PCC SE: PCC reports year-on-year revenue growth and significant earnings increase in fourth quarter

PCC Group continues upward trend from Q4 2024 into the new year

Duisburg (pta026/28.03.2025/15:55 UTC+1)

The Duisburg-based PCC Group recorded revenue growth and positive earnings at all levels in the fourth quarter of 2024 compared to the same period in the previous year. Quarterly revenue increased by 5.4% to € 237.8 million, earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 27.2% to € 42.0 million, and operating profit (EBIT, earnings before interest and taxes) grew by 56.6% to € 18.1 million. Pre-tax profit (EBT) for the quarter amounted to € 27.7 million. "The fourth quarter of 2024 produced significantly better results at all earnings levels than the third quarter, a positive trend that has continued through the turn of fiscal 2025 in nearly all our business segments," said Riccardo Koppe, Executive Board Member and Chief Financial Officer of PCC SE.

While certain business segments, particularly Surfactants & Derivatives and Logistics, delivered encouraging performances, overall expectations for the fiscal year were not met. Group revenue declined by 3.3% to € 960.4 million, and EBITDA decreased by –21.3% to € 88.3 million. However, with its strong performance in the fourth quarter, the PCC Group was able to halt the negative trend from the previous quarter, resulting in a small operating profit of € 1.8 million for the full year. On a pre-tax basis, the Group reported a net loss of € –29.1 million for the year.

The PCC Group's business performance in 2024 was significantly impacted by the persistently weak economic conditions in Germany and across the European Union, the corporation's primary sales markets. Additionally, aggressive export policies from non-European countries, particularly China and Brazil (for silicon metal), continued to exert pressure. Ongoing geopolitical upheavals and uncertainties, including the Russia-Ukraine war, the Middle East conflict, political instability in Germany following the collapse of the governing three-party coalition, and political shifts in the United States, also negatively affected economic conditions.

Segment performance

The Surfactants & Derivatives segment performed particularly well. The segment was able to maintain its strong prior-year operating profit levels. Revenue increased by 18.1% in the fourth quarter and by 8.3% for the full year. The Logistics segment also delivered highly positive results. The segment's dominant business area, intermodal transport, supported by five wholly-owned terminals in Poland and Germany, further increased container handling volumes in the fourth quarter. This led to a 35.3% year-on-year rise in segment EBITDA. Additionally, PCC strengthened its market position in intermodal transport in 2024, becoming Poland's leading intermodal logistics provider with a 19.6% share of freight revenue.

The Polyols & Derivatives segment recorded a slight decline in fourth-quarter revenue but improved its earnings. Quarterly revenue decreased by –4.4% year on year, with full-year revenue declining by –4.8%. The Chlorine & Derivatives segment showed positive trends in revenue and earnings in Q4 2024, achieving a full-year operating profit despite lower prices.

The Silicon & Derivatives segment continued to report operating losses in the fourth quarter of 2024 but managed to significantly reduce them for the full year. Due to the ongoing price-driven losses, PCC has initiated a comprehensive package of measures in collaboration with an external restructuring consultant to effect a turnaround. Additionally, PCC continued developing its high-purity silicon production in 2024 to enhance its competitive differentiation.

The Trading & Services segment increased its revenue compared to the previous quarter and made a positive contribution at all earnings levels. The Holding & Projects segment focused on expanding PCC's core chemical business in the United States during the fourth quarter. As part of these efforts, PCC is evaluating the construction of its own chlor-alkali plant and signed a long-term offtake agreement for chlorine supplies with US chemical company Chemours in December 2024. This agreement serves as the commercial foundation for a potential investment in building the plant at Chemours' site in DeLisle, Mississippi, and mitigates potential market and sales risks.

Redemption of maturing bonds

In the fourth quarter of 2024, PCC SE redeemed two bonds at final maturity: on October 1, the 4.00 % bond ISIN DE000A2TSEM3 issued in July 2019 (repayment volume € 30.0 million) and on December 1, the 4.00 % bond ISIN DE000A254TZ0 issued in April 2020 (repayment volume € 34.5 million). On February 1, 2025, PCC SE redeemed the 4.00 % bond ISIN DE000A2YN1K5 issued in October 2019 at final maturity. The repayment volume amounted to € 29.1 million.

The reported financial figures are unaudited. The full quarterly report is available online at https://www.pcc-financialdata.eu. The 2024 Annual Report is scheduled for publication on May 15, 2025.

About PCC SE

Headquartered in Duisburg, Germany, PCC SE is the parent and investment holding company of the globally active PCC Group with around 3,300 employees. Its Group companies have core competencies in the production of chemical feed stocks 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 advanced and climate-friendly silicon metal 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. In the 2024 fiscal year, the PCC Group generated consolidated sales of approximately €960 million and consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately €88 million. The investment volume in 2024 amounted to approximately €127 million. For further information on PCC, 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):	DE000A383S03 (Bond) DE000A4DFLK9 (Bond)
Stock Exchange(s):	Free Market in Frankfurt