Grupa Azoty Integrated Report
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TY TED 5 A AZO GRA 201 GRUP INTE REPORT OUR GROUP OUR BUSINESS OUR RESPONSIBILITY OUR FINANCES OUR REPORT RAPORT ZINTEGROWANY GRUPY AZOTY ZA ROK 2015 om c . y t o grupaaz TABLE OF CONTENTS OUR GROUP OUR BUSINESS OUR RESPONSIBILITY OUR FINANCES OUR REPORT Letter of the Management Board . 2 1.0 OUR GROUP . 7 2.0 OUR BUSINESS . 41 3.0 OUR RESPONSIBILITY. 73 4.0 OUR FINANCES . 117 5.0 OUR REPORT . 129 Grupa Azoty in key figures . 4 1.1. About the Grupa Azoty Group . 9 2.1. Our products . 43 3.1. Our employees . 75 4.1. Basis of preparation 5.1. About the report . 131 of the summary 1.1.1 The structure 2.2.1. Our main products . 43 3.1.1. Who forms 5.2.Index GRI . 133 financial statements . 119 of the Grupa Azoty Group . 9 2.2. Our production. 52 the Grupa Azoty Group? . 75 5.3. Independent confirming 4.2.Consolidated statement report . 138 1.1.2. Our strategy . 12 2.2.1. Raw materials used 3.1.2. Developing the potential of profit or loss and other of our employees . 81 1.1.3. Our key investments . 13 for manufacturing comprehensive income. 120 of our products . 52 3.1.3. Conducting dialogue 1.1.4. Results of the Azoty PRO 4.3.Consolidated statement with employees . 84 Program . 18 2.2.2. Supply chain management. 55 of financial position . 122 3.1.4. Preventing discrimination . 87 1.1.5. The place for responsible 2.2.3. Development of our products. 57 4.4.Consolidated statement of cash flows. 124 business in our operations . 20 2.2.4. Ensuring safety 3.1.5. Services and benefits 1.2. Strategic management system . 23 of our products . 61 available for our employees . 87 4.5.Financial results of the operating segments. 126 1.2.1. Management structure 2.3. Our customers . 68 3.1.6. Safety management at the workplace . 89 4.6. Independent of the Grupa Azoty Group . 23 2.3.1. Conducting dialogue 3.2.Our impact on the local Auditors' Report . 128 1.2.2. Strategic management system with our customers . 68 community . 92 of the Grupa Azoty Group . 27 2.3.2. Our marketing activities . 70 3.2.1. Our impact 1.2.3. Monitoring of management on the development systems in the Grupa Azoty of the local community . 92 Group . 29 3.2.2. How do we support youth 1.2.4. Risk management. 30 education? . 95 1.2.5. Ethical values followed within 3.2.3. What sports activity are the Grupa Azoty Group . 33 we engaged in? . 98 1.3. Capital market . 34 3.3. Our impact on the natural 1.3.1. Shareholders' structure environment . 100 of Grupa Azoty . 34 3.3.1. What is our impact 1.3.2. Information policy on the natural environment?. 100 of Grupa Azoty . 35 1.3.3. Dividend policy of Grupa Azoty . 37 1.4. Communication with the environment . 38 1.4.1. Communication with our stakeholders. 38 1.4.2. Initiatives we engage in . 39 1 OUR GROUP OUR GROUP 1 TABLE OF CONTENTS OUR GROUP OUR BUSINESS OUR RESPONSIBILITY OUR FINANCES OUR REPORT Letter of the Management Board . 2 1.0 OUR GROUP . 7 2.0 OUR BUSINESS . 41 3.0 OUR RESPONSIBILITY. 73 4.0 OUR FINANCES . 117 5.0 OUR REPORT . 129 Grupa Azoty in key figures . 4 1.1. About the Grupa Azoty Group . 9 2.1. Our products . 43 3.1. Our employees . 75 4.1. Basis of preparation 5.1. About the report . 131 of the summary 1.1.1 The structure 2.2.1. Our main products . 43 3.1.1. Who forms 5.2.Index GRI . 133 financial statements . 119 of the Grupa Azoty Group . 9 2.2. Our production. 52 the Grupa Azoty Group? . 75 5.3. Independent confirming 4.2.Consolidated statement report . 138 1.1.2. Our strategy . 12 2.2.1. Raw materials used 3.1.2. Developing the potential of profit or loss and other of our employees . 81 1.1.3. Our key investments . 13 for manufacturing comprehensive income. 120 of our products . 52 3.1.3. Conducting dialogue 1.1.4. Results of the Azoty PRO 4.3.Consolidated statement with employees . 84 Program . 18 2.2.2. Supply chain management. 55 of financial position . 122 3.1.4. Preventing discrimination . 87 1.1.5. The place for responsible 2.2.3. Development of our products. 57 4.4.Consolidated statement of cash flows. 124 business in our operations . 20 2.2.4. Ensuring safety 3.1.5. Services and benefits 1.2. Strategic management system . 23 of our products . 61 available for our employees . 87 4.5.Financial results of the operating segments. 126 1.2.1. Management structure 2.3. Our customers . 68 3.1.6. Safety management at the workplace . 89 4.6. Independent of the Grupa Azoty Group . 23 2.3.1. Conducting dialogue 3.2.Our impact on the local Auditors' Report . 128 1.2.2. Strategic management system with our customers . 68 community . 92 of the Grupa Azoty Group . 27 2.3.2. Our marketing activities . 70 3.2.1. Our impact 1.2.3. Monitoring of management on the development systems in the Grupa Azoty of the local community . 92 Group . 29 3.2.2. How do we support youth 1.2.4. Risk management. 30 education? . 95 1.2.5. Ethical values followed within 3.2.3. What sports activity are the Grupa Azoty Group . 33 we engaged in? . 98 1.3. Capital market . 34 3.3. Our impact on the natural 1.3.1. Shareholders' structure environment . 100 of Grupa Azoty . 34 3.3.1. What is our impact 1.3.2. Information policy on the natural environment?. 100 of Grupa Azoty . 35 1.3.3. Dividend policy of Grupa Azoty . 37 1.4. Communication with the environment . 38 1.4.1. Communication with our stakeholders. 38 1.4.2. Initiatives we engage in . 39 1 OUR GROUP OUR GROUP 1 Ladies and Gentlemen, We are a new group of companies, we aspire weather conditions that affected crops throughout Europe, and also the to develop our companies in a sustainable continuation of volatility on financial markets forced the world to reflect manner. In 2015, we have started a number of what global players could do to develop in a more sustainable manner. On behalf of the Management Board investments in four crucial companies included of Grupa Azoty, I am presenting in this report. Total investment expenditure At the beginning of 2015, Grupa Azoty made its debut on the World an Integrated Report of Grupa Azoty in the discussed period amounted in Grupa Economic Forum in Davos, discussing a global problem of food and energy Azoty to more than PLN 907 thousand. Right safety. In September, the General Assembly of the United Nations adopted for 2015. For me, it is an honour and now projects implemented in the companies are new, ambitious Sustainable Development Objectives, signed by more than responsibility to manage such strategic worth more than PLN 4 billion, and Grupa Azoty 100 heads of states and prime ministers, and also representatives of Polish company in the chemical industry. will allocate more than PLN 7 billion for 68 religious, business and civil society groups. This is an event which one Therefore, I undertake to continue investment projects by the end of 2020. These cannot ignore. Although these are governments that are directly will be the largest projects of this type in Poland. accountable for the implementation of these objectives, it is exactly the to build the tangible and intangible commitment of business and companies such as ours that will have the value of our Group. Through continuous Ensuring financing for the entire investment greatest importance in achieving real results. In this report, we are improvement, Grupa Azoty is changing program was the biggest challenge of 2015. presenting challenges of sustainable development in the chemical industry In April Grupa Azoty signed a rollover credit with which we identify ourselves. the face of Polish chemistry, contract with a consortium of commercial banks actions that we take make this one due to which it obtained financing for the At the end of 2015, nearly 200 countries of the United Nations Convention of the most innovative branches amount of PLN 1.5 billion. The next stage was on Climate adopted an agreement in Paris that is to stop global warming of industry in Europe. making contracts with the European Bank at the level “substantially below 2 degrees Celsius”. This is the first climate for Reconstruction and Development, contract in the history with such scope the provisions of which Grupa guaranteeing long-term financing for Azoty consistently implements, by investing in modern technologies that Above all, 2015 meant historically the amount of PLN 700 million. Contracts make it possible to reduce the emission of greenhouse gases, e.g. good financial results. Net profit was consolidating debt is an extremely important construction of exhaust gas desulfurization system or exhaust gas nearly PLN 692 million and was higher step in further integration of Grupa Azoty. denitrification system. More information about investments that curb the impact of our operations on the environment can be found in the chapter than the last year’s one by no less Growth in value and courageous investment Our Responsibility. than PLN 427 million. Sales revenue plans caused an increase in the importance exceeded the level of PLN 10 billion. of Grupa Azoty among international trade Conducting operations in a dynamically evolving environment as well as institutions.