PCC SE: PCC achieves earnings growth in third quarter despite challenging market environment

PCC Group more than triples quarterly EBITDA and posts positive operating result

Duisburg (pta035/14.11.2025/15:11 UTC+1)

The Duisburg-based holding company PCC SE achieved earnings improvements in the third quarter of 2025, with almost all segments increasing their EBITDA (earnings before interest, taxes, depreciation, and amortization). However, consolidated sales declined slightly. The quarter was marked by continued strong price competition from non-European manufacturers. Compensation for CO2 certificates for our energy-efficient chlorine production had a positive effect, while rising fixed costs and interest expenses had a negative impact on earnings.

Sales of the PCC Group declined by 5.5% year on year to €224.6 million in the third quarter, mainly due to price declines in the Chlorine segment and lower volumes in the Silicon & Derivatives segment. The Surfactants & Derivatives and Logistics segments, on the other hand, continued their very good performance from the first half of 2025. Sales for the first nine months declined by 1.9% to €708.8 million.

At €24.5 million, EBITDA in the third quarter was more than two-and-a-half times higher than in the previous year and totaled €57.9 million for the first nine months, up 24.9% on the previous year. At the operating level (EBIT, earnings before interest and taxes), PCC achieved a positive result of €3.9 million in the third quarter. This reduced the cumulative loss for the first nine months to €-4.8 million. EBIT improved by 70.6% compared to the previous year. Due to the effects mentioned above, earnings before taxes (EBT) also rose in the third quarter, with the loss figure falling to €-9.3 million.

"Overall, business development in the third quarter was in line with expectations. As in previous quarters, some of our activities in basic chemicals were negatively affected by competition, in part unfair, from cheap imports from China," said Riccardo Koppe, member of the Executive Board and Chief Financial Officer of PCC SE. "There was also little relief on the cost side, and the European economy has yet to recover in the manner anticipated for the second half of the year."

Group segment performance

As in previous quarters, the Surfactants & Derivatives segment performed well. Sales rose significantly, by 14.6% compared to the same quarter of the previous year, and EBITDA continued to increase. The Polyols & Derivatives segment also increased its sales and EBITDA in the third quarter of 2025. By contrast, the Chlorine & Derivatives segment suffered a price-related decline in sales, although earnings were stabilized by compensation for the development in the CO2 price.

On July 20, 2025, the Silicon & Derivatives segment implemented the previously announced temporary shutdown of silicon metal production. The reason for this is that, due to the unclear tariffs policy of the USA toward China, and the weak domestic demand there, more cheap imports entered Europe, which further depressed the already persistently low price level. The costs incurred by the facility are currently being reduced to a minimum and we are continuing to pursue the goal of creating market conditions and a cost situation that will allow production to be restarted.

In the Trading & Services segment, revenue declined in the third quarter, while earnings rose. Intermodal container logistics, the dominant business area in the Logistics segment, continued its positive business development in the third quarter and reported increased revenue, although its cumulative EBITDA figure remained at the previous year's level.

In the Holding & Projects segment, the focus remained on expanding our core chemical business in the USA. In particular, we are examining the construction of a chlor-alkali plant at the site of the US chemical company Chemours in DeLisle, Mississippi. In the third quarter, the project was irrevocably granted an Air Construction Permit in the state of Mississippi. This means that no further significant permits are pending. Tenders for around 80% of the construction phase trades have been launched and the bids are now being evaluated and negotiated.

Issuance of the 100th PCC bond

On October 1, 2025, PCC SE issued the 100th bond in the company's history. Since the initial issuance in 1998, more than 20,000 investors have subscribed to PCC bonds with a total value of around €1.7 billion, of which PCC has repaid over €1.1 billion to date. The anniversary bond DE000A4DFWY7 carries a coupon of 5.50% p.a. and a term of around five years.

Redemption of maturing bonds

On July 1, 2025, PCC SE redeemed the 4.00% bond ISIN DE000A2YPFY1 issued in 2019 (repayment volume: €23.8 million). And on October 1, the 4.00% bond ISIN DE000A3H2VU4 issued in 2020 was redeemed at maturity. The repayment volume amounted to €29.7 million.

The consolidated figures quoted are unaudited. The quarterly report is available online at https://www.pcc-financialdata.eu and https://www.pcc-finanzinformationen.eu (original German version).

Brief profile of PCC SE

PCC SE, headquartered in Duisburg, is the investment holding company of the globally operating PCC Group, with approximately 3,200 employees. Its group companies possess core competencies in the production of chemical raw materials and specialty chemicals, as well as in container logistics. As a long-term investor, PCC SE focuses on continuously increasing the corporate value of its holdings through sustainable investments and consistently creating new value. The largest chemical producers within the PCC Group are PCC Rokita SA, a significant chlorine producer and Eastern Europe's leading producer of polyols, and PCC Exol SA, one of the most modern surfactant producers in Europe. PCC was founded in 1993 by Waldemar Preussner, sole shareholder of PCC SE, who currently chairs the Supervisory Board. In the 2024 financial year, the PCC Group generated consolidated revenue of €960.0 million and consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) of €88.0 million. The investment volume in 2024 amounted to €126.5 million. Further information about PCC can be found at https://www.pcc.eu.

(end)

Emitter:	PCC SE Moerser Straße 149 47198 Duisburg Germany
Contact Person:	Susanne Biskamp, PCC Head of Marketing, Media, Direktinvest
Phone:	+49 2066 2019-35
E-Mail:	pr@pcc.eu
Website:	www.pcc.eu
ISIN(s):	DE000A4DFMA8 (Bond) DE000A4DFWY7 (Bond)
Stock Exchange(s):	Free Market in Frankfurt