Grupa Azoty reports second-quarter earnings rebound for Grupa Azoty stock

First-half revenue was PLN 7.07 billion, down 0.94 percent year over year. Grupa Azoty stock had a PLN 19.90 target versus PLN 19.56 on September 24, 2026.

Grupa Azoty reported a second-quarter earnings rebound, with EBITDA of PLN 294 million and an EBITDA margin of 8.7 percent. The result gives Grupa Azoty stock a sharper operational narrative, although the group still carries a heavy loss burden.

Second-quarter EBITDA turns positive

According to Grupa Azoty, second-quarter 2026 sales revenue reached PLN 3,373 million and EBITDA reached PLN 294 million, up PLN 365 million from the corresponding period of 2025. The EBITDA margin rose by 10.8 percentage points year over year to 8.7 percent.

The final report showed the same direction in the income statement. MarketScreener reported a second-quarter net loss of PLN 338.94 million, compared with PLN 514.93 million a year earlier, while sales rose from PLN 3,317.55 million to PLN 3,371.87 million.

Revenue holds while losses narrow

For the first half of 2026, sales were PLN 7,071.20 million, compared with PLN 7,137.87 million in the first half of 2025. The same period produced a net loss of PLN 496.30 million, an improvement from PLN 803.10 million a year earlier, according to MarketScreener.

The improvement is therefore concentrated in operating performance rather than bottom-line profitability. The September 10, 2026 half-year filing showed consolidated operating profit of PLN 157.52 million for the first half, against an operating loss of PLN 639.65 million in the comparable period, while net debt and financing costs remain central to the investment case.

Targets set above the last quote

Analyst benchmarks remain higher than the last Warsaw quote. PPCG Stock reported that DM BOS raised its target from PLN 21.00 on April 23, 2026, to PLN 24.00 on August 4, 2026, while keeping a buy recommendation.

That target history contrasts with DM BOS targets of PLN 15.00 and PLN 13.00 in 2025. The shift reflects the operating recovery, but the continuing net loss means the market still has to weigh earnings improvement against balance-sheet pressure.

Warsaw quote and next report

Grupa Azoty was last quoted at PLN 19.59 on the Warsaw Stock Exchange on September 24, 2026. MarketScreener lists the next earnings release for November 18, 2026, giving the next results cycle a clear date.

Grupa Azoty at a glance

• Company: Grupa Azoty S.A.
• Ticker: ATT
• Primary exchange: Warsaw Stock Exchange
• Last Warsaw quote: PLN 19.59 as of September 24, 2026
• Sector: Basic Materials
• Industry: Agricultural Chemicals
• Index membership: mWIG40