PCC SE: PCC reports significantly improved sales and earnings performance in fourth quarter 2020

Gross profit up 25% on previous quarter, with operating profit more than tripling

Duisburg (pta029/17.03.2021/15:43 UTC+1) Duisburg-based investment holding company PCC SE significantly increased Group sales and earnings in the fourth quarter of 2020 thanks to rising demand in the course of the year. Quarterly sales rose by around 7% to EUR 179.7 million and gross profit by almost 25% to EUR 64.8 million. PCC posted an increase in consolidated earnings before interest and other financial items, taxes, depreciation and amortization (EBITDA) of 36% to EUR 27.1 million, while operating profit (EBIT) amounted to EUR 8.1 million, more than three times the figure for the previous quarter.

"The fourth quarter saw an upturn in selling prices due, among other things, to rising demand in many business segments," explained Ulrike Warnecke, Managing Director of PCC SE. As a consequence, the Chemicals division, the largest of the PCC Group, closed the fourth quarter of 2020 successfully and significantly exceeding earnings expectations prior to the coronavirus crisis, particularly in the Polyols and Surfactants segments. The second largest division, Logistics, also registered a positive sales trend, closing the fourth quarter with a substantial increase in earnings.

Over full fiscal 2020, the PCC Group generated consolidated sales of EUR 716.2 million despite the collapse in commodity prices triggered by the coronavirus crisis. This represents a decline of some 7% versus the previous year. The PCC Group also posted a decrease in total earnings for fiscal 2020. This was mainly due to losses incurred by the silicon metal production facility in Iceland commissioned in 2019, in particular as a result of sharply lower market prices. Adjusted for the results of this company, EBITDA, EBIT and earnings before taxes (EBT) of the PCC Group in 2020 were in each case slightly above the positive figures for 2019. Some core businesses of the Chemicals division even saw earnings significantly increase compared to 2019. This division recorded high capacity utilization rates throughout the 2020 fiscal year, which was dominated by the coronavirus crisis.

The aforementioned Group financials are unaudited.

Progress in the planned investment project in Malaysia
On November 12, 2020, PCC SE completed the sale of 50% of its stake in the Malaysian project company PCC Oxyalkylates Malaysia Sdn. Bhd. to Petronas Chemicals Group Berhad (PCG). PCG is one of the leading chemical producers of Southeast Asia. Together with this strong partner, PCC SE is planning to establish a production facility for oxyalkylates, particularly polyols and surfactants, so as to expand its core business activities across the rapidly growing Asian chemicals market.

Redemption of maturing bond
On December 1, 2020, PCC SE repaid on maturity the 2.00% bond carrying the code ISIN DE000A2TR422, which was issued in April 2019. The redemption amount was EUR 4.5 million.

PCC's quarterly report for Q4 2020 is available at http://www.pcc-financialdata.eu. The 2020 Annual Report of the PCC Group containing the audited consolidated financial statements will be published in May 2021.

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 3,000 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, who, now as its sole shareholder, is Chairman of the Administrative Board of PCC SE. The PCC Group generated consolidated sales of around EUR 700 million in fiscal 2020, with its capital expenditures totaling some EUR 65 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):	DE000A3H2VT6 (Bond) DE000A3H2VU4 (Bond)
Stock Exchange(s):	Free Market in Frankfurt