Good results of PUŁAWY

| Prospects & Investment |

On August 30th Grupa Azoty Zakłady Azotowe “PUŁAWY” published the financial results for Q4 and for the whole 2012/13 financial year. The results will bring satisfaction to all stakeholders due to the fact that they have confirmed and exceeded market expectations. The data for the whole year brought two records – the second largest net income in company history and the highest revenue from sales ever.

Quarterly financial results

The net profit of the Group reached 105.2 million PLN and was considerably higher that the market forecast of 92 million PLN. Operating income was 110.5 million PLN, while the revenue of the Group – at 930.2 million PLN – was slightly lower than in the previous quarter.

Excellent results were brought about by good profitability in the segments of fertilizers and energy. The chemical segment fell behind and produced a loss, mainly resulting from poor market for caprolactam.

Annual financial results

The net revenue of the Group was 392 million PLN, which is the second largest result in company history. At 3,684.5 million PLN, “PUŁAWY”‘s revenue has been the highest to date.

The Agro (agricultural) segment contributed the most to the success. This area of company activity produced 63.5% of overall revenue, namely 2,340.6 million PLN. Compared to the previous year, this sum has increased by 2,8 %. The Chemical segment comes second if share in revenue is considered, bringing 33,2% of revenue from sales or 1,223.3 million PLN.

Forecast for the future

It is the fertilizer market which looks the most promising in the foreseeable future. The prices are expected to remain at a similar level to the current one. Despite the low price of cereal on the market, which is a short-lived trend, the Agro segment is unlikely to suffer.