PCC SE

PCC posts significant increase in consolidated sales and earnings for 2018

Business news for the stock market

Duisburg (pta020/25.03.2019/10:58) - The Duisburg-based holding company PCC SE significantly increased consolidated sales and net income in the 2018 fiscal year. With around 3,500 employees in 18 countries, the PCC Group managed by PCC SE generated sales of EUR 781.3 million in 2018, representing an increase of 14.4 % versus prior year. Consolidated earnings before interest and other financial items, taxes, depreciation and amortization (EBITDA) rose by 33.8 % to EUR 98.8 million, while earnings before taxes (EBT) almost tripled to EUR 40.1 million. "The main reason for this growth lay in an increase in sales volumes with commodity price levels remaining at a high level," explains Ulrike Warnecke, Managing Director of PCC SE. "The Chemicals segments Chlorine and Surfactants, together with the business units Commodity Trading and Intermodal Transport, were particularly instrumental in this development." Taken as a whole, the Chemicals division - by far PCC's largest - significantly exceeded expectations in terms of both revenues and earnings.

"The fourth quarter saw a continuation of the positive performance of the previous months at the majority of PCC SE's affiliates," comments Warnecke. Although the quarterly sales figure of EUR 190.6 million fell short of the record level for the previous quarter of EUR 203.3 million, revenues nevertheless remained at a high level. This also applies to EBITDA, which amounted to EUR 21.2 million in the fourth quarter.

The disclosures made herein represent preliminary figures for the consolidated financial statements. The final, audited financial data will be published on our website https://www.pcc.eu, and specifically under http://www.pcc-financialdata.eu, in the second quarter of 2019 once the consolidated financial statements have been approved and certified.

Group segment highlights

As the biggest contributor to PCC's revenues and earnings by far, the Chemicals division with its five segments Polyols, Surfactants, Chlorine, Specialty Chemicals and Consumer Products posted sales in the fourth quarter of 2018 amounting to EUR 161.4 million. As of year-end, divisional sales thus amounted to EUR 670.6, an increase of 14.1 % versus prior year. Sales overall were thus also higher than expected. On the earnings side, too, the corresponding figures for the previous year and our expectations for 2018 were again significantly exceeded.