EBITDA also improved by nearly PLN 100m year on year, to PLN 822m in 2014.

“Revenue by key businesses increased substantially in the Chemicals segment, which was attributable to the low base effect resulting from only partial recognition of Siarkopol's revenue in 2013 (it began to be consolidated in Q4). Revenue in the key Fertilizers and Plastics segments remained broadly flat on the previous year. By geographies, we reported a 3% increase in the share of exports in total revenue. While this translated into increased selling and distribution expenses, it also allowed us to deliver relatively higher margins, particularly on USD-denominated transactions in Q4,” said Andrzej Skolmowski, Vice-President of the Grupa Azoty Management Board.

Read more:

• Consolidated Annual Report for 2014