CIECH’s new strategy: in 2024, the Group is to be even more competitive and innovative; possible acquisitions

Further increase of the potential to generate operating flows in order to regularly pay dividends, the possibility of acquisitions within core businesses, as well as further transformation of the Group due to digitisation and innovation processes – these are the basic assumptions of the CIECH Group's Strategy for 2022-2024. The EBITDA (n)1 profit in 2024 is expected to range between PLN 870 and PLN 930 million, i.e. by 20-28 percent more than in 2021. After the completion of the largest ever investment programme of the Group in 2019-2021 and increasing the efficiency and scale of operation of individual businesses, the capability to pay dividends will improve, even assuming potential acquisitions.


The accumulated free cash flow to equity (FCFE) in 2022-2024 is to amount to approx. PLN 580 – PLN 680 million, and investments will range between PLN 400 and PLN 450 million per annum.


An important element of the strategy is a precise approach to development options through acquisitions. Potential acquisitions may be related to areas identical to the activities of the Group's core businesses, and the entities to be acquired may be medium-sized or large companies, enjoying good financial condition enabling them to operate independently, operating on developed markets. Such acquisitions should result in strengthening CIECH’s market position and diversification in terms of revenues, products and geography.


- CIECH's Strategy for 2022-2024 is a continuation of building a modern and competitive chemical group with a global reach. The foundation developed in recent years enables us to further increase our efficiency, strengthen our organisational culture, increase the innovation component in the Group's activities, and to maximise the effects of potential acquisitions. Despite the challenges that we identify in the latest strategy, our goal is to continuously generate dividends for our shareholders, regardless of whether we are going to grow organically or through acquisitions – says Dawid Jakubowicz, President of the Management Board of CIECH S.A.


The new strategy of the Group assumes activities in the following three areas: business, corporate (continued transformation into a modern and competitive chemical group) and building value for all stakeholders.




The 2022-2024 Strategy defines the role of individual businesses in achieving the Group's goals. The soda business, by further increasing its efficiency, is to use the favourable market environment, and the initiatives are grouped in the following four areas: cost efficiency improvement (including by reducing the consumption of raw materials thanks to R&D activities), energy transformation, process improvement in the area of sales and customer service, and the use of the potential of sodium bicarbonate sold under the SOBIC brand, including its specialised varieties intended for dialysis and pharmacy.


In the salt area, the main objective is to use the full potential of the new evaporated salt plant, enter the pharmaceutical-grade salt market and achieve the goal of creating a complete product mix and full production capacity in 2024.


In the Agro business, further expansion is based on the use of proprietary (in-house) formulations with a meaning similar to that achieved by the breakthrough product - HALVETIC®, which made its debut in 2021. In the perspective of the new strategy, its expansion on the market outside the European Union will allow for further geographical expansion of this business. A new element of the strategy for CIECH activity is to use up-to-date solutions, e.g. precision farming, by establishing cooperation with, among others, start-ups and creating comprehensive solutions for farmers.


The use of increased production capacity (a new furnace commissioned at the end of 2021) is the assumption of the development strategy for the Silicate business. In this manner, CIECH Vitrosilicon will strengthen its position of the largest supplier of silicates in Europe, and will also take advantage of the favourable economic conditions for this raw material.


The objectives of the Foam Business are, above all, increasing efficiency and introducing modern “Industry 4.0” solutions.


The identification and use of new market niches is the basis for the activity of the Packaging business, which, in addition, will be modernising its production lines in terms of their efficiency improvement.


- Each of our businesses has its own precise action plan. And each such action plan complies with the Group's goals and will be implemented with the support of CIECH S.A. We want to take advantage of both the favourable prospects of individual markets, the effects of recent investments, and, above all, the potential of our team, for whom we want to create the best conditions for development – says Jarosław Romanowski, Member of the Management Board of CIECH S.A.




In the corporate pillar, the main directions of activities and transformation are related to the further increase of the safety level of the Group's employees and the implementation of best practices in production plants. The objective is to reduce the number of incidents in the Health&Safety area by 30 percent by 2024.


Other elements of building a modern chemical group include further creation of an engaged work environment, employee development based on the values of the CIECH Group and implementation of modern HR tools.


The next issue is innovations, the purpose of which is to serve both existing businesses and the search for future market niches, for example, by investing in start-ups and the activity of the new company - CIECH Ventures. On the one hand, R&D activities are aimed at reducing costs (CO2 emissions, energy recovery, saving resources), and on the other hand, expanding the portfolio of innovative solutions for customers, including in the Agro or Foam areas. Additionally, the Group will introduce circular economy mechanisms and will continue to digitise its business processes.


- Our products are manufactured in nine production plants, which have to be a safe and friendly workplace. The new strategy places a very high priority on the issues of employee safety and development. We are also expanding the range of innovation-friendly tools, as today CIECH is not merely a team of professionals with international academic experience but also a new company focused on acquiring the best solutions from the world of start-ups – says Mirosław Skowron, Member of the Management Board of CIECH S.A.




Defined on the basis of the award-winning ESG strategy of the CIECH Group, the third area of the company's business strategy for 2022-2024 identifies and defines goals in relation to the Group's stakeholders: shareholders, investors, employees, customers, suppliers, local communities, and also - for future generations.


The eight commitments of the Group, announced in 2021, were defined for the purposes of the business strategy in the form of an action plan for the next three years, including, among others, initiatives to reduce greenhouse gas emissions, energy saving assumptions, measures for the benefit of employees and compliance with the best corporate practices.


Contact for media:

Mirosław Kuk, Spokesperson, tel. +48 723 66 86 86


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1EBITDA (n) – normalised EBITDA result, net of one-off events.

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