The sales and earnings performance of the PCC Group weakened significantly in the second quarter of 2023 due to cyclical headwinds. Q2 revenues of the PCC Group fell by almost a quarter to € 236.2 million year on year, while half-year sales declined by 17.8% to € 548.9 million. PCC’s half-year EBITDA stood at €67.9 million, with operating profit (EBIT) coming in at €29.6 million.
“One of the main causes of the downward trend was declining demand from many industrial sectors as a result of the weaker economic environment,” explains Ulrike Warnecke, member of the Executive Board of PCC SE. “In addition, high inventory levels among many of our customers led to significant purchasing restraint. The situation has been exacerbated by persistently high levels of competition from China, as a result of which selling prices in Europe – our main sales market – have come under increasing pressure.” The Silicon & Derivatives segment was particularly affected by this trend in the period under review. Also impacted by the downturn were the three chemicals-producing segments Polyols & Derivatives, Surfactants & Derivatives and Chlorine & Derivatives. “As was European industry as a whole,” Warnecke added.
The aforementioned Group financials are unaudited. They are currently undergoing a review by the auditors and will be published on our website,
www.pcc-financialdata.eu / www.pcc-finanzinformationen.eu,
in the course of September 2023.
Detailed information on PCC’s business performance in the second quarter can be found in the PCC Group Quarterly Report 2/2023. Go here for a PDF download.
