief Executive Officer, said:

These results beat analysts' expectations, confirming our strong standing in the European fertilisers and chemical markets, and unprecedented growth rate offering one of the best investment returns in the industry globally. 

I am confident that further integration of the company and investments in innovative technologies will secure sustainable growth in the future.  

Compared to 2014, the EBITDA results have gone up from PLN822m to PLN1.32bn.

Increase in Fertilisers' sales revenues by 9% (to PLN6bn), and improvement of the corresponding EBIT margin by 15% (to PLN840m), were the main drivers behind the positive financial results. Significant improvements in production, effective trade policy, and lower costs of key raw materials were among the main factors contributing to the increase.

Negative trends in the caprolactam market and economic slowdown in China affected Plastics. The EBITDA margin remained negative in FY2015, improving from -2% to -0.8%, with sales revenues of PLN1.2bn.

Despite lower sales revenues due to fall in OXO prices, Chemicals improved the margins (up to 6% from 2% in 2014), mostly thanks to lower prices of natural gas and sulphur.

Accumulated investment expenditure amounted to PLN907m with 53.7 percent (PLN487m) going into business development, and 29.9 percent into maintenance (PLN271m). The Company plans to spend further PLN2bn on investments in 2016.

Grupa Azoty's subsidiaries in Puławy and Police were the largest contributors to the Group's financial result with sales revenues of PLN3.8bn (PLN448m net profit compared to PLN225m in 2014) and PLN2.7bn (PLN165m net profit compared to PLN61m) respectively.

Full market update is available on the Company's website.

Enquiries:
Grzegorz Kulik
rzecznik@grupaazoty.com
+48 785780005

Maurent PR
azotyinternational@maurent.pl
+44 2034409616

SOURCE Grupa Azoty