PCC SE: PCC maintains markedly positive business development in Q3

PCC Group increases sales to Euro 702.0 million as of September 30, up 31 % versus previous year

Duisburg (pta056/11.11.2021/16:28 UTC+1) With further significant increases in sales and earnings, Duisburg-based investment holding company PCC SE continued its positive business development in the third quarter of 2021. Consolidated sales rose year on year by 51 % to Euro 253.6 million in Q3 and, in the first nine months, by 31 % to Euro 702.0 million. "This means that Group sales were also clearly above our expectations," says PCC SE Executive Board member Ulrike Warnecke, adding: "The main contributors to this gratifying development were the continuing boom in demand and the resultant high selling price levels." In the case of some products such as silicon metal, flame retardants and, more recently, the chlorine by-product caustic soda, the PCC Group benefited additionally from the decline in exports from China, a consequence of the rationing of energy supplies there and a partial shutdown of industrial production.

PCC Group earnings likewise significantly exceeded both the previous year's pandemic-impacted results and the targets set for the current financial year. Earnings before interest and other financial items, taxes, depreciation and amortization (EBITDA) rose to Euro 40.4 million in the third quarter, more than double the previous year's figure, and to Euro 126.5 million in the first nine months - an increase of 138 %. Third-quarter operating profit (EBIT) increased around eightfold year on year to Euro 23.1 million, while the Group's nine-month EBIT rose 24-fold to Euro 73.9 million.

Chemicals and Logistics divisions substantially in profit
As the main revenue generator of the PCC Group, the Chemicals division succeeded in maintaining the high level of performance of the preceding quarter with sales in Q3 coming in at Euro 202.1 million. As of September 30, cumulative divisional sales amounted to Euro 582.4 million, thus far exceeding both the prior-year figure of Euro 429.6 million and expectations for the period under review. The earnings figures followed a similar pattern. With the exception of Consumer Products, all segments of the Chemicals division contributed to this successful development. And the third quarter of 2021 once again saw the Logistics division post record sales of Euro 30.1 million; it also exceeded the already exceptionally good figures of the preceding two quarters in terms of earnings, primarily due to the strong performance of the Intermodal Transport business segment.

Silicon metal plant in Iceland generates first small profit
The silicon metal plant of PCC BakkiSilicon hf. in Iceland continues to show positive development. Following the restart of its two furnaces, this affiliate is now producing high-grade output at a stable level. The sharp rise in demand for silicon metal coupled with a lack of supplies from China has led to an upward trend in selling prices. As a result, PCC BakkiSilicon hf. generated a small profit for the first time in September 2021, at least at the operating level.

The second major project company in the Holding/Projects segment, the Russian entity DME Aerosol, again significantly increased its sales volumes in the third quarter. Consequently, this investment, which PCC SE manages in a joint venture with a Russian partner, also ended the third quarter on a positive note with earnings ahead of expectations.

Redemption of maturing bond
On October 1, 2021, PCC SE repaid on maturity the 6.75 % bond ISIN DE000A13SH30 issued in December 2014. The redemption amount was Euro 19.9 million.

The aforementioned Group financials are unaudited. The quarterly report is available online at https://www.pcc-financialdata.eu .

Profile of PCC SE
Headquartered in Duisburg, Germany, PCC SE is the parent and investment holding company of the globally active PCC Group with its more than 3,200 employees. The Group companies of PCC SE have core competencies in the production of chemical feedstocks and specialties, with container logistics forming a further strong pillar in the investment portfolio. 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 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 Euro 717 million in fiscal 2020, with its capital expenditures totaling some Euro 67 million. For further information, go to: https://www.pcc.eu

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Emitter:	PCC SE Moerser Straße 149 47198 Duisburg Germany
Contact Person:	Susanne Biskamp, PCC Head of Marketing & PR
Phone:	+49 2066 2019-35
E-Mail:	susanne.biskamp@pcc.eu
Website:	www.pcc.eu
ISIN(s):	DE000A3MQEM0 (Bond) DE000A3MQEN8 (Bond)
Stock Exchange(s):	Free Market in Frankfurt