Grupa Azoty’s financial results for Q2 and H1 2024 align with the preliminary results published on August 26, 2024. In H1 2024, the Group achieved consolidated sales revenues of PLN 6.743 billion, with an EBITDA of minus PLN 179 million and an EBITDA margin of minus 2.7%, marking an improvement of nearly PLN 830 million compared to the same period in 2023. The net loss for H1 2024, at PLN 748 million, was reduced by more than PLN 300 million compared to the PLN 1.098 billion loss reported in H1 2023.

Grupa Azoty has expanded its portfolio with a new version of RSM®, a popular urea-ammonium nitrate solution, now enhanced with copper, boron, and molybdenum. Importantly, the light blue color of the new RSM® OPTIMA will help farmers easily identify the product’s country of origin, as Grupa Azoty will be the only producer offering RSM® in this color. This measure addresses the challenge of fertilizer imports, which are often of questionable quality; for example, the practice of diluting fertilizer with water results in products that fail to maintain the specified concentration.

Hyundai Engineering Co., Ltd., the General Contractor for the Polimery Police project, has submitted two proposed amendments to the EPC contract. Notably, Grupa Azoty Polyolefins is currently negotiating with the General Contractor regarding the final settlement of the Polimery Police project, aiming to reach an agreement on mutual claims. As part of these negotiations, Grupa Azoty Polyolefins informed the General Contractor of its position and evaluation concerning the previous amendment proposals submitted in 2023 and February 2024. Based on the documents and information provided, Grupa Azoty Polyolefins has largely found no grounds to accommodate the contractor’s claims from 2023 and February 2024.

Chemik Police Volleyball Club, in which Grupa Azoty Capital Group indirectly holds 100% of the shares, has filed a criminal complaint against its former president. The complaint alleges that the former president, responsible for managing the club's assets, abused his authority and failed to fulfill his duties, resulting in significant financial damage estimated at PLN 227,000. The alleged crime falls under Article 296 of the Polish Penal Code.

Grupa Azoty Polyolefins has extended the terms of the Stabilization Agreement, originally dated December 15, 2023, and later amended, concerning the financing of the Polimery Police project. The agreed-upon financing conditions provided by financial institutions will now remain in effect until September 30 of this year. 

The management boards of Grupa Azoty S.A., Grupa Azoty Police, and Grupa Azoty Kędzierzyn have signed agreements with Trade Union Organizations to suspend selected cost-intensive provisions of their Collective Bargaining Agreements (ZUZP). This marks another step in the cost restructuring process that has been underway since spring this year, in response to the financial difficulties Grupa Azoty has faced since the second half of 2022.