European Commission delegates in Grupa Azoty ”PUŁAWY”

| About Us |

On March 31st, 2014 Grupa Azoty Zakłady Azotowe ”PUŁAWY” was visited by a delegation of European Commission and EU member countries representatives. The meeting was organized to provide an opportunity to discuss changes in EU legislation on mineral fertilizers. During the visit, our guests were invited to take a look at the complete manufacturing process in Our Works.

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Situation on Polish fertilizers market

| Polish Market |

The harvest which started in July 2013 was very smooth thanks to favorable weather conditions. At the same time, the time was a “dead season” for fertilizer application. Warehouses and outlets commenced preparation for autumn season of fertilizing farmland. Low purchase prices of canola and cereals in August did not improve the outlook for the producers of farm supply goods, including the manufacturers of fertilizers.

Changes on the market of nitrogen based fertilizers

Prices on the domestic market of nitrogen fertilizers fell in Q3 2013. The downward trend in retail pricing of this product continued till September 2013, when the drop exceeded 10%. Prices of nitrogen based fertilizers were much lower in July-September 2013 than in the same period of 2012.

Market expected to rebound

By the end of 2013, retail prices of fertilizers are to rise slightly, seeing that the prices of cereals are on the increase. Many farmers decided not to sell cereal and canola immediately after the harvest, due to low purchase prices. However, since September 2013 prices of cereals have been rising, which is likely to encourage farmers to open up domestic granaries. Fuller pockets of particular farmers ought to bring about increased demand for fertilizers.

Articles prepares by Strategy and Development Team of Grupa Azoty “PUŁAWY”, headed by Andrzej Górecki.

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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.

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“PUŁAWY” bets on fertilizers

| Products |

Grupa Azoty “PUŁAWY” is currently focusing on intensive development of Agro (agricultural) Segment. Over the past 5 years, the Company has spent 1.2 billion PLN to this end.

Infrastructure first

New facilities were opened on July 8th. The first one is an exhaust desulfurization installation, the first such in Europe and third one in the world. By reducing CO2 emissions, “PUŁAWY” will help to protect the environment and will be able to recycle the sulfur obtained in the process. The element will be used in New Fertilizer Complex, the first stage of the construction of new solid fertilizers complex based on sulfur and other elements. The Complex is scheduled for completion at the end of 2014. Another project in progress is the construction of ammonia stockage with 15,000 tonnes capacity.

Next come new products

Owing to investments in sustainable development, “PUŁAWY” is capable of effective competition on fertilizer market. One tool is boosting efficiency of production, another is diversification of its product portfolio, in response to demand indicated by farmers. PULASKA is a good example, being a fertilizer manufactured based on ammonium sulfate (from exhaust desulfurization installation) and urea. The Company is also developing ammonium nitrate-based fertilizers. Pursuing such areas of activity, “PUŁAWY” both strengthens its Agro Segment and points at new directions of development of the fertilizer industry.

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The future of fertilizers market

| Foreign Markets |

The key to success in the fertilizers business is vigilant monitoring of local and global market trends. We have recently heard some information from various parts of the world that are bound to have a major influence on the prices of fertilizes in 2013/2014 season.

On the one hand, news from the Far East will certainly shape the situation in the business. It has been announced that exports of urea manufactured in China reached 7.2 million tonnes in the period from July 2012 to February 2013. In the previous “export window”, this figure reached only 3 million tonnes. This factor ought to be taken into consideration, especially that the next export window will be closed this summer. Another important element of the pricing situation is the lowering of Chinese exports duties, which will fall to 2% as of June 1st 2013. This rate will be in place until November 1st 2013, when the duties will rise to 77%.

The second key factor is the news about increasing output capacities in Algeria, Egypt and Russia. Those markets function in close proximity to EU, which means that developments in such countries always have an impact on the open European market.

The future of fertilizers market/fot. photopin.comCurrent situation in Ukraine is the third issue worth looking into. Wheat harvest is expected to reach a record high in 2013. US Department of Agriculture forecasts the Ukrainian wheat crops to reach 22.6 million tonnes, which is considerably more than 15.8 million tonnes in 2012. The harvest might be the highest in 20 years! What is more, there were no major losses after winter season, and the acreage of sowing increased by 20%. Undoubtedly, this will fuel growth of wheat exports. UkrAgroConsult, a company specializing in analysis of the Ukrainian market, forecasts a harvest of 20.23 million tonnes, whereas ProAgro – 19.89 million tonnes.

Consequently, we should also look into the sweetcorn production capacity in Ukraine. The Ukrainian manufacturers of corn have recently invested in premium imported seeds, which are a hybrid quality. Such positive news from our Easter neighbor will surely help Ukraine’s position on the international agricultural market, especially when it comes to the exportation of sweetcorn.

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A good year for fertilizers

| Production & Resources |

Pulawy Company is currently expecting to achieve equally high quantity of sales of nitrate fertilizers as in the previous year, which is very good news indeed.

Such forecast is likely to prove correct, seeing that the fertilizers market has been looking stable for quite a long period of time now. At the moment the prices are rising, as usual at this time of the year. Such trend will continue till May, when a slight upward correction is expected.
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The financial year in “PUŁAWY”, now counted from season to season as in 2011/2012, is planned to be counted from January to December, as in calendar years. The change is necessary to make the accounting procedures uniform in the whole Azoty Group and will probably become effective as of 2015.

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New Blog of Pulawy’s Company starts… now

| About Us |

Few people are aware that the Pulawy’s Company employs nearly 3,500 people! We are one of the largest chemical companies in Poland. For many years the plant in Pulawy developed a high position on the European and World markets. It encouraged us to become even more present on the Internet.

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