Grupa Azoty (ATT) Q4 2025 earnings summary

Executive summary

• Achieved second consecutive year of positive EBITDA, reaching PLN 323 million in 2025, an improvement of over PLN 650 million from 2024, driven by cost and revenue management.

• Major restructuring and transformation efforts have stabilized financial footing and improved cash generation.

• Signed a historic agreement with Orlen for the sale of Grupa Azoty Polyolefins, significantly reducing debt and risk exposure.

• Focused on core business segments, especially agro, with growing export sales and improved competitiveness.

Financial highlights

• Consolidated EBITDA for 2025 was PLN 323 million, up from a negative PLN 330 million EBIT in 2024 and a catastrophic minus PLN 1.6 billion EBIT in 2023.

• Revenues remained stable at over PLN 13 billion from 2023 to 2025, but EBITDA improved by nearly PLN 1.7 billion over this period.

• Net result remains negative at minus PLN 5.2 billion due to significant write-offs related to past investments.

Outlook and guidance

• Expectation of further improvement in 2026, especially in agro, chemicals, and plastics segments.

• Ongoing transformation and restructuring programs are anticipated to yield long-term benefits and dynamic growth.

• Anticipate better performance from international assets and synergies across the group.