Grupa Azoty S.A.

Earnings Release • Apr 8, 2020

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−
	Dec 31 2019	Dec 31 2018	Dec 31 2019	Dec 31 2018
Revenue	1 987 039	1 825 771	461 913	427 892
Operating profit	89 227	47 761	20 742	11 193
Profit before tax	105 648	183 305	24 559	42 960
Net profit	58 249	171 064	13 541	40 091
Comprehensive income for the year	52 442	154 433	12 191	36 193
Number of shares	99 195 484	99 195 484	99 195 484	99 195 484
Earnings per
ordinary share (PLN)	0,59	1,72	0,14	0,40
Net cash from operating activities	578 955	216 413	134 586	50 719
Net cash from investing activities	(483 695)	(1 189 524)	(112 441)	(278 779)
Net cash from financing activities	61 922	1 398 439	14 395	327 741
Total net cash flows	157 182	425 328	36 539	99 681
Cash and cash equivalents at
beginning of period Cash and cash equivalents at end	1 000 980	572 711	232 691	134 222
of period	1 158 379	1 000 980	269 280	234 592
	as at	as at	as at	as at
	Dec 31 2019	Dec 31 2018	Dec 31 2019	Dec 31 2018
Non-current assets	7 490 721	7 034 158	1 759 005	1 635 851
Current assets	1 749 672	1 569 487	410 866	364 997
Non-current liabilities	2 615 741	2 457 929	614 240	571 611
Current liabilities	1 784 022	1 357 528	418 932	315 704
Equity	4 840 630	4 788 188	1 136 698	1 113 532
Share capital	495 977	495 977	116 468	115 343

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 appropriate 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 December 31st 2019 of EUR 1 = PLN 4.2585 (table No. 251/A/NBP/2019),
• the exchange rate as at December 31st 2018 of EUR 1 = PLN 4.3000 (table No. 252/A/NBP/2018); items of the statement of profit or loss and other comprehensive income and statement of cash flows were translated using the arithmetic mean of the EUR/PLN exchange 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–December 31st 2019, the average exchange rate of EUR 1 = PLN 4.3018,

in the period January 1st–December 31st 2018, the average exchange rate of EUR 1 = PLN 4.2669.

The amounts were translated using the exchange rates specified above by dividing the amounts expressed in PLN'000 by the respective exchange rate.