Grupa Azoty PUŁAWY has announced its financial results
The results of Grupa Azoty PUŁAWY proved better than expected by the market analysts who look into the economic situation of the chemical industry.
The revenue in Q2 2014 was higher than forecast and reached 880 million PLN. EBIDTA was 118 million PLN, while the analysts had expected 103.1 million PLN. Consequently, the net profit was higher than the forecast by 17 million, and amounted to 74 million PLN.
The fertilizer segment (called “Agro”) is the leading segment of the business activity of Our Company, bringing in 62% of the revenue. The chemical segment (mainly melamine and caprolactam) generated 34% of the turnover. The profits were higher than forecast, but slightly lower than in the same period in the previous financial year.
Change of the method of reporting the financial results
For Grupa Azoty PUŁAWY the second quarter of 2014 was the fourth quarter of the financial year which started on July 1st, 2013. This constitutes an exception, but the financial statement for this financial year will be given following full six quarters – through December 31st, 2014. In this way, we will now comply with the accounting standards of Grupa Azoty.
If the past four quarters, or the 12 months following July 1st, 2013 are taken into account, then the consolidated annual revenue of Grupa Azoty PUŁAWY capital group was 3,626 million PLN.