Grupa Azoty’s second-quarter 2022 results were strongly impacted by the turmoil caused by Russia’s invasion of Ukraine, which adversely affected the availability and prices of feedstocks, pushing up prices of final products across all business segments. As a result of lower exports, the volumes of fertilizer supplied by Grupa Azoty to the domestic market were significantly larger compared with the same period last year.

Despite temporary production cuts at three of the Grupa Azoty Group’s companies, the Group continues to provide supplies of CO2 to its existing customers. The reduction in fertilizer production was planned so as to ensure the availability of sensitive products, including liquid CO2, dry ice and ammonia water, which is necessary for the operation of the commercial power industry.

Due to record prices for gas, the main production feedstock of Grupa Azoty Puławy, the Puławy-based company of the Grupa Azoty Group has decided to temporarily scale down production at further units. As a consequence of Russia’s aggression against Ukraine, since February 24th 2022 natural gas prices on the European exchanges have been soaring to extraordinary, historically high levels. Gas prices over the past six months have nearly quadrupled, having surged from EUR 72/MWh on February 22nd 2022 to EUR 276/MWh on August 22nd 2022.

Rising gas prices and analysis of achievable sales prices for the product are the key reasons for a temporary reduction in melamine production at Grupa Azoty Puławy.

In the fifth edition of the ‘We care for the Polish land’ customer lottery run by Grupa Azoty, the grand prize, a John Deere 5075E tractor, went to Eugeniusz from Gostyń County in the province of Poznań. This year’s lottery saw nearly 43,000 entries, an increase of more than 261% over 2018 when Grupa Azoty’s lottery was first held.

Polskie Górnictwo Naftowe i Gazownictwo SA and Grupa Azoty SA and its subsidiaries have signed annexes to existing contracts for the sale of gas fuel, extending the term of the contracts until the end of September 2023.