Press releases

Very good consolidated financial results of CIECH in 1Q 2016

In 1Q 2016, the CIECH Group achieved very good results and managed to improve its key financial parameters again. In comparison with the corresponding period of the previous year, EBITDA (adj. - adjusted) grew by 7% y/y and amounted to PLN 206 million. EBITDA (Adj.) margin was at the level of 25%, which represents an increase by 1.4 p.p. in comparison with the corresponding period in 2015. Such good results are mainly an effect of implemented optimization activities of the group and consistently-followed strategy of organic growth. During the reporting period, the results of the Group were also affected by the favourable market environment.


In 1q 2016, the consolidated revenues of the CIECH Group amounted to PLN 826 million, EBIDTA was PLN 204 million (increase by 17.6% y/y), and adjusted EBITDA (Adj.) PLN 206 million (increase by 7%). The net profit was at the level of PLN 102 million (increase by 92.1%). 

“The results achieved by us confirm the justification of the assumptions adopted by the strategy of the CIECH Group. In 1Q 2016, we completed the SODA +200 project of production capacity extension, and in the organic segment we have introduced a new product line - ZIEMOVIT. We endeavour to ensure that the Group is in a continually better condition. We consistently implement our long-term goals, transforming CIECH into a global company. An important role in this process is served by the support offered to us by our majority shareholder  - the Kulczyk Investments group,” said Maciej Tybura, President of the Management Board of CIECH S.A.

In the soda segment, the results were positively affected by the sale of additional product volumes. 

During the reporting period, the Group also took advantage of lower prices of energy sources and raw materials (gas, coal, coke), and the situation was additionally improved by the weakening of PLN and RON.

In the first quarter of the current year, the organic segment noted poorer results in comparison with the corresponding period of the previous year. This was affected by active and highly successful pre-season sale of plant protection products during the last quarter of 2015. It is worth emphasizing that during the first quarter of the current year, CIECH Sarzyna S.A., the largest Polish producer of plant protection products, presented a new product line of ZIEMOVIT in the Home and Garden category. This is an element of the strategic organic development of the CIECH Group.

During the period under discussion, the investment of CIECH Vitrosilicon in a new furnace for sodium silicate production was also continued. The positive factors of 1Q 2016 also include a lower cost of debt servicing thanks to the Group’s debt refinancing operation which ended in 4Q 2015. This positively contributed to an increase in the net profit in 1Q 2016.  


Table – results of the CIECH Group for 1Q 2016

[million PLN]1Q20161Q2015y/y
Gross profit on sale24421414,0%
Gross margin on sale29.5%26.1%3.4 p.p.
EBIT margin18.2%14.3%3.9 p.p.
EBITDA margin24.6%21.2%3.4 p.p.
EBITDA (Adj.)2061937.0%
EBITDA margin (Adj.)25.0%23.6%1.4 p.p.
Net result1025392.1%
Net margin12.4%6.5%5.9 p.p.

Contact for the media:

Maciej Powroźnik, Spokesman of the CIECH Group

Tel. (+48 22) 639 17 70, mobile 50 50 50 426, email:

The CIECH Group is one of the leaders on the European chemical market. It has a well-developed production structure (8 plants) and a commercial network in Poland, in Europe and in the world. The main products of the Group are: soda ash (the second place in Europe as a supplier), baking soda, salt, plant protection products, epoxy, polyester resins and other organic chemical products which are applied in glass, furniture, chemical, construction industries and agriculture. Since February 2005, CIECH SA has been listed at the Warsaw Stock Exchange. The largest shareholders of the company are: KI Chemistry s. à r. l., with a registered office in Luxembourg (51.14 per cent of shares and voting rights at General Meeting), and OFE Nationale-Nederlanden (9.49 per cent). More information at

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