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Annual Report 2016
  Strength of creation
Annual Report Grupa Azoty 2016
A stable financial position allowed us to pay dividends to shareholders, and also to move forward on our current capital projects and put in place ambitious investment plans.
dr Wojciech Wardacki, PhD
President of the Management Board, Grupa Azoty S.A.
Commentary of the President of the Management Board
PRODUCTS
MANAGEMENT
INVESTMENTS
FINANCES
ACTIVITY
INNOVATION

PRODUCTS

Grupa Azoty’s core business lines:

  • Agro Fertilizers
  • Plastics
  • OXO
  • Titanium white
  • Melamine
  • Speciality fine chemicals

Our products find practical applications in virtually all branches of the economy

MANAGEMENT

A new organisational model for the Group will be developed by 2020, which will help to maximise synergies through integration of selected support functions and implementation of a management system based on key business segments.

INVESTMENTS

Grupa Azoty keeps track of and follows current trends, including in the area of research, development and innovation (R&D&I). We do not want to be a mere beneficiary but an active participant of initiatives being implemented Poland. Our ultimate goal is to lead the way and break new ground in innovation.

FINANCES

The financing structure will be tailored to the Group’s needs and capabilities, enabling us to implement vital investment projects. The overriding goal underpinning our financing structure is to ensure long-term financial security and internal coherence between all funding sources.

ACTIVITY

We are the leading producer of fertilizers and chemicals in Poland and Europe. Our Group comprises four key production companies, based in Tarnów, Puławy, Police and Kędzierzyn-Koźle, and around a dozen subsidiaries. We operate our own logistics infrastructure as well as research, design and maintenance facilities.

INNOVATION

With its own unique expertise in agricultural products, Grupa Azoty will become an active
participant in research, development and innovation projects in Poland, particularly those focused
on developing and marketing advanced, profitable, low-tonnage specialty products.

Strategy

By 2020, the Azoty Group will consist of five value-added business segments (Fertilizers, Plastics, Oxoplast, Pigments and Melamine) and the Energy Sector (internal) segment, with the possibility of entering new segments, including new plastics and energy.

See our strategy

Significant events 2016

21.08.2017

Wojciech Wardacki takes over as new Grupa Azoty President

On December 16th 2016, Friday, the Supervisory Board of Grupa Azoty S.A. appointed Mr Wojciech Wardacki, DSc(Econ), as President of the Management Board of Grupa Azoty S.A. At the same meeting, the Supervisory Board removed the previous President Mariusz Bober. Both resolutions, i.e. the resolution appointing the new President and the resolution removing the previous one, took effect on the date they were adopted. The previous President held the office for less than ten months starting from last February.

21.08.2017

Grupa Azoty for the 10th time in the RESPECT Index

On December 14th, the list of stocks included in the tenth edition of the RESPECT Index was announced in the Listing Room of the Warsaw Stock Exchange. This year, the index included a record number of twenty five companies. It is Grupa Azoty S.A.’s enormous success to find itself among the eight companies that have been continuously included in the index since its launch in 2009.

21.08.2017

Grupa Azoty to participate in financing of the PDH project

On October 4th 2016 in Police, Grupa Azoty S.A. signed a letter of intent with its subsidiary Grupa Azoty Zakłady Chemiczne Police S.A. on equity participation in a project involving the construction of a PDH unit. The signing ceremony was attended by the Polish President Andrzej Duda.

21.08.2017

Grupa Azoty signs amendment to investment loan facility agreement

On September 20th 2016, the Management Board of Grupa Azoty S.A. and Powszechna Kasa Oszczędności Bank Polski signed an amendment to a loan facility agreement. On September 20th 2016, the Management Board of Grupa Azoty S.A. and Powszechna Kasa Oszczędności Bank Polski signed an amendment to a loan facility agreement. The agreement, signed with a bank syndicate including PKO Bank Polski as the facility agent, was executed in April 2015. The facility will provide Grupa Azoty with funding it intends to apply towards the investment programme envisaged in Grupa Azoty’s strategy until 2020, among other projects.

21.08.2017

PGNiG S.A. and Grupa Azoty sign a new multi-year gas supply agreement

On April 13th 2016, Polskie Górnictwo Naftowe i Gazownictwo S.A. (PGNiG S.A.) and the Grupa Azoty Group concluded a new gas supply agreement. Under a framework agreement and bilateral contracts, PGNiG will supply natural gas to five companies of the Grupa Azoty Group, including the companies based in Tarnów, Puławy, Police and Kędzierzyn, as well as to Siarkopol.

68 PROJECTS
INVESTMENT

Key data

A changing market landscape made 2016 a challenging year for Grupa Azoty. But despite the difficult macro environment, we are satisfied with the good work that we did and the strong results that we delivered this past year. A stable financial position allowed us to pay dividends to shareholders, and also to move forward on our current capital projects and put in place ambitious investment plans.

Go to financial results
Interactive data Significan agreements and events 2016 Business overview

Corporate governance

Having declared compliance with the highest capital market communication standards and principles of corporate governance, in 2016 the Grupa Azoty S.A. applied the “Code of Best Practice for WSE Listed Companies 2016”, prepared by the Warsaw Stock Exchange.

Management Board Supervisory Board
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