Profil:
Polimex Mostostal SAAzoty Pulawy reverses PLN 247 mln asset impairment boosting 2024 net profit by PLN 200mln
Listed chemicals group Azoty's unit, Azoty Pulawy, will reverse a PLN 247 million (EUR 57.7 mln) impairment charge on fixed assets tied to its CGU Agro unit, increasing its 2024 net profit by PLN 200 million (EUR 46.8 mln), the company said in a market filing. The reversal, classified as non-cash, leaves EBITDA unaffected in standalone and consolidated reports.
Grupa Azoty confirmed the move will add PLN 210 million (EUR 49.1 mln) to the parent company’s consolidated net profit.
Concurrently, Pulawy adjusted deferred tax assets linked to its Special Economic Zone (SSE) tax relief, reducing its 2024 net profit by PLN 52 million (EUR 12.2 mln) due to limited relief utilization through 2026.
This adjustment also lowers Grupa Azoty’s consolidated net profit by PLN 52 million (EUR 12.2 mln), while EBITDA remains unchanged.
Grupa Azoty Pulawy and its parent will publish annual reports on April 24.
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