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A record year for Grupa Azoty
In 2015 the aggregate net profit of the company amounted to almost PLN 692 million and it was higher than last year by as much as PLN 427 million. The Police plant managed to generate PLN 165 million net as compared with PLN 61 million last year. Never before has the financial result been so high.
Grupa Azoty Zakłady Chemiczne Police SA
/fot.: archive /
Police’s sales revenues equalled PLN 2.7 billion (PLN 2.4 billion in 2014) and the aggregate sales revenues of Grupa Azoty exceeded PLN 10 billion (compared with PLN 9.9 billion in 2014). The EPS ratio increased 160% year on year.
It appears that the fertiliser segment was the main driving force behind the increase – the year-on-year revenue growth amounted to almost 9% (up to the level of PLN 6 billion). According to Grupa Azoty’s press release, such a substantial improvement in the segment could be partially attributed to the effective performance of the corporation’s commercial policy and the relatively low prices of strategic materials (natural gas and coal).
On the other hand, certain unfavourable tendencies are observed in the plastics sector - as a consequence, the sales results slumped. This is due to a drop in demand in China (being the consequence of a downturn in economy) The consolidated revenue in the chemical segment is also lower by PLN 203 million and amounts to PLN 2.3 billion. In this respect the fall is caused by price reductions of OXO alcohols which arise in connection with lowered prices of petroleum derivatives.
In the future years the financial results may improve even further, because individual companies of Grupa Azoty plan to expand their infrastructure. Last year Grupa Azoty Police invested PLN 212 million, among others, to partially finance the construction of an installation for propylene manufacturing via propane dehydration (PDH). The entire project will cost PLN 1.7 billion and is to be completed by 2019.
The total capital expenditures equalled PLN 907 million, and they were financed from Grupa Azoty‘s own funds, through a loan contract package and loans from NFOŚiGW and WFOŚiGW. This year the company plans to make financial outlays of approx. PLN 2 billion.
Grupa Azoty is among the key European holdings in the chemical sector. It is the second EU producer of nitrogenous and multi-component fertilizers. The Group was established through a series of acquisitions of Polish domestic chemical companies, and it consists of: Grupa Azoty S.A. (parent company headquartered in Tarnów), Grupa Azoty Zakłady Azotowe „Puławy” S.A, Grupa Azoty Zakłady Chemiczne „Police” S.A., Grupa Azoty Zakłady Azotowe Kędzierzyn S.A.
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