From the perspective of growth- and investment-related objectives, 2012 proved a very busy year for Zakłady Azotowe PUŁAWY S.A. It was also the best financial year in the Company's history, with consolidated revenue of around PLN 4bn and net profit of PLN 600m, which will enable us to pay out the highest ever dividend of PLN 9.40 per share.
The year started with the purchase of 2,550,000 shares in Azotów-Adipol S.A. of Chorzów, which marked a next step in the growth of the Zakłady Azotowe PUŁAWY Group aimed to increase our market and operating potential. Also Zakłady Azotowe PUŁAWY's investments are designed to increase production capacities, but also to provide a competitive edge through more efficient use of raw materials, enhanced flexibility of day-to-day operations and better product customisation. We are constructing new fertiliser units: a liquid fertiliser production facility for PLN 70m and a granulated fertiliser production facility worth over PLN 170m. These projects are being implemented following international research into the fertiliser requirements of soils in our climate zone; the projects will also leverage our increased production capacities of urea and ammonium sulphate, thanks to having implemented a state-of-the-art and unique flue gas desulphurisation technology at the cost of approximately PLN 250m. The construction of the ammonia storage and distribution facility, worth nearly PLN 110m, is in progress; when completed, it will increase not only our operating efficiency, but also the security and stability of our operation.   We invest in maintaining and increasing the efficiency of our production units. We modernised our ammonium nitrate packaging shop, which has not only facilitated our operations, but also improved customer service. In 2012, we also modernised the automatics at the ammonia production unit. We are extending our UAN sales network through the purchase of new tanks. We have entered the field of biotechnology. The starting point was the signing in 2012 of an agreement with the Fertilizer Research Institute for the production and sales of hop extracts and other plant materials. In cooperation with PGE GiEK, we are involved in the construction of a gas-fired 800–900 MWe power plant in Puławy, the project listed among the key power projects in Poland. The Competence Centre, a knowledge and information exchange platform for the fertiliser industry, research institutes and agricultural market players established a little over a year ago, proves that Zakłady Azotowe PUŁAWY's professionalism does not stop at the plant's gate, but goes deep into the market. That philosophy has already brought profit and will be a decisive driver of Zakłady Azotowe PUŁAWY's market position in the future.