Grupa Azoty S.A.

Quarterly Report • Nov 19, 2020

Financial highlights for Q3 2020

Consolidated financial highlights

	(PLN '000)		(EUR '000)
	for the period	for the period	for the period	for the period
	Jan 1 −	Jan 1−	Jan 1 −	Jan 1−
	Sep 30 2020	Sep 30 2019	Sep 30 2020	Sep 30 2019
Revenue	7 788 663	8 666 404	1 753 414	2 011 420
Operating profit	433 966	591 696	97 696	137 329
Profit before tax	371 817	544 634	83 705	126 406
Net profit	263 085	415 894	59 227	96 526
Comprehensive income for the
period	250 975	410 185	56 500	95 201
Number of shares	99 195 484	99 195 484	99 195 484	99 195 484
Earnings per
ordinary share (PLN)	2,28	3,87	0,51	0,90
Net cash from operating
activities	1 784 234	1 178 270	401 674	273 469
Net cash from investing
activities	(1 700 623)	(1 039 804)	(382 851)	(241 332)
Net cash from financing activities	(291 908)	(445 039)	(65 715)	(103 291)
Total net cash flows	(208 297)	(306 573)	(46 893)	(71 154)
Cash at beginning of period	770 087	846 532	173 365	196 475
Cash at end of period	576 137	551 990	129 702	128 114
	as at Sep 30 2020	as at Dec 31 2019	as at Sep 30 2020	as at Dec 31 2019
Non-current assets	12 521 870	10 705 437	2 766 164	2 513 899
Current assets	3 954 088	4 773 254	873 484	1 120 877
Non-current liabilities	4 756 788	4 288 382	1 050 806	1 007 017
Current liabilities	3 572 026	3 496 362	789 084	821 031
Equity	8 147 144	7 693 947	1 799 758	1 806 727
Share capital	495 977	495 977	109 565	116 468
Non-controlling interests	899 194	657 573	198 638	154 414

Separate financial highlights

	(PLN '000)		(EUR '000)
	for the period	for the period	for the period	for the period
	Jan 1 −	Jan 1−	Jan 1 −	Jan 1−
	Sep 30 2020	Sep 30 2019	Sep 30 2020	Sep 30 2019
Revenue	1 207 548	1 511 188	271 848	350 738
Operating profit	28 274	93 002	6 365	21 585
Profit before tax	130 465	142 259	29 371	33 017
Net profit	116 798	120 573	26 294	27 984
Comprehensive income for the period	73 213	100 654	16 482	23 361
Number of shares	99 195 484	99 195 484	99 195 484	99 195 484
Earnings per
ordinary share (PLN)	1,18	1,22	0,27	0,28
Net cash from operating
activities	349 576	305 128	78 698	70 818
Net cash from investing
activities	(731 105)	(131 305)	(164 589)	(30 475)
Net cash from financing
activities	268 163	(70 776)	60 370	(16 427)
Total net cash flows	(113 366)	103 047	(25 521)	23 917
Cash at beginning of period	1 158 379	1 000 980	260 779	232 321
Cash at end of period	1 046 703	1 113 676	235 638	258 477
	as at	as at	as at	as at
	Sep 30 2020	Dec 31 2019	Sep 30 2020	Dec 31 2019
Non-current assets	8 277 640	7 490 721	1 828 585	1 759 005
Current assets	1 601 649	1 749 672	353 815	410 866
Non-current liabilities	3 080 208	2 615 741	680 438	614 240
Current liabilities	1 885 238	1 784 022	416 462	418 932
Equity	4 913 843	4 840 630	1 085 500	1 136 698
Share capital	495 977	495 977	109 565	116 468

Selected items of the statement of profit or loss and other comprehensive income, statement of financial position and statement of cash flows were translated into the euro using the generally applicable method described below:

• Items of assets and equity and liabilities in the statement of financial position were translated at the exchange rate effective for the last day of the reporting period: the exchange rate as at June 30th 2020 was EUR 1 = PLN 4.5268 (table No. 191/A/NBP/2020),
• the exchange rate as at December 31st 2019 was EUR 1 = PLN 4.2585 (table No. 251/A/NBP/2019),
• Items of the statement of profit or loss and other comprehensive income and statement of cash flows were translated using the arithmetic average of the EUR/PLN rates quoted by the National Bank of Poland as effective for the last day of each month in the reporting period:

in the period January 1st–September 30th 2019, the average exchange rate was EUR 1 = PLN 4.3086.

The translation was made using the exchange rates specified above by dividing amounts expressed in thousands of the złoty by the exchange rate.

in the period January 1st–September 30th 2020, the average exchange rate was EUR 1 = PLN 4.4420;