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Group strategy

CIECH Group Strategy for 2019-2021

On 5 December 2018 the Supervisory Board of the Company approved the CIECH Group Strategy for 2019-2021 adopted by the Management Board of the Company. New strategy aims to adapt the Group's operations to the changing environment.

Vision & ambition

According to the new Strategy for 2019-2021, CIECH Group vision is to create an effective and diversified chemical holding which generates a positive value for shareholders in the long term, and, apart from the soda business, holds a significant position in innovative, specialised market segments.

CIECH Group ambition for 2021 is to create real value for all Stakeholders:

Shareholders

increase in the value of the Group - increase of EBITDA to PLN 900+ m in 2021 and - thanks to product diversification - at least 35% EBITDA from businesses other than soda

Customers

CIECH is a leader in terms of the quality of customer service, thanks to development of specialist products in response to customer needs and further development of additional services for customers

Employees

CIECH is one of the best employers in the chemical industry in the markets where operates - building an environment in which the best people can develop and create a culture of effectiveness, thus implementing the Group's strategy. Further improvement of safety and working conditions

Community & ecology

A credible partner of local communities, demonstrating responsibility for the natural environment

Values

The strategy of the CIECH Group will be implemented in accordance with the following values: client-centric, innovation, efficiency and effective management.

„We have prepared a strategy aimed at stable and precisely planned development of the CIECH Group, which will result in business diversification, strengthening of the leading position on the soda ash market, expansion in the salt area, and using the potential of the organic segment and intra-group synergies in the area of silicates. An important element of the strategy is the use of employees' potential through the implementation and improvement of the best HR practices, as well as the innovations and effects of the R&D Department's work. In terms of the operation of the strategy, we do not impose any restrictions on the choice of the Group's development model, thus confirming a flexible approach to our asset portfolio management. In 2021, CIECH is to be an effective and diversified chemical holding company” - says Dawid Jakubowicz, President of the Management Board of CIECH S.A.

Pillars of the CIECH Group Strategy by 2021

New Strategy foresees the development of the CIECH Group towards a more effective and diversified chemical holding. This goal will be achieved by increasing competitive advantages in the key soda business, further investing in the development of specialist businesses and value creation through changes in the asset portfolio, based on the following three pillars: customer orientation, innovation and increased efficiency.

Strategic financial goals

Strategic financial goals of CIECH Group Strategy 2019-2021:

  1. Sales revenues: PLN 4.0+ b

  2. Adjusted EBITDA: PLN 900+ m

  3. Adjusted EBITDA margin: 22%+

  4. At least 35% adj. EBITDA of the CIECH Group is expected from other businesses then soda

 

Strategy execution stages

Stage 1 (2019-2021)

More effective soda assets along with growing specialist businesses

In the first stage of strategy implementation, the CIECH Group will focus on increasing the efficiency in the soda business and investing in the development of specialist businesses through further investments in to improve efficiency in the soda business, investments in energy facilities, continuation of investments launched in specialist segments and overview of the Group's involvement options in specialist segments and innovations.

Stage 2 (2022-2024)

Modern diversified European Chemical Group

In the second stage of the strategy implementation, the CIECH Group will be a modern, diversified European chemical group, with effective soda business supported by innovation and efficient energy facilities. CIECH will also improve its specialised businesses focused on rapid organic growth.

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