Grupa Azoty was to cause property damage as a result of abuse of powers and failure to comply with the purchase of natural gas in the period from September 14, 2022 to March 30, 2023 – according to the notification of the company, addressed to the prosecutor's office. According to the giant, the loss, caused by these activities, amounted to at least PLN 932 million.
The notification of suspected benefit of property damage at at least PLN 932 million was submitted to the Regional Prosecutor's Office in Krakow.
“As notified, The damage was to arise as a result of abuse of powers and failure to comply with dutiesincluding in the field of preparation and implementation of the natural gas purchase strategy in the period from September 14, 2022 to March 30, 2023, “the Azoty Grupa explained. As she added, the decision to buy gas was to be made” without proper documentation and authorization “by authorized entities and “contrary to the group (…) analyzes and forecasts”.
The price would be “nearly a billion lower”
Grupa Azoty reported that the security committee natural gas prices and powers to CO2 emissions in the company bought gas as part of timely contracts for the needs of the group, although its unit price calculated on the basis of transactions carried out each day with delivery on the next day on the European market, “for exactly the same amount of purchased natural gas would be about PLN 1 billion lower “.
“Thus, in accordance with the notification, a number of adverse contracts were theoretically” securing “the prices of natural gas for the own needs of Grupa Azoty SA and subsidiaries grossly adverse conditions, including violating the provisions of acts of the company's internal law,” – emphasized the company. She noted that these decisions were made when “the financial situation of the group began to deteriorate significantly”, i.e. from the fourth quarter of 2022. Purchase on adverse conditions – in the Company's opinion – contributed to further deterioration of this situation.
It was reminded that the net loss of the Azoty Group for 2023 amounted to nearly PLN 3 billion.
Repair activities in the Azoty Group
Repair activities are carried out in the company. Group after the third quarter of last year She recorded an improvement in financial results “after eliminating disposable events, by over 80 % and improving sales results by about 650,000 tons.”
So far, the Azoty Group has submitted 10 notifications to the prosecutor's office about suspected crime. They concerned, among others The Polish National Foundation (property damage was to amount to PLN 45.5 million); sponsorship and advertising contracts (PLN 7.5 million and PLN 5.2 million); research and development works, which – in the opinion of the group – were pointless (PLN 10.7 million) and the circumstances of resignation from investments in Senegal (PLN 180 million).
According to the recommendation of the management board in the Azoty Group, audits are underway in the functioning of companies in recent years. Audits are related to, among others With record levels of losses that the group recorded from the fourth quarter of 2022, the lack of implementation of effective repair activities, implemented investments and concluded contracts.
Grupa Azoty is one of the key capital groups of the fertilizer and chemical industry in Europe. It takes second position in the EU in the production of nitrogen and multi -component fertilizers, it also has a strong position on the markets of such products as: melamine, polyamide, oxo alcohols, plasticizers and titanium white.
Source of the main photo: Azoty Group