Grupa Azoty S.A.

Earnings Release • Apr 19, 2018

Financial highlights − separate data

	(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	Dec 31	Dec 31	Dec 31
	2017	2016	2017	2016
Revenue	1 681 525	1 552 332	396 147	354 762
Operating profit	144 341	(55 429)	34 005	(12 667)
Profit before tax	337 846	190 530	79 592	43 543
Net profit Total profit or loss and other	354 793	193 926	83 585	44 319
comprehensive income	375 860	186 841	88 548	42 700
Number of shares	99 195 484	99 195 484	99 195 484	99 195 484
Earnings per
ordinary share (PLN)	3,58	1,95	0,84	0,45
Net cash from operating
activities	207 251	40 559	48 826	9 269
Net cash from investing activities	(36 505)	(212 108)	(8 600)	(48 474)
Net cash from financing activities	78 778	385 638	18 559	88 132
Total net cash flows	249 524	214 089	58 785	48 927
Cash at beginning of period	326 031	111 942	76 809	25 583
Cash at end of period	572 711	326 031	134 924	74 509
	as at Dec 31 2017	as at Dec 31 2016	as at Dec 31 2017	as at Dec 31 2016
Non-current assets	5 770 410	5 625 865	1 383 493	1 271 669
Current assets	1 100 723	792 736	263 905	179 190
Non-current liabilities	1 484 324	1 310 891	355 876	296 314
Current liabilities	624 553	642 950	149 741	145 332
Equity	4 762 256	4 464 760	1 141 781	1 009 213
Share capital	495 977	495 977	118 914	112 111

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 December 29th 2017 was EUR 1 = PLN 4.1709 (table No. 251/A/NBP/2017);

The exchange rate as at December 30th 2016 was EUR 1 = PLN 4.4240 (table No. 252/A/NBP/2016);

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 rates announced by the National Bank of Poland for the last day of each month in the reporting period:

In the period January 1st – December 31st 2017, the average exchange rate was EUR 1 = PLN 4.2447;

In the period January 1st – December 31st 2016, the average exchange rate was EUR 1 = PLN 4.3757.

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