In the third quarter, Grupa Azoty generated revenues of PLN 2.89 billion compared to PLN 3.09 billion a year earlier, which means a decrease of approximately 6.5%. At the same time, operating profitability improved significantly: EBITDA increased from PLN -120 million in the third quarter of 2024 to PLN 391 million in the third quarter of 2025. EBITDA after excluding the problematic Grupa Azoty Polyolefins increased from PLN -67 million to PLN 186 million. However, the final result is a minus because the state-owned company recorded PLN 147 million of consolidated net loss attributable to shareholders of the parent company. We can take some consolation from the fact that last year it was worse – a loss of PLN 235.75 million.
Knowing the data for the third quarter, we already have a more complete picture of the company's condition this year. In the first three quarters of 2025, Grupa Azoty had a loss of PLN 950 million. It recorded revenues of PLN 10.04 billion, which means an increase of approximately 2.1%. compared to PLN 9.83 billion in the corresponding period of 2024. EBITDA increased from PLN -299 million to PLN 312 million over nine months. EBITDA after the exclusion of Grupa Azoty Polyolefins improved from PLN -186 million to PLN 346 million.
The rest of the article is below the video
In its commentary on the results, Grupa Azoty emphasizes that: implements a package of stabilizing measuresincluding Orlen's analyzed offer to acquire 100 percent. shares of Grupa Azoty Polyolefins, adoption of the strategy until 2030 with ambitious financial and investment goals and a planned two-stage issue of shares strengthening the equity and development financing base.
See also: Yes, Grupa Azoty wants to get out of trouble. New strategy until 2030
Grupa Azoty with a loss. Comment by President Andrzej Skolmowski
“We recorded improvement in all main segments, which confirms the effectiveness of corrective actions and consistent cost discipline. The result was supported by lower gas and electricity prices, with a still demanding market environment and strong pressure from cheap imports from outside the European Union,” comments Andrzej Skolmowski, president of Grupa Azoty.
President of Grupa Azoty Andrzej Skolmowski
|
Adam Burakowski / East News
He points out that there are in the Agro segment the first effects of increased tariffs on fertilizers from Russia and Belaruswhile in chemicals and plastics, results continue to reflect weaker demand and high product supply. The reported result was significantly influenced by one-off events related to the Polimery Police project.
Results of the Azoty Group. What about Police Polymers?
The result of the plastics segment for the third quarter of 2025 was significantly increased by one-off operations related to the settlement of the EPC contract for the “Polimery Police” investment implemented by Hyundai Engineering. Grupa Azoty Polyolefins recorded PLN 953.3 million in other operating income resulting from debit notes for delays and termination of cooperation and payments from insurance guarantees.
Following the prudence principle, the company created a provision in the amount of PLN 637.4 million, taking into account possible claims of the contractor regarding additional expenditure on the project, and showed the remaining claims as contingent liabilities. The total positive effect of these activities on EBITDA for the period amounted to PLN 315.9 million.
Grupa Azoty is trying to get back on track. What does the stock exchange say?
“After announcing the strategy until 2030, we moved on to the next key stage, which is the issue of new shares. We published information about convening the EGM on February 13, 2026, with the agenda including the management board's request for consent to increase the company's share capital. The issue of shares directed to the State Treasury is an important element of the parallel process of negotiations with financial institutions. This is a key step in the process of repairing the Group's financial and business situation. Azoty,” notes Andrzej Skolmowski.
See also: There is help for Grupa Azoty. It is to produce explosives
How does the stock market react to all this? At the beginning of Tuesday's session on the Warsaw Stock Exchange, Grupa Azoty's share prices are slightly positive.
