Current Report No.: 19/2022

Strategy of the CIECH Group for 2022-2024

Current Report No.: 19/2022

Date of preparation: 18.05.2022

Abbreviated name of the Issuer: CIECH S.A.

Subject: Strategy of the CIECH Group for 2022-2024 

Legal basis: Art. 17.1 of the MAR – inside information


Text of the report:

The Management Board of Ciech S.A. (the “Issuer” or “Company”) herewith informs that on 18 May 2022, the Supervisory Board of the Company approved the “Corporate Strategy 2022-2024” as adopted by the Management Board of the Company (the “Strategy”).

The aim of the Strategy is to continue building a modern and competitive chemical group with a global reach. The Strategy assumes the intensification of activities in the following three areas: business, corporate - understood as a further transformation of the CIECH Group and the area of value creation for all stakeholders of the CIECH Group. 

The main assumptions of the Strategy are: further development of core businesses in order to increase the possibility of generating operating flows and regular payment of dividends, the possibility of acquisitions within core businesses and further transformation of the CIECH Group using digitisation and innovation, and the continuation of building corporate culture, process excellence and improving the safety of the CIECH Group employees.

The following are strategic financial goals of the CIECH Group:

  1. normalised EBITDA in 2024 ranging between PLN 870 million and PLN 930 million;
  2. cash conversion in 2024 at the level of 30 – 35 %; and
  3. cumulated FCFE for the period 2022-2024 – PLN 580 million – PLN 680 million. 

The Strategy has been appended to this Report.

The presented data cannot be understood as a forecast of future results of CIECH S.A. or the CIECH Group. Any forward-looking statements, i.e. regarding expectations as to future financial results do not constitute a guarantee or assurance of their achievement in the future. CIECH S.A. shall not be held responsible for the effects of any decisions made on the basis of the presented data. Such responsibility rests solely with the data user.


Legal basis: Article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L No. 173, p. 1).


Signatures of the Company’s representatives:

Dawid Jakubowicz – President of the Management Board  

Mirosław Skowron  - Member of the Management Board

.pdf Corporate Strategy 2022_24

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