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Ansprechpartner: Susanne Biskamp, PCC Head of Marketing & PR
Tel.: +49 2066 2019-35
E-Mail: susanne.biskamp@pcc.eu

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pta20201120020
Business news for the stock market

PCC SE: PCC reports steady sales and earnings performance in the third quarter of 2020, despite coronavirus

PCC´s Chemicals division exceeds profit expectations set before advent of the coronavirus pandemic


Duisburg (Germany) (pta020/20.11.2020/13:53) - In the third quarter of 2020, the Duisburg-based holding company PCC SE generated consolidated sales and gross profit below prior-year levels but flat versus Q2-2020. Consolidated earnings before interest and other financial items, taxes, depreciation and amortization (EBITDA) and operating profit (EBIT) were significantly higher than in the preceding quarter after adjusting for an exceptional gain. This also applies to earnings before taxes (EBT), although this metric continued to show a deficit.

"In the chemicals sector, prices have come under heavy pressure not only on the sales side but also on the purchasing side due to the general economic weakness prevailing. As a consequence, the Chemicals division of the PCC Group failed to meet its sales expectations, yet on the earnings side it exceeded the results of the two preceding quarters and also our targets set before the outbreak of the coronavirus pandemic," commented Ulrike Warnecke, Managing Director of PCC SE. The utilization of production capacities within the Chemicals division remained at a high level overall in the third quarter, and the intermodal transport business of the Logistics division also continued to grow significantly.

At 167.6 million euros, the PCC Group generated quarterly sales matching the level of the preceding quarter. Cumulative consolidated sales for the first nine months amounted to 536.5 million euros, down 8.0 percent on the same period of the previous year, mainly due to the sharp drop in price levels for chemical commodities. As in the preceding quarter, however, this decline in prices had a positive effect on the purchasing side. Quarterly gross profit came in once again at 51.9 million euros. Accumulated as of September 30, PCC generated gross profit amounting to 157.5 million euros (2019: 191.9 million euros).

EBITDA in the third quarter amounted to 19.9 million euros and was thus slightly lower than in the preceding quarter. However, PCC received compensation payments in the second quarter as a result of settlement negotiations conducted with a plant constructor. Adjusted for this exceptional gain in the high single-digit million euros range, EBITDA rose significantly compared to the preceding quarter. Operating profit (EBIT) and earnings before taxes (EBT), likewise adjusted for this one-off gain, were also higher than in the previous quarter. EBIT in the third quarter amounted to 2.6 million euros. However, EBT for the third quarter showed a loss of 8.6 million euros, due partly to the weakening of the Polish złoty and the Russian ruble versus the euro.

The aforementioned Group financials as of the end of the quarter are unaudited.

Redemption of maturing bond

On October 1, 2020, PCC SE repaid on maturity the 5.00 % bond carrying the code ISIN DE000A162AP6, which was issued in October 2015. The redemption amount was 25.0 million euros.

The current quarterly report 3/2020 is available for downloading together with further information at https://www.pcc.eu/en/pcc-reports-steady-sales-and-earnings-performance-in-the-third-quarter-of-2020-despite-coronavirus/. PCC news covering current business developments can be found at https://www.pcc.eu/news/.

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 767.5 million euros in fiscal 2019, with its capital expenditures totaling 163.5 million euros.

For further information, go to: https://www.pcc.eu/en/

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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
stock exchanges: open market (free market) in Frankfurt
ISIN(s): DE000A2YPFD5 (bond), DE000A3H2VT6 (bond), DE000A3H2VU4 (bond)
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