Favourable environment

The Grupa Azoty Group effectively took advantage of the opportunities that came its way in this past quarter. The key drivers of growth in sales of nitrogen fertilizers were the short and mild winter, as well as the implementation of a work system for the Group’s Field Sales Representatives, which increased demand for this product category in Poland and the European Union. Also, the unstable political situation caused a decline in fertilizer imports from Russia and Ukraine into the EU, which further intensified demand for the Group’s products.

Benefits of consolidation

Consistent measures designed to further the consolidation process continue to be implemented across the Group. Certain mechanisms that have been developed for Group-wide application, including uniform sales policy in the fertilizers segment and uniform arrangements for the purchases of electricity, strategic raw materials and packaging, enable the Group to exploit valuable synergies. The value of these synergies totalled PLN 46.5m in the past quarter and PLN 136.5m in the financial year to date.

Strong contribution from Puławy

Grupa Azoty Puławy is undoubtedly a vital part of the Grupa Azoty Group. In the previous quarter, it booked revenue of PLN 98m, a solid result achieved thanks to the effective and efficient management of the entire Grupa Azoty Puławy Group comprising GZNF Fosfory, Agrochem Puławy, Agrochem Dobre Miasto, Zakłady Azotowe Chorzów and other companies. With its revenue representing over 80% of the Group’s revenue, Grupa Azoty Puławy leads this list. The past quarter has been the most rewarding period for the Company so far in the financial year 2013/2014.