Letter from the President of the Management Board
Ladies and Gentlemen,
2018 was a breakthrough year for the Grupa Azoty Group.
Ladies and Gentlemen,
2018 was a breakthrough year for the Grupa Azoty Group. I can safely say that we have managed to achieve something we have all been waiting for many years – we are no longer perceived as individual companies, but as a single integrated Group. Thanks to the resulting synergies, strength and combined potentials, we are better positioned to compete on the challenging market. An emblem of this change is the consolidation of sales across the Group. Work on this pivotal and challenging project had actually continued since the Group’s inception. I am truly glad that we brought it to successful completion. Consolidation of purchasing activities, optimisation of logistics as well as production and maintenance synergies led to more than PLN 700m in savings.
We are Poland’s largest chemical producer, our products are used in virtually all branches of the economy. We were recognised as the TOP BRAND 2018. We are constantly growing our business by opening new research and development centres, upgrading the infrastructure, continuously improving our products and seeking new markets. If market conditions are favourable, we embark on foreign acquisitions. An example in point may be the transaction carried out in 2018 whereby we acquired a German manufacturer of specialty fertilizers COMPO EXPERT, which brought measurable benefits for the Polish economy. The deal helped the Group to consolidate its position among leading global providers of farming solutions.
Each year, we allocate billions of złoty to investment projects. Our debt level in 2018 resulted from the need to finance the acquisition of COMPO EXPERT, completed on November 26th 2018.
We have developed a reliable model for integrated management of social, environmental and economic performance. For years now, our shares have been a constituent of the FTSE4GOOD Global Index and we have been listed in the Polish Responsible Companies Ranking. We also submit to assessment for the MSCI rating. We promote the production of safe, high-quality and economically viable food, in combination with measures to protect the environment and foster prosperity of local communities. In 2018, we were awarded a distinction in the ‘Most Attractive Employer Poland 2018’ ranking.
The Grupa Azoty Group operates on a highly competitive market, not only in Poland but almost in every part of the world. Nonetheless, I am deeply convinced that we will be able to maintain a strong footing in each area of our business, while winning new markets and customers.
Wojciech Wardacki, President of the Management Board
- TOP BRAND 2018
- Second position in the survey of best investor relations in 2017, organised by the Parkiet daily and the Polish Chamber of Brokerage Houses
- Grupa Azoty Police and Grupa Azoty awarded the ‘Transparent Company of the Year 2017’ title
- The ‘Ambassador of Polish Chemical Industry’ title received during the 5th Polish Chemical Industry Congress
- Grupa Azoty included in the Respect and FTSE4GOOD indices
- Grupa Azoty as the main partner of the UN Day 2018 gala event organised by Global Compact Network Poland
- The ‘Key to Success’ statuette for Witold Szczypiński, the Grupa Azoty CEO; the award distinguishes people who have played a particularly important role in the development of the chemical industry
- Two ‘Golden Rose’ awards from by the TEMI weekly of Tarnów
- Medal for the “development of an innovative technology for modified Tarnamid” at the 22nd International Fair of Plastics and Rubber Processing PLASTPOL
- Distinction from the Gazeta Polska weekly for Grupa Azoty in the category ‘Innovative Company of the 100th Anniversary of Poland’s Regaining Independence’
Community involvement and contribution to the Group’s environment
- The ‘Patron of Sports’ distinction awarded to Grupa Azoty Police by the West Pomeranian Football Association
- Medal of ‘Merit in the Service of Kraków University of Technology’ for Grupa Azoty in recognition its “outstanding contribution to the development of the university”
- The Polish Radio’s Business Award for Grupa Azoty in the ‘Philanthropist’ category
Labour practices and decent work
- Distinction for Grupa Azoty in the ‘Most Attractive Employer Poland 2018’ ranking