EN
PLThe PCC Rokita Group ended Q3 2021 with record results. Increases were noted in all production segments.
Cumulatively for the three quarters, the Group’s consolidated EBITDA was at a record level of over PLN 437 million, up by over 111% compared to the same three quarters of the previous year. The Group’s net profit also reached its historically highest value of over PLN 236 million, up by nearly 300%. The results of the third quarter of this year alone were also higher than in the third quarter of the last year. The Group’s EBITDA profit increased by 83%, and the consolidated net profit was higher by nearly 162%.
“Such good results are mainly due to the activities of the Polyurethanes segment”, says Wiesław Klimkowski, President of the Management Board of PCC Rokita. “The very high demand for polyols and the high prices of the products caused the profitability of polyols to reach record levels”, he adds.
The high prices of polyols were also compounded by the limited availability of products on the market. At present, it is still noticeable that the sales volume of the Polyurethanes segment remains high, despite a slight weakening in demand, particularly in Western Europe. There are indications that this situation will continue at least until the end of the year.
“For the three quarters, we have generated both a record-breaking consolidated EBITDA of over PLN 437 million and the highest ever net profit of over PLN 236 million”, says Rafał Zdon, Vice President of the Management Board of the Company. “The Polyurethane segment alone achieved an EBITDA profit of over PLN 283 million, an increase of 420% compared to the same three quarters of last year. Sales of the Polyurethanes segment increased by nearly 90% and the EBITDA margin reached a record value of nearly 30%”, adds Rafał Zdon.
Currently, margins on polyols are declining, which is likely to continue in the near future. Nevertheless, the margins still remain at a very high level.
The Chlorine Derivatives segment has also recorded an increase, mainly due to the intensification of sales and a higher sales volume of chlorine derivatives. The segment’s EBITDA profit reached nearly PLN 99 million and increased by over 6% in the three quarters compared to the corresponding period of 2020. This was possible despite further decreases in the prices of chloralkali. Currently, there is a significant increase in their prices, in particular caustic soda, and relatively good demand for the segment’s products. This situation may potentially persist in the coming months.
The excellent results of the PCC Rokita Group were also supported by the Other Chemical Activities segment, which generated an EBITDA increase of over 270% in the three quarters compared to the corresponding period of 2020, reaching a record value of over PLN 39 million. The segment has also generated high revenues and margins. These increases are a consequence of the growing sales of specialised products and the continued favourable market situation in the phosphorus derivatives industry. Moreover, the achievement of such good results of the segment was also influenced by the higher production capacity of the new installation, which is currently operating at most of its nominal potential.
During the presented period, the Company continued to invest in the construction of the Process Innovation and Scaling Centre, which will enable the current laboratory space to be increased almost threefold. 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.
