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PLPCC Rokita Group delivered outstanding results in the first quarter of this year. Such good performance was driven by all of the Group’s production segments, including in particular Chlorine Derivatives.
Its consolidated EBITDA reached an exceptionally high level of PLN 204 million, 50% more than in the first quarter of the previous year. The Group’ s net profit was also very high, nearly PLN 124 million, an increase of more than 78% compared to the first quarter of 2021.
Such good performance is mainly attributable to the results of the Chlorine Derivatives segment. The EBITDA of this segment was 278% higher than in the corresponding period of 2021, says Wiesław Klimkowski, CEO of PCC Rokita. These results were driven by record prices for soda lye and caustic soda, he adds.
The average price of soda lye was 88% higher compared to the first quarter of the previous year and the average increase in caustic soda prices was 130%. The prices of chlor-alkali products are still rising. The good results were also influenced by the fact that the vast majority of electricity demand was contracted in advance.
In the Polyurethanes segment, the first quarter of 2022 was a successful period despite a 27% decline in EBITDA compared to the very high comparative base of the corresponding period of 2021. Polyol prices have held at a relatively high level. Also, the prices of the main raw materials, propylene and ethylene, and utilities have continued to rise since February this year.
In the first quarter of 2022, the Other Chemicals segment achieved record sales and margins. EBITDA increased by 106% compared to the first quarter of 2021.
Regarding investments, the Group is working on the construction of a new universal plant in Brzeg Dolny. The investment is run by PCC BD, whose partners are PCC Rokita and PCC EXOL. The new plant will produce a wide range of products including ethoxylates and polyether polyols, with multiple applications in a number of industries. Products from this facility are expected to have lower VOC emissions, shorter and low-waste production process and, in some cases, reduced carbon footprint.
Moreover, the Company is carrying out a trial run on the hydrogen-gas boiler plant built last year, where excess hydrogen produced in the Chlorine Derivatives segment can be utilised as fuel. The investment is intended to reduce the use of coal and lower CO2 emissions.
Despite many market changes and high uncertainty related to the current geopolitical situation, all of the Group’s production segments generated very good levels of turnover and financial results, comments Rafał Zdon, Vice-President of the Management Board. Currently, we have a very good situation in the Chlorine Derivatives segment, where product prices continue to increase, and in the Polyurethanes segment we are still observing relatively high product prices. In the Other Chemicals segment, we are strengthening our market position, thanks to modern and specialised solutions, he adds.
PCC Rokita focuses on its PCC Greenline® products. The company produces, i.a., green chlorine and soda lye based on environmentally friendly membrane technology and, thanks to RES, the energy consumed in this process is “green”.
PCC Rokita continues to explore potential growth opportunities to secure its energy needs in the coming years. These considerations include, i.a., such solutions as investing in own renewable energy sources.
Moreover, in March this year PCC Rokita adopted assumptions for the 2022-2050 Decarbonisation Strategy, which is consistent with the objectives of the European Union’s climate policy. The Company’s objectives focus on decarbonising the electricity it consumes in such a way as to run an environmentally sustainable business. PCC Rokita has been investing intensively in improving energy efficiency for many years.
PCC Rokita is a manufacturer of specialised chemicals and industrial formulations. It is one of the leading chemical companies in Poland and in Europe. Since 2011, PCC Rokita has been issuing bonds traded on the WSE regulated market – Catalyst. Since 2014, the company’s shares have been listed on the WSE. PCC Rokita is a company operating within the international PCC concern headed by PCC SE with its head office in Duisburg. The PCC Group is expanding internationally in the Chemicals, Energy and Logistics divisions and currently employs around 3,300 people in 18 countries.
