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ZAP GPW Periodic report · PAP Biznes

Grupa Azoty Puławy SA (ZAP) · Q1 2026 results

Share price: 43.40 zł · 2026-11-10

Results Q1 2026 vs Q1 2025 · year over year · published 28 May 2026 and 28 May 2025

Net income turned to a profit from a loss a year earlier. The language turned more upbeat.

Only a basic analysis is available for this company at the moment.

1 · Numbers

Turned profit

Net income vs Q1 2025

Net income 27.5M vs -88.1M

Revenue +3.4%

2 · How the report reads

More upbeat

Language tone vs last period

Report language: typical for a company report — more upbeat than in Q1 2025.

Weak signal: formal report language, not a call.

3 · What stood out

Figure

The Council of Ministers passed a law providing 60.2 billion PLN in public support, which is noted as one of the most important events of the period.

Official channels

The company's own website and social media accounts.

Read between the lines

No major shifts flagged this period.

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q1 2026. Ring: Q1 2025.

Report language Typical (was typical)

Typical for a company report — more upbeat than in Q1 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“Sulfur, the prices of which are steadily rising, undoubtedly has a huge impact on the price of sulfuric acid.”
“The sharp rise in oil and natural gas prices, along with rising logistics costs, threatens both products and stakeholders.”
“At the same time, ongoing cost pressures increase the risk of central banks tightening monetary policy, and in some economies, considerations of interest rate hikes, which may limit lending and activity...”

Full figures

PLN · PAP Biznes report (2026-05-28)

Metric Q1 2026 Q1 2025 Change
Revenue 1.14B 1.10B +3.4%
Gross profit 141.5M 49.3M +186.9%
Operating income 57.3M -73.2M Turned profit
Net income 27.5M -88.1M Turned profit
EPS 1.43 -4.61 Turned profit
P/E 12-mo loss 12-mo loss —

Topics

Topics are drawn from the full report text, not management commentary.

Most discussed now

  • The outbreak of conflict in the Middle East, which caused disruptions in trade flows and an increase in logistics costs
  • On the domestic market, an increase in the average selling price of sulfuric acid was also recorded (driven primarily by the rise in the…
  • From the producers' side, this could lead to a reduction in the utilization of production capacity, while on the buyers' side, a collapse…
  • Reconciliation of income tax on the gross financial result before taxation at the statutory tax rate with income tax calculated at the…
  • The contract at the amount specified by him was unfounded, as it referred to the amount of remuneration not only for construction works.

Faded since Q1 2025

  • Fading In the euro zone, the cycle of interest rate cuts is expected to continue at a pace of 0.25 pp.
  • Fading The reduction of gas supplies from Russia increased the supply of cheap fertilizers from Russia/Belarus to Poland and Europe.
  • Fading The condensed interim consolidated financial statements were prepared for the reporting period of 3 months ending March 31, 2025.
  • Fading The gas transport/transmission fees were determined by a tariff for the national transmission system, which was 14% higher in the first…

Latest announcements

Official filings, newest first.

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