Grupa Azoty Pulawy stock reports H1 loss as revenue falls
Published on 09/23/2026 at 19:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Grupa Azoty Pulawy stock stood at PLN 44.20 on September 23, 2026, while its market capitalization was PLN 844.883 million. The company reported a PLN 54 million net loss for the first half of 2026 as revenue declined year over year.
Revenue falls while loss narrows
According to Dziennik Wschodni, Pulawy generated PLN 1.973 billion in revenue in H1 2026, compared with PLN 2.062 billion in H1 2025. That represents a 4.32 percent decline, while the net loss narrowed from PLN 209 million to PLN 54 million.
The improvement was also visible in the second quarter. Revenue fell from PLN 962 million in Q2 2025 to PLN 837 million in Q2 2026, a 12.99 percent decline, but the net loss narrowed from PLN 121 million to PLN 82 million, a 32.23 percent improvement.
Fertilizer demand sets the tone
The same report linked the weaker sales to lower fertilizer volumes, planned maintenance shutdowns and a change in product mix. Fertilizer sales fell 47 percent year over year in the April to June period, while higher product prices and higher natural gas costs shaped the quarter.
Melamine production remained suspended, and caprolactam production did not restart because demand and supply conditions stayed unfavorable, according to Dziennik Wschodni. Those suspended operations remain an important constraint on the earnings profile.
Parent group shows operating recovery
The broader group delivered a stronger operating comparison. In its Q2 2026 update dated September 2, 2026, Grupa Azoty reported preliminary consolidated revenue of PLN 3.373 billion and EBITDA of PLN 294 million, up PLN 365 million from the comparable quarter.
For Pulawy, the key distinction is clear: the net loss improved materially, but revenue and fertilizer volumes still declined. Investors therefore have two competing signals in the September 2026 figures, with cost and production discipline improving faster than demand.
Stock stays at PLN 44.20
Grupa Azoty Pulawy stock stood at PLN 44.20 on the Warsaw Stock Exchange on September 23, 2026, down 1.78 percent from the previous session. The 2026 H1 figures make the narrowing loss measurable, but the 4.32 percent revenue decline keeps the recovery incomplete.
Grupa Azoty Pulawy stock data
- Company: Grupa Azoty Zaklady Azotowe Pulawy S.A.
- Ticker: ZAP.WA
- Trading venue: Warsaw Stock Exchange
- Price as of September 23, 2026: PLN 44.20
- Market capitalization: PLN 844.883 million as of September 23, 2026
- 52-week range: PLN 42.10-PLN 55.00
- Sector / Industry: Materials / Chemicals
