PCC SE: PCC reports decline in earnings in first half year, with slight increase in consolidated sales

PCC Group increases half-year revenue by 0.6 % to € 487.7 million, EBITDA down 30.8 %

Duisburg (pta024/22.08.2025/14:52 UTC+2)

Duisburg-based investment holding company PCC SE increased its sales and gross profit in the first half of 2025 despite a challenging market environment. However, higher fixed costs, interest expenses, and exchange rate losses led to a further decline in earnings.

Group revenue declined by 2.7 % year on year to € 236.5 million in the second quarter. In the first half of the year, however, sales rose by 0.6 % to € 487.7 million, mainly as a result of volume growth in the Surfactants & Derivatives and Logistics segments. In the other segments, ongoing price competition burdened sales, particularly in the Silicon & Derivatives segment.

Gross profit rose by 10.2 % to € 77.5 million in the second quarter, increasing gross margin to 32.7 %. Cumulative gross profit for the first half year amounted to € 156.1 million, an increase of 7.1 %, with gross margin rising to 32.0 %.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to € 14.0 million in the second quarter, down 42.4 % year on year but up 4.4 % on the previous quarter. Cumulative EBITDA for the first half of the year amounted to € 27.3 million, significantly below the € 39.5 million reported in the previous year. Among other factors, the sharp rise in personnel and service costs had a significant impact here. At the segment level, Surfactants & Derivatives, Trading & Services and Logistics each posted an increase in EBITDA, while the other segments recorded declines in earnings, particularly Chlorine & Derivatives.

"As a result, overall performance at the Group level was unsatisfactory. As in previous quarters, some of our activities were impacted by competition on terms that in some cases can be classed as unfair, for example in relation to imports from China, with the situation compounded by the continuing economic weakness in Germany and the EU, our main sales markets," commented Riccardo Koppe, member of the Executive Board and Chief Financial Officer of PCC SE. "A weak investment environment and subdued consumer spending continued to weigh on the European economy, while ongoing geopolitical uncertainties and the complex tariffs policy of the USA led to additional caution."

Development by Individual Group segment

The Surfactants & Derivatives segment continued to perform well in the second quarter. The segment's largest business unit, the Polish manufacturer of ionic and non-ionic surfactants, succeeded in increasing sales volumes by expanding capacity. As a result, segment sales rose by 16.9 % in the second quarter and by 19.7 % in the first half of the year. Segment EBITDA rose to € 12.7 million in the first half year, up from € 11.6 million in the previous year. The Logistics segment also performed well. Intermodal container logistics, the segment's dominant business area, increased both sales and EBITDA in the first half year, thereby consolidating its market leadership in its home market of Poland.

Sales in the Polyols & Derivatives segment declined in the second quarter; although EBITDA doubled compared to the previous quarter, it fell year on year due to the challenging competitive environment. Sales also declined in the Chlorine & Derivatives segment, with higher raw material and energy costs reducing earnings. By contrast, the Trading & Services segment increased both sales and earnings.

The Silicon & Derivatives segment continued to operate only one of its two furnaces in the second quarter, with sales declining by 34.9 % year on year as a result. The plant has been temporarily shut down since July 20, 2025, due to the difficult market environment, in particular the persistence of imports at dumping prices, primarily from China. Our goal remains to restart production. To this end, we are supporting efforts to introduce EU safeguards for silicon metal in order to prevent damage to the local industry from a possible end to silicon production in Europe.

In the Holding & Projects segment, the focus remained on expanding the core chemical business in the USA. We are currently investigating the possibility of constructing a chlor-alkali plant at the site of US chemical company Chemours in DeLisle, Mississippi, and have signed a long-term offtake agreement with Chemours for chlorine supplies. We made progress on the engineering and financing side of this potential project in the second quarter, and the US authorities granted a preliminary construction permit in June.

Repayment of maturing bonds

Effective April 1, 2025, PCC SE redeemed the 3.00 % bond ISIN DE000A3MQEM0 issued in 2021 (repayment volume: € 7.8 million). And on July 1, the 4.00 % bond ISIN DE000A2YPFY1 issued in 2019 was redeemed on maturity. The repayment volume amounted to € 23.8 million.

The consolidated figures stated are unaudited. The quarterly report is available online at www.pcc-financialdata.eu / www.pcc-finanzinformationen.eu

Brief profile of PCC SE

PCC SE, headquartered in Duisburg, Germany, is the holding company of the globally active PCC Group, which employs around 3,300 people. Its group companies have core competencies in the production of chemical raw materials, specialty chemicals and in container logistics. As a long-term investor, PCC SE focuses on continuously increasing the value of its affiliate companies through sustainable investments and consistently creating new value. The largest chemical producers in 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 the most advanced surfactant producers in Europe. PCC was founded in 1993 by Waldemar Preussner, sole shareholder of PCC SE, who is now Chairman of the Supervisory Board. In fiscal 2024, the PCC Group generated consolidated sales of 960.0 million euros and consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) of 88.0 million euros. Capital expenditure in 2024 amounted to 126.5 million euros. Further information about PCC can be found at 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, Media, Direktinvest
Phone:	+49 2066 2019-35
E-Mail:	pr@pcc.eu
Website:	www.pcc.eu
ISIN(s):	DE000A4DFHU6 (Bond) DE000A4DFMA8 (Bond)
Stock Exchange(s):	Free Market in Frankfurt