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Grupa Azoty Group Updated Strategy for 2013−2020

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Grupa Azoty Group Updated Strategy for 2013−2020 Updated Strategy for 2013−2020 Grupa Azoty Group Updated Strategy for 2013−2020 grupaazoty.com 1 Updated Strategy for 2013−2020 Grupa Azoty today We are the leading producer of fertilizers and chemicals in Poland and Europe. Our Group comprises four key production companies, based in Tarnów, Puławy, Police and Kędzierzyn-Koźle, and around a dozen subsidiaries. We operate our own logistics infrastructure as well as research, design and maintenance facilities. Urea, NPK, NP, NS, Ammonia, Titanium White Mocznik, NPK, NP, NS, amoniak, biel tytanowa PA-6 PA-6 AN, CAN, Urea, OXO, Plasticizers AN, CAN, mocznik, OXO, plastyfikatory NPK, N, P, K NPK, N, P, K AN, CAN, ASN, AS, Caprolactam, PA-6, POM, AN, CAN, ASN, AS, kaprolaktam, PA-6, POM, compounds compoundy Sulfur siarka AN, AS, UAN, Urea, Melamine, Caprolactam AN, AS, RSM, mocznik, melamina, kaprolaktam PLN 10,024m 10 024 mln PLN 2015 revenue Przychody w 2015 r. PLN 1,314m 1 314 mln PLN 2015 EBITDA EBITDA w 2015 r. 13,968 13 968 pracowników 2015 headcount Zatrudnienie w 2015 r. 2 Updated Strategy for 2013−2020 BROAD PRODUCT PORTFOLIO LEADER AT HOME TOP EU PRODUCER Grupa Azoty’s core business lines: Grupa Azoty is Poland’s largest We are the first CEE company chemical producer featured in the ICIS Top 40 Power Players 2015, which lists 40 most influential senior executives on the global chemical market - Agro Fertilizers TOP 1 in nitrogen, nitrogen and We stand among the top European sulfur, nitrogen and phosphorus, and chemical producers: compound fertilizers* - Plastics TOP 1 in polyamides TOP 2 in nitrogen fertilizers - OXO, TOP 1 in OXO alcohols and TOP 3 in melamine plasticizers - Titanium white TOP 1 in titanium white and TOP 3 in compound fertilizers melamine - Melamine - Speciality fine chemicals Our products find practical applications in virtually all branches of the economy * All compound fertilizers (AP, NPK, PK) 3 Updated Strategy for 2013−2020 Our mission and vision Our mission Stimulant for growth of the Polish chemical and related industries Create value for the Group and Base for extending the product chain in Poland’s chemical national economy by delivering safe, industry useful and innovation-driven chemical products Our vision Opportunity to reduce Poland’s trade deficit in chemicals Deploy state-of-the-art, Leader in research, development and innovation for the comprehensive chemical industry chemical and related industries in Poland solutions that meet stakeholder expectations Platform for cooperation with state-controlled companies 4 Updated Strategy for 2013−2020 Strategic growth directions Changes in economic conditions and in our immediate environment have necessitated a revision to our previous strategic objectives to better align them to current market landscape. In the years to 2020, Grupa Azoty will pursue growth in four areas representing major challenges for Poland’s top chemical producer. 1. 2. 3. 4. Complete the Group Reinforce leadership Strengthen the second Develop and consolidation process in agricultural operating pillar by implement solutions in Europe expanding innovations to drive non-fertilizer business growth of the chemical industry ■ Complete the Group consolidation process Launched in 2013, the Grupa Azoty Group consolidation process still offers potential for further gains. In order to ensure more effective management of the Group, a system of management by business segments will be implemented. Until 2020, Grupa Azoty will continue to integrate its processes and consolidate its sales/marketing, procurement, logistics, finance, IT and other functions. ■ Reinforce leadership in agricultural solutions in Europe To preserve its strong position on the fertilizer markets at home and in the region, Grupa Azoty will seek to increase control of retail distribution channels and look for opportunities to grow and improve the efficiency of its production processes. In response to changing expectations of its key customers, Grupa Azoty will modify its product range to better meet the needs of modern farming, also by offering auxiliary services to farmers. ■ Strengthen the second operating pillar by expanding non-fertilizer business In order to diversify its revenue sources and become less dependent on business cycles in agriculture, Grupa Azoty will step up its efforts to expand non-fertilizer business lines, with petrochemicals and plastics as the key areas for growth. ■ Develop and implement innovations to drive growth of the chemical industry With its own unique expertise in agro-products, Grupa Azoty will become an active participant in research, development and innovation projects in Poland, particularly those focused on developing and marketing advanced, profitable, speciality fine chemicals. 5 Updated Strategy for 2013−2020 Product strategy Key development directions for our business lines: ■ Agro Fertilizers Grupa Azoty’s growth strategy for Agro Fertilizes will focus on extending the value chain with speciality products for specific crops and customers, and on enhancing the efficiency of its production processes. Our efforts will mainly focus on tailoring our product portfolio to the needs of large-scale farms, while maintaining a strong position among small farmers. Grupa Azoty will also expand its range of precision farming services. In order to secure a market outlet for its fertilizer products, Grupa Azoty will take steps to increase control of domestic and foreign distribution channels for agro-products. Fertilizer sales processes will be further consolidated in order to simplify and streamline relationships with key customers. We will seek to increasingly use channels allowing us to deal directly with end consumers and grow sales of products complementary to fertilizers. By consolidating its production assets, Grupa Azoty will act on market opportunities as they arise to reinforce its position on the European fertilizer market. ■ Plastics In Plastics, our strategy will focus on extending the value chain with speciality products, expanding into new business fields, and improving operational efficiency. Once brought on stream, a new polyamide unit in Tarnów will allow us to fully balance caprolactam supply with demand for Grupa Azoty’s polyamide production and to focus on polyamides and their derivatives that are further down the value chain and offer stronger market potential. The new plant will produce PA-6 in a full viscosity range, suitable for a broader spectrum of applications. In line with its strategy, Grupa Azoty will avoid direct competition with its customers down the polyamide product chain. In addition, we will seek out opportunities to expand into advanced PA-6-based polymers, polymer additives, and engineering plastics. ■ OXO Grupa Azoty’s strategy for the OXO business will focus on securing access to its own raw materials, extending the value chain with speciality products, and improving operational efficiency. In order to meet its own propylene demand and create opportunities for growth in a new value chain, Grupa Azoty will invest in a project to build a propylene production unit (PDH) in Police, which will offer an option to expand into derivative products. To better align its offering to market expectations and regulatory requirements, non-phthalate, organic and speciality plasticizers will be added to the product portfolio. In addition, Grupa Azoty sees growth opportunities in extending its product chain and processing of aldehydes into speciality products. 6 Updated Strategy for 2013−2020 ■ Titanium White and Melamine Our strategy for Titanium White and Melamine is to improve efficiency of the existing units by implementing upgrades and removing bottlenecks, and to extend the value chain with polymer additives. Key development directions for our support functions: ■ Energy The revised Strategy highlights the need to analyse further centralisation of the Energy segment, the scale of which would depend on potential costs and rewards and on whether energy security can be ensured for each production plant. ■ Logistics The strategy for Logistics covers process consolidation across all production plants based on uniform IT systems enabling process control and centralisation of logistics data to ensure effective management and enhanced performance. In the long term, full process and IT integration will allow us to separate logistics into the Shared Services Centre. In the area of logistics assets management, the Strategy envisages development and implementation of a railway asset management model and increased use of marine assets in Police and Gdańsk. Grupa Azoty also plans to analyse the possibility of using the Odra Waterway and carry out related design work. ■ Asset Management In the area of Asset Management, the overall objective is to maximise efficient use of assets through harmonisation of operational planning and production processes for the business lines at the Group level, and through standardisation of operational performance and cost efficiency reporting. In order to improve the safety of people, the environment and processes, drive down failure rates and improve availability, Grupa Azoty will seek to optimise the management of its fixed assets. ■ IT To achieve cost and process synergies and better align its IT support functions with key business processes, Grupa Azoty will continue to streamline its IT environment. To that end, it will develop a target IT model and an IT transformation plan to incorporate planned changes. Raw materials strategy Raw materials and energy account for over 60% of our
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