First half of the year in “PUŁAWY” with a profit of 37 million
Our Works have closed the first half of the year with a net profit of 37 million PLN, EBIT of 39 million PLN and EBITDA at 112 million PLN. The revenue from sales reached 1.763 billion PLN.
A downward trend in agriculture and the chemical sectors – the crucial markets for Grupa Azoty “PUŁAWY” – had the most significant impact on the financial results. At the same time, production in the key sectors grew by over 10%, making this year’s fertilization season look promising.
713 million PLN profit for Grupa Azoty
Since the financial results of “PUŁAWY” are of great importance to the results of the whole Grupa Azoty, the Board decided to present the draft consolidated financial results for the whole 2013. Basing on market information, net profit of the Group was estimated at 713 million PLN, EBIT at 702 million PLN, while the revenue from sales reached 9.821 billion PLN!
Optimistic forecast for fertilizers market
– In our view, the fertilization season are entering at the moment looks quite good – believes Paweł Jarczewski, who is the CEO of Grupa Azoty, but is also in charge of the Agricultural Segment in the Group. Also, the purchasing power of farmers grew significantly thanks to direct EU subsidies, which are higher than in 2013 by almost 100 PLN per hectare. We have also witnessed a slight upward movement on the agricultural goods market. Polish domestic cereal prices are among the highest in the region! In the opinion of our experts, the prices of nitrogen-based fertilizers are similar to last year’s prices while DAP and MAP (ammonium phosphate) prices are on the increase.