Grupa Azoty S A : Ad. 10 Consolidated financial statement 2023 (2024)

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May. 29 Transcript : Grupa Azoty S.A., Q1 2024 Earnings Call, May 29, 2024
May. 28 Grupa Azoty S.A. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

June 04, 2024 at 10:08 am EDT

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Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023

(all amounts in PLN '000 unless indicated otherwise)

Contents

Material consolidated financial highlights

4

Consolidated statement of comprehensive income

5

Consolidated statement of financial position

6

Consolidated statement of changes in equity for the period ended 31 December 2023

7

Consolidated statement of changes in equity for the period ended 31 December 2022

7

Consolidated statement of cash flows

8

Notes to the consolidated financial statements

9

1. Organisation of the Group

9

2. Composition of the Group

9

3. Changes in the Group's structure

12

4. Management Board and Supervisory Board of the Parent

12

5. Material accounting policies

16

5.1. Compliance statement

16

5.2. Changes in applied accounting policies and data presentation

16

5.3. Basis of accounting

18

5.4. Functional currency and presentation currency

18

5.5. Professional judgement and estimates

19

5.6. Going concern assumption

21

5.7. Basis of consolidation

23

5.7.1. Subsidiaries

23

5.7.2. Associates and joint ventures

23

5.7.3. Consolidation procedures

24

5.7.4. Business combinations

24

5.7.5. Acquisition of non-controlling interests

24

5.7.6. Loss of control

24

6. Impairment testing

24

7. Execution of Waiver and Amendment Letters

27

8. Other information

27

9. Business segment reporting

28

10. Notes to the consolidated financial statements

32

NOTES TO THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

32

Note 1. Revenue from contracts with customers

32

Note 2. Operating expenses

34

Note 2.1. Employee benefits expense

35

Note 2.2. Reconciliation of lease costs

35

Note 3. Other income

36

Note 4. Other expenses

36

Note 5. Finance income

37

Note 6. Finance costs

37

Note 7. Income tax

38

Note 7.1. Income tax expense disclosed in the statement of profit or loss

38

Note 7.2. Effective tax rate

38

Note 7.3. Income tax expense disclosed in other comprehensive income

39

Note 7.4. Deferred tax assets and liabilities

39

Note 7.5. Change in temporary differences

40

Note 7.6. Unrecognised deferred tax assets/liabilities

41

Note 8. Earnings per share

41

NOTES TO THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION

42

Note 9. Property, plant and equipment

42

Note 10. Right-of-use assets

44

Note 11. Investment property

47

Note 12. Intangible assets

47

Note 12.1. Goodwill

49

Note 13. Financial assets

50

Note 13.1. Shares

50

Note 13.2. Other financial assets

51

Note 14. Inventories

51

Note 15. Property rights

52

Note 15.1. CO2 emission allowances

52

Note 16. Trade and other receivables

53

Grupa Azoty Spółka Akcyjna

Page 2 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023

(all amounts in PLN '000 unless indicated otherwise)

Note 16.1. Accrued expenses

54

Note 17. Cash

55

Note 18. Other assets

56

Note 19. Equity

56

Note 19.1. Share capital

56

Note 19.2. Share premium

56

Note 19.3. Hedging reserve

57

Note 19.4. Non-controlling interests

57

Note 19.5. Acquisition of non-controlling interests

58

Note 19.6. Obligation to repurchase shares in Grupa Azoty POLYOLEFINS from non-controlling shareholders

58

Note 19.7. Recognition of a future obligation to repurchase shares in Grupa Azoty POLYOLEFINS from non-controlling shareholders for

subsequent cancellation, involving a rate-of-return stabilisation mechanism

58

Note 19.8. Dividend

59

Note 20. Borrowings

59

Note 21. Lease liabilities

61

Note 22. Other financial liabilities

62

Note 23. Change in liabilities arising from financing activities

64

Note 24. Employee benefit obligations

64

Note 25. Trade and other payables

67

Note 25.1. Accrued expenses

68

Note 26. Provisions

68

Note 27. Grants

70

NOTES TO FINANCIAL INSTRUMENTS

71

Note 28. Financial instruments

71

Note 28.1. Capital management

73

Note 28.2. Categories of financial instruments

73

Note 28.3. Financial risk management

75

Note 28.4. Fair value of financial instruments

79

Note 28.5. Derivative instruments

80

Note 28.6. Hedge accounting

81

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS

82

Note 29. Notes to the statement of cash flows

82

OTHER NOTES

82

Note 30. Contingent liabilities, contingent assets, sureties and guarantees

82

Note 31. Related-party transactions

83

Note 32. Investment commitments

86

Note 33. Impact of the war in Ukraine

86

Note 34. Information on sanctions

87

Note 35. Events after the reporting date

87

Signatures of members of the Management Board

90

Person responsible for maintaining accounting records

90

Grupa Azoty Spółka Akcyjna

Page 3 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023 (all amounts in PLN '000 unless indicated otherwise)

Material consolidated financial highlights

x

(PLN '000)

(EUR '000)

For period

For period

For period

For period

1 Jan −

1 Jan −

1 Jan −

1 Jan −

31 Dec 2023

31 Dec 2022

31 Dec 2023

31 Dec 2022

Revenue

13,545,094

24,657,853

2,991,143

5,259,444

Operating (loss)/profit

(3,600,222)

865,649

(795,032)

184,640

(Loss)/profit before tax

(3,583,264)

688,686

(791,287)

146,895

Net (loss)/profit

(3,290,464)

583,820

(726,628)

124,527

Comprehensive income for period

(3,474,889)

1,040,754

(767,355)

221,990

Number of shares

99,195,484

99,195,484

99,195,484

99,195,484

Earnings/(loss) per ordinary share (PLN)

(28.45)

6.25

(6.28)

1.33

Net cash from operating activities

6,558,992

5,608,373

1,448,413

1,196,249

Net cash from investing activities

(2,494,175)

(2,808,542)

(550,785)

(599,053)

Net cash from financing activities

(4,419,708)

(3,792,730)

(975,998)

(808,978)

Total net cash flows

(354,891)

(992,899)

(78,370)

(211,782)

Cash and cash equivalents at beginning of period

1,376,541

2,362,193

303,980

503,849

Cash and cash equivalents at end of period

1,012,355

1,376,541

223,557

293,612

As at

As at

As at

As at

31 Dec 2023

31 Dec 2022

31 Dec 2023

31 Dec 2022

Non-current assets

17,265,116

16,948,753

3,970,818

3,613,884

Current assets

7,031,404

8,916,891

1,617,158

1,901,297

Non-current liabilities

2,997,479

7,294,419

689,393

1,555,346

Current liabilities

14,830,752

8,614,858

3,410,937

1,836,896

Equity

6,468,289

9,956,367

1,487,647

2,122,938

Share capital

495,977

495,977

114,070

105,754

Non-controlling interests

516,835

1,021,718

118,867

217,855

Material items of the statement of comprehensive income, statement of financial position and statement of cash flows have been translated into the euro using the generally applicable method described below:

  • Items of assets and equity and liabilities in the statement of financial position have been translated at the exchange rate effective for the last day of the reporting period:
    the exchange rate as at 29 December 2023 was EUR 1 = PLN 4.3480 (table No. 251/A/NBP/2023); the exchange rate as at 31 December 2022 was EUR 1 = PLN 4.6899 (table No. 252/A/NBP/2022);
  • Items of the statement of comprehensive income and statement of cash flows have been translated using the arithmetic average of the EUR/PLN exchange rates announced by the National Bank of Poland for the last day of each month in the reporting period:
    in the period 1 January 2023-31 December 2023, the average exchange rate was EUR 1 = PLN 4.5284; in the period 1 January 2022-31 December 2022, the average exchange rate was EUR 1 = PLN 4.6883.

The translation was made using the exchange rates specified above by dividing amounts expressed in thousands of the złoty by the exchange rate.

Grupa Azoty Spółka Akcyjna

Page 4 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023 (all amounts in PLN '000 unless indicated otherwise)

Consolidated statement of comprehensive income

(PLN '000 except for earnings per share)

For period

For period

x

Note

1 Jan −

1 Jan −

31 Dec 2023

31 Dec 2022

Profits and losses

Revenue

1

13,545,094

24,657,853

Cost of sales

2

(13,833,787)

(20,722,832)

Gross (loss)/profit

(288,693)

3,935,021

Selling and distribution expenses

2

(976,300)

(1,164,041)

Administrative expenses

2

(983,820)

(979,960)

Other income

3

421,151

111,552

Other expenses

4

(1,772,560)

(1,036,923)

Operating (loss)/profit

(3,600,222)

865,649

Finance income

5

363,453

136,027

Finance costs

6

(374,055)

(331,140)

Net finance income/(costs)

(10,602)

(195,113)

Share of profit of equity-accounted investees

27,560

18,150

(Loss)/profit before tax

(3,583,264)

688,686

Income tax

7.1

292,800

(104,866)

Net (loss)/profit

(3,290,464)

583,820

Other comprehensive income

Actuarial losses from defined benefit plans

Losses on remeasurement of equity instruments at fair value through other comprehensive income

Tax on items that will not be reclassified to profit or loss

Items that will not be reclassified to profit or loss

Cash flow hedges - effective portion of fair-value change Translation reserve

Income tax relating to items that are or will be reclassified to profit or loss

Items that are or may be reclassified to profit or loss

Total other comprehensive income

Comprehensive income for period

Net (loss)/profit attributable to:

Owners of the parent

Non-controlling interests

Comprehensive income for period attributable to:

Owners of the parent

Non-controlling interests

(Loss)/earnings per share: Basic (PLN)

Diluted (PLN)

24

(30,707)

(2,247)

-

(2,569)

7.3

5,676

520

(25,031)

(4,296)

29

(51,900)

427,759

(96,956)

32,441

7.3

(10,538)

1,030

(159,394)

461,230

(184,425)

456,934

(3,474,889)

1,040,754

8

(2,822,147)

620,122

(468,317)

(36,302)

(2,983,195)

992,735

(491,694)

48,019

(28.45)

6.25

(28.45)

6.25

Grupa Azoty Spółka Akcyjna

Page 5 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023 (all amounts in PLN '000 unless indicated otherwise)

Consolidated statement of financial position

x

Note

As at

As at

31 Dec 2023

31 Dec 2022

ASSETS

NON-CURRENT ASSETS

Property, plant and equipment

9

13,676,472

13,392,162

Right-of-use assets

10

760,159

758,713

Investment property

11

71,290

66,613

Intangible assets

12

892,274

971,484

Goodwill

12.1

282,848

305,016

Shares

13.1

10,172

10,172

Equity-accounted investees

13.1

104,642

95,436

Other financial assets

13.2

2,858

3,961

Derivative financial instruments

28.4

291,543

383,800

Other receivables

16

609,262

629,999

Deferred tax assets

7.4

563,087

330,889

Other non-current assets

18

509

508

Total non-current assets

17,265,116

16,948,753

CURRENT ASSETS

Inventories

14

2,469,246

3,444,385

Property rights

15

2,047,478

2,009,349

Derivative financial instruments

28.4

-

3,122

Other financial assets

13.2

2,005

1,998

Current tax assets

47,467

33,719

Trade and other receivables

16

1,432,699

2,026,024

Cash and cash equivalents

17

1,012,355

1,376,541

Other current assets

18

20,154

21,753

Total current assets

7,031,404

8,916,891

TOTAL ASSETS

24,296,520

25,865,644

EQUITY AND LIABILITIES

EQUITY

Share capital

19.1

495,977

495,977

Share premium

19.2

2,418,270

2,418,270

Hedging reserve

19.3

243,830

285,136

Translation reserve

(9,483)

87,421

Other capital reserves

(17,700)

(17,700)

Retained earnings

2,820,560

5,665,545

Equity attributable to owners of the parent

5,951,454

8,934,649

Non-controlling interests

516,835

1,021,718

Total equity

6,468,289

9,956,367

LIABILITIES

Borrowings

20

626,865

4,971,706

Lease liabilities

21

375,714

360,957

Other financial liabilities

22

789,893

682,818

Employee benefit obligations

24

477,788

439,656

Trade and other payables

25

9,122

17,887

Provisions

26

234,707

241,007

Grants

27

185,321

193,896

Deferred tax liabilities

7.4

298,069

386,492

Total non-current liabilities

2,997,479

7,294,419

Borrowings

20

6,867,697

689,738

Derivative financial instruments

28.4

6,680

-

Lease liabilities

21.

72,145

71,629

Other financial liabilities

22

2,188,240

1,290,942

Employee benefit obligations

24

49,726

54,801

Current tax liabilities

31,186

243,545

Trade and other payables

25

5,388,239

6,141,011

Provisions

26

123,257

94,345

Grants

27

103,582

28,847

Total current liabilities

14,830,752

8,614,858

Total liabilities

17,828,231

15,909,277

TOTAL EQUITY AND LIABILITIES

24,296,520

25,865,644

Grupa Azoty Spółka Akcyjna

Page 6 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023 (all amounts in PLN '000 unless indicated otherwise)

Consolidated statement of changes in equity for the period ended 31 December 2023

x

As at 1 Jan 2023

Other

Equity

Share

Share

Hedging

Translation

Retained

attributable to

Non-controlling

capital

Total equity

capital

premium

reserve

reserve

earnings

owners of the

interests

reserves

parent

495,977

2,418,270

285,136

87,421

(17,700)

5,665,545

8,934,649

1,021,718

9,956,367

Profit or loss and other comprehensive income

Net loss

-

-

-

-

-

(2,822,147)

(2,822,147)

(468,317)

(3,290,464)

Other comprehensive income

-

-

(41,306)

(96,904)

-

(22,838)

(161,048)

(23,377)

(184,425)

Comprehensive income for

(2,844,985

period

-

-

(41,306)

(96,904)

-

)

(2,983,195)

(491,694)

(3,474,889)

Transactions with owners,

recognised directly in equity

Dividends

(13,189)

(13,189)

As at 31 Dec 2023

495,977

2,418,270

243,830

(9,483)

(17,700)

2,820,560

5,951,454

516,835

6,468,289

Consolidated statement of changes in equity for the period ended 31 December 2022

x

As at 1 Jan 2022

Profit or loss and other comprehensive income

Other

Share

Share

Hedging

Translation

Retained

capital

capital

premium

reserve

reserve

earnings

reserves

495,977

2,418,270

(58,403)

54,936

(17,700)

5,048,783

Equity

attributable to Non-controllingowners of the interests parent

7,941,863 990,304

Total equity

8,932,167

Net profit

-

-

-

-

-

620,122

620,122

(36,302)

583,820

Other comprehensive income

-

-

343,539

32,485

-

(3,411)

372,613

84,321

456,934

Comprehensive income for

period

-

-

343,539

32,485

-

616,711

992,735

48,019

1,040,754

Transactions with owners,

recognised directly in equity

Dividends

-

-

-

-

-

-

-

(16,482)

(16,482)

Changes in ownership interests

in subsidiaries

Changes in the Group

-

-

-

-

-

51

51

(123)

(72)

As at 31 Dec 2022

495,977

2,418,270

285,136

87,421

(17,700)

5,665,545

8,934,649

1,021,718

9,956,367

Grupa Azoty Spółka Akcyjna

Page 7 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023 (all amounts in PLN '000 unless indicated otherwise)

Consolidated statement of cash flows

For period

For period

x

Note

1 Jan −

1 Jan −

31 Dec 2023

31 Dec 2022

Cash flows from operating activities

(Loss)/profit before tax

(3,583,264)

688,686

Depreciation and amortisation

808,174

756,013

Recognition of impairment losses

1,420,896

916,999

Gain on investing activities

(6,133)

(852)

Share of profit of equity-accounted investees

(27,559)

(18,150)

Interest, foreign exchange gains or losses

269,602

162,888

Dividends

(35)

(311)

Fair value (loss)/gain on financial assets

143,280

(293,532)

Decrease in trade and other receivables

29

696,588

357,108

Decrease/(increase) in inventories and property rights

881,146

(1,571,483)

Increase in trade and other payables

29

6,153,406

4,810,195

Increase in provisions

29

5,395

25,594

Increase in employee benefit obligations

29

10,039

17,190

Increase/(decrease) in grants

29

58,431

(8,074)

Other adjustments

(14,470)

(1,961)

Income tax paid

(256,504)

(231,937)

Net cash from operating activities

6,558,992

5,608,373

Cash flows from investing activities

Proceeds from sale of intangible assets, property,

29

plant and equipment, and investment property

3,823

27,534

Purchase of intangible assets, property,

plant and equipment, and investment property

(2,496,079)

(2,830,715)

Dividend received

35

-

Purchase of other financial assets

(1,997)

(3,994)

Proceeds from sale of other financial assets

1,997

3,994

Loans

-

(1,219)

Other cash provided by (used in) investing activities

(1,954)

(4,142)

Net cash from investing activities

(2,494,175)

(2,808,542)

Cash flows from financing activities

Dividends paid

(13,189)

(16,482)

Proceeds from borrowings

2,106,693

2,084,701

Repayment of borrowings

(99,496)

(878,737)

Interest paid

(414,081)

(199,172)

Payment of lease liabilities

(78,017)

(71,429)

Payment of reverse factoring liabilities

(5,929,115)

(4,725,291)

Other cash provided by (used in) financing activities

7,497

13,680

Net cash from financing activities

(4,419,708)

(3,792,730)

Total net cash flows

(354,891)

(992,899)

Cash and cash equivalents at beginning of period

1,376,541

2,362,193

Effect of exchange rate fluctuations on cash held

(9,295)

7,247

Cash and cash equivalents at end of period

1,012,355

1,376,541

The consolidated statement of comprehensive income, consolidated statement of financial position, consolidated statement of changes in equity, and the consolidated statement of cash flows should be read in conjunction with the notes, which constitute an integral part of the full-year consolidated financial statements.

Grupa Azoty Spółka Akcyjna

Page 8 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023 (all amounts in PLN '000 unless indicated otherwise)

Notes to the consolidated financial statements

1. Organisation of the Group

The Grupa Azoty Spółka Akcyjna Group (the "Grupa Azoty Group" or the "Group") comprises Grupa Azoty Spółka Akcyjna (the "Parent", "GASA") and its subsidiaries.

Grupa Azoty Spółka Akcyjna is the ultimate Parent of the Group.

The Parent's principal place of business and registered office are located in Tarnów, Poland.

Tts registered office address is ul. Eugeniusza Kwiatkowskiego 8, 33-101 Tarnów, Poland.

The Parent is incorporated Poland.

The Parent is a joint-stock company.

The principal place of business of the Grupa Azoty Group companies are the towns where the companies' registered offices are located.

The Group's principal business is in particular the processing of nitrogen products, manufacture and sale of fertilizers, manufacture and sale of plastics, manufacture and sale of oxo alcohols, manufacture and sale of titanium white, manufacture and sale of melamine, production of sulfur and processing of sulfur products.

The Parent was entered in the Register of Businesses in the National Court Register (entry No. KRS 0000075450) on 28 December 2001, pursuant to a ruling of the District Court for Kraków-Śródmieście in Kraków, 12th Commercial Division of the National Court Register, dated 28 December 2001. The Parent's REGON number for public statistics purposes is 850002268.

As of 22 April 2013, the Parent trades under the name Grupa Azoty Spółka Akcyjna (abbreviated to Grupa Azoty S.A.). During the reporting period, the Parent did not change its name.

The Parent and the Group companies were incorporated for an indefinite period.

These consolidated financial statements were authorised for issue by the Parent's Management Board on 29 April 2024.

2. Composition of the Group

As at 31 December 2023, the Grupa Azoty Group comprised: Grupa Azoty Spółka Akcyjna as the Parent and its subsidiaries:

Grupa Azoty Spółka Akcyjna

Page 9 of 90

Consolidated financial statements of the Grupa Azoty Group for the 12 months ended 31 December 2023 (all amounts in PLN '000 unless indicated otherwise)

x

Name

Entity holding

Interest

Share capital

Consolidation

shares

held

method

1.

Grupa Azoty S.A.

Parent

PLN 495,977

Parent

thousand

2.

COMPO EXPERT Holding GmbH ("COMPO EXPERT")

GASA

100%

EUR 25 thousand

Full

3.

Grupa Azoty ATT Polymers GmbH ("ATT Polymers")

GASA

100%

EUR 9,000

Full

thousand

4.

Grupa Azoty Compounding Sp. z o.o. ("Grupa Azoty

GASA

100%

PLN 72,008

Full

COMPOUNDING")

thousand

5.

Grupa Azoty Energia Sp. z o.o. ("Grupa Azoty ENERGIA")

GASA

100%

PLN 1,000

Full

thousand

6.

Grupa Azoty Kopalnie i Zakłady Chemiczne Siarki Siarkopol

GASA

99.56%

PLN 60,620

Full

S.A. ("Grupa Azoty SIARKOPOL")

thousand

7.

Grupa Azoty Zakłady Azotowe Puławy S.A. ("Grupa Azoty

GASA

95.98%

PLN 191,150

Full

PUŁAWY")

thousand

8.

Grupa Azoty Zakłady Azotowe Kędzierzyn S.A. ("Grupa

GASA

93.48%

PLN 285,064

Full

Azoty KĘDZIERZYN")

thousand

Grupa Azoty Polskie Konsorcjum Chemiczne Sp. z o.o.

GASA

63.27%

PLN 85,631

9.

Grupa Azoty

Full

("Grupa Azoty PKCh")

36.73%

thousand

KĘDZIERZYN

10.

Grupa Azoty Zakłady Chemiczne Police S.A. ("Grupa Azoty

GASA

62.86%

PLN 1,241,758

Full

POLICE")

thousand

GASA

60.00%

Grupa Azoty

20.00%

PLN 54,600

11.

Grupa Azoty Koltar Sp. z o.o. ("Grupa Azoty KOLTAR")

KĘDZIERZYN

Full

thousand

Grupa Azoty

20.00%

PUŁAWY

Grupa Azoty Polyolefins Spółka Akcyjna ("Grupa Azoty

GASA

30.52%

PLN 922,968

12.

Grupa Azoty

Full

POLYOLEFINS")

34.41%

thousand

POLICE

13.

Agrochem Puławy Sp. z o.o.

Grupa Azoty

100.00%

PLN 68,639

PUŁAWY

thousand

Full

14.

SCF Natural Sp. z o.o.

Grupa Azoty

100.00%

PLN 15,001

Full

PUŁAWY

thousand

15.

Grupa Azoty Zakłady Fosforowe Gdańsk Sp. z o.o.

Grupa Azoty

99.19%

PLN 59,003

Full

PUŁAWY

thousand

16.

Grupa Azoty Zakłady Azotowe Chorzów S.A.

Grupa Azoty

96.48%

PLN 94,700

Full

PUŁAWY

thousand

17.

STO-ZAP Sp. z o.o.

Grupa Azoty

96.15%

PLN 1,117

Not consolidated

PUŁAWY

thousand

18.

Remzap Sp. z o.o.

Grupa Azoty

97.17%

PLN 3,528

Full

PUŁAWY

thousand

Grupa Azoty

78.86%

PUŁAWY

19.

Prozap Sp. z o.o.

PLN 892 thousand

Full

Grupa Azoty

7.35%

POLICE

20.

Bałtycka Baza Masowa Sp. z o.o.

Grupa Azoty

50.00%

PLN 19,500

Equity method

PUŁAWY

thousand

21.

Grupa Azoty Transtech Sp. z o.o.

Grupa Azoty

100.00%

PLN 9,783

Full

POLICE

thousand

22.

Grupa Azoty Police Serwis Sp. z o.o.

Grupa Azoty

100.00%

PLN 21,426

Full

POLICE

thousand

23.

Grupa Azoty Africa S.A. w likwidacji (in liquidation)

Grupa Azoty

99.99%

XOF 132,000

Full

POLICE

thousand

24.

Zarząd Morskiego Portu Police Sp. z o.o.

Grupa Azoty

99.91%

PLN 32,642

Full

POLICE

thousand

25.

Budchem Sp. z o.o. w upadłości likwidacyjnej (in

Grupa Azoty

48.96%

PLN 1,201

Not consolidated

liquidation bankruptcy)

POLICE

thousand

26.

Kemipol Sp. z o.o.

Grupa Azoty

33.99%

PLN 3,445

Equity method

POLICE

thousand

27.

ZAKSA S.A.

Grupa Azoty

92.45%

PLN 6,000

Full

KĘDZIERZYN

thousand

28.

Grupa Azoty Jednostka Ratownictwa

Grupa Azoty PKCH

100.00%

PLN 21,749

Full

Chemicznego Sp. z o.o. ("Grupa Azoty JRCH")

thousand

29.

Grupa Azoty Prorem Sp. z o.o. ("Grupa Azoty PROREM")

Grupa Azoty PKCH

100.00%

PLN 11,567

Full

thousand

Grupa Azoty Spółka Akcyjna

Page 10 of 90

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Grupa Azoty SA published this content on 04 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2024 14:07:07 UTC.

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Latest news about Grupa Azoty S.A.

Transcript : Grupa Azoty S.A., Q1 2024 Earnings Call, May 29, 2024
Grupa Azoty S.A. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Transcript : Grupa Azoty S.A., Q1 2024 Earnings Call, Apr 30, 2024
Grupa Azoty S.A. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
Azoty Group Provides Earnings Guidance for the Fourth Quarter and Full Year 2023 CI
Azoty Group Appoints New Members to Supervisory Board CI
Azoty Reports Production Results for the January 2024 CI
Grupa Azoty S.A. Agrees on the Key Terms of A Transaction to Acquire A 100 Percent Stake in Solarfarm Brzezinka CI
Grupa Azoty Stops Talks On Potential Takeover Of GA Pulawy By Orlen CI
Grupa Azoty S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI
Grupa Azoty S.A. Reports Production Results for the Month of September 2023 CI
Transcript : Grupa Azoty S.A., H1 2023 Earnings Call, Sep 28, 2023
Grupa Azoty S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023 CI
Grupa Azoty S.A. Suffers Interruption of Fertilizers Production by Kedzierzyn Unit - Filing, Temporarily Halted CI
Azoty Launches Polypropylene Production at Polimery Police, Expects First Sales in August CI
Orlen Eyes Takeover of Grupa Azoty Pulawy CI
Grupa Azoty Starts Talks on Potential Acquisition of GA Pulawy by PKN Orlen CI
Polish fertiliser company Grupa Azoty highlights financing risks after Q1 loss RE
Transcript : Grupa Azoty S.A., Q1 2023 Earnings Call, May 23, 2023
Grupa Azoty S.A. Reports Earnings Results for the First Quarter Ended March 31, 2023 CI
Transcript : Grupa Azoty S.A., Q4 2022 Earnings Call, Mar 31, 2023
Grupa Azoty S.A. Reports Earnings Results for the Full Year Ended December 31, 2022 CI
Grupa Azoty S.A. Announces Executive Changes CI
Transcript : Grupa Azoty S.A., Grupa Azoty Zaklady Azotowe "Pulawy" S.A, Grupa Azoty Zaklady Chemiczne Police S.A., Q3 2022 Earnings Call, Nov 10, 2022
Grupa Azoty S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022 CI

Chart Grupa Azoty S.A.

Grupa Azoty S A : Ad. 10 Consolidated financial statement 2023 (2)

More charts

Company Profile

Grupa Azoty SA is a Poland-based producer of chemical products. Its products portfolio is divided into five segments. Fertilizers segment includes manufacturing and sales of nitrogenous fertilizers (urea, nitrate, ammonium nitrates, ammonium sulphate nitrate, a mixture of ammonium sulphate and urea, ammonium sulphate), compound fertilizers, ammonia; Plastics segment is engaged in manufacturing and sales of polyamide 6 (Tarnamid, Alphalon), polyacetal (Tarnoform), caprolactam; OXO segment includes manufacturing and sales of alcohols (2-ethylohexanol, n-butanol, isobutanol, octanol F) and plasticizers, such as bis(2-ethylhexyl) phthalate, diisobutyl phthalate, among others; Pigment segment is engaged in manufacturing and sales of titanium white, Tytanpol; Other Activities segment includes energy, laboratory services, catalysts, rental of properties. The Company operates through subsidiaries, including Grupa Azoty ZAK SA, ATT Polymers GmbH, Zaklady Chemiczne Police SA, among others.

Sector

Agricultural Chemicals

Calendar

2024-08-27 - Q2 2024 Earnings Release

More about the company

Income Statement Evolution

More financial data

Ratings for Grupa Azoty S.A.

Trading Rating

Investor Rating

ESG Refinitiv

C

More Ratings

Analysts' Consensus

Sell

Grupa Azoty S A : Ad. 10 Consolidated financial statement 2023 (3)

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

4

Last Close Price

22.38PLN

Average target price

21.86PLN

Spread / Average Target

-2.35%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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1st Jan change Capi.

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  5. Grupa Azoty S A : Ad. 10 Consolidated financial statement 2023
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Grupa Azoty S A : Ad. 10 Consolidated financial statement 2023 (14)

Grupa Azoty S A :  Ad. 10 Consolidated financial statement 2023 (2024)
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