Pulawy fertilizer producer hurt by high gas prices

(Paweł Kubisiak)
opublikowano: 19-09-2006, 17:23

Warsaw (Puls Biznesu) – The listed fertilizer producer has lower income due to high gas prices.

Warsaw (Puls Biznesu) – The listed fertilizer producer has lower income due to high gas prices.

 

Pulawy, Poland’s biggest nitrogen fertilizer producer expects to have over PLN 2.038 billion (EUR 515.6m) of sales in its financial year 2006-07 started in July. The net income will amount to PLN 83m. Last year, the sales amounted to PLN 2.03 billion and the income to PLN 126.2m. Lower net income was caused by rising gas prices. Pulawy use 850-900m of cubic meters of gas, being one of its biggest consumers in Poland.

“Due to higher gas prices our costs grew by PLN 126m. We are investing to decrease the production costs”, Malgorzata Iwanejko, Pulawy CEO said.

 

 

The company continues the investment program worth PLN 700m which is supposed to increase capacity and effectiveness.

“We want to keep the position of the leader in the Polish fertilizer and chemical sector”, Malgorzata Iwanejko assured.

Pulawy counted on Emfesz, the Hungarian company which wanted to deliver gas to Poland. However, the firm cannot do it today.

“We are negotiating with Gaz System and waiting for the final version of the transmission agreement but talks are not easy”, Zbigniew Dzideczek, the member of Emfesz board said.

(PLN 1 = EUR 0.253)

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Podpis: (Paweł Kubisiak)

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