PCC Rokita Group with record results in H1

In H1, the PCC Rokita Group generated record results. The consolidated EBITDA profit reached over PLN 295 million, beating last year’s result by over 127%. In turn, the Group’s net profit reached its highest historical level of nearly PLN 160 million, an increase by nearly 430% compared to H1 2020. The Group also generated higher results in this year’s Q2 compared to Q1.

“The conditions on the polyurethane market have been particularly favourable in recent months”, says Wiesław Klimkowski, President of the Company’s Management Board.“Strong demand, high polyol prices, supply constraints from competitors and a high volume of orders in the furniture section have resulted in polyol profitability reaching record levels”, he adds.

The EBITDA profit of the polyurethanes segment increased by nearly 500% compared to H1 2020, and external sales increased by nearly 90%. The Group reported record margins.

“Despite the currently noticeable decline in margins in the Polyurethane segment, they still remain at a high level”, says Rafał Zdon, Vice President of the Management Board of PCC Rokita. “Historically, the Other Chemicals segment has also generated the best results. We have also achieved significant increases in the Chlorine Derivatives segment”, he adds.

In the Chlorine Derivatives segment, EBITDA increased by over 22% compared to the corresponding period of 2020. The relatively good demand for the segment’s products has the potential to continue in the coming months, and alkali prices may remain the same or increase.

The Group’s record results were also supported by the results of the Other Chemicals segment. The EBITDA profit more than doubled compared to H1 2020, mainly due to high revenues and margins from the growing sales of specialist products. The current volume of orders is still high.

“The increases in sales in the Other Chemicals segment can be attributed to, among other things, the operation of the new installation”, says Rafał Zdon. “The new line is used to demonstrate the technology of obtaining innovative products. It has also increased our production capacity”, he says.

In this year’s H1, the use of the installation was gradually increasing. It is currently operating at a level close to its nominal potential.

“We are currently optimising our processes and eliminating bottlenecks”, says Wiesław Klimkowski. “This is why we do not exclude the possibility of increasing the production capacity of this installation, even beyond its originally assumed potential”, he adds.

At the same time, in H1 the Company continued investments in the construction of the Innovation and Process Scaling Centre, which make it possible to increase the current laboratory space almost three times. Infrastructure upgrading work was also mainly carried out.

PCC Rokita manufactures specialised chemical products and industrial formulations. It is one of the leading chemical companies in Poland and Europe. Since 2011, PCC Rokita has been issuing bonds introduced to trading on the regulated market of the Warsaw Stock Exchange – Catalyst. The company’s shares have been listed on the WSE since 2014. PCC Rokita is a company operating within the international PCC concern, headed by PCC Spółka Europejska with its seat in Duisburg. The PCC Group is expanding internationally in the Chemicals, Energy and Logistics divisions. It currently employs around 3,300 people in 18 countries.