PCC Group publishes quarterly report Q2/2023

Duisburg, August 23, 2023. The sales and earnings performance of the PCC Group weakened significantly in the second quarter of 2023 due to cyclical headwinds. Q2 revenues of the PCC Group fell by almost a quarter to € 236.2 million year on year, while half-year sales declined by 17.8% to € 548.9 million. PCC’s half-year EBITDA stood at €67.9 million, with operating profit (EBIT) coming in at €29.6 million.

“One of the main causes of the downward trend was declining demand from many industrial sectors as a result of the weaker economic environment,” explains Ulrike Warnecke, member of the Executive Board of PCC SE. “In addition, high inventory levels among many of our customers led to significant purchasing restraint. The situation has been exacerbated by persistently high levels of competition from China, as a result of which selling prices in Europe – our main sales market – have come under increasing pressure.” The Silicon & Derivatives segment was particularly affected by this trend in the period under review. Also impacted by the downturn were the three chemicals-producing segments Polyols & Derivatives, Surfactants & Derivatives and Chlorine & Derivatives. “As was European industry as a whole,” Warnecke added.

The aforementioned Group financials are unaudited. They are currently undergoing a review by the auditors and will be published on our website,
www.pcc-financialdata.eu / www.pcc-finanzinformationen.eu,
in the course of September 2023.

Detailed information on PCC’s business performance in the second quarter can be found in the PCC Group Quarterly Report 2/2023. Go here for a PDF download.

Headquartered in Duisburg, Germany, PCC SE is the parent and investment holding company of the globally active PCC Group with its approx. 3,400 employees. Its Group companies have core competencies in the production of chemical feedstocks and specialty chemicals, silicon and silicon derivatives, and in container logistics. An investor committed to the longer term, PCC SE concentrates on continuously increasing the enterprise value of its portfolio companies through sustainable investments and the ongoing creation of new value. The largest chemical producers of the PCC Group are PCC Rokita SA, a major chlorine manufacturer and Eastern Europe’s leading producer of polyols, and PCC Exol SA, one of Europe’s most advanced surfactant manufacturers. PCC BakkiSilicon hf. operates in Iceland one of the world’s most modern and climate-friendly silicon production facilities. PCC was founded in 1993 by Waldemar Preussner, sole shareholder of PCC SE, who today holds the position of Chairman of the Supervisory Board. The PCC Group generated consolidated sales of around € 1.3 billion and earnings before interest/financial result, taxes, depreciation and amortization (EBITDA) of some € 292.0 million in fiscal 2022, with capital expenditures in the same year amounting to around € 116.3 million.