{"id":5055,"date":"2025-04-23T09:57:36","date_gmt":"2025-04-23T07:57:36","guid":{"rendered":"https:\/\/geschaeftsbericht-2024.pcc.eu\/information-for-our-investorsto-the-investors\/letter-from-the-ceo\/"},"modified":"2026-06-22T08:57:41","modified_gmt":"2026-06-22T06:57:41","slug":"letter-from-the-ceo","status":"publish","type":"page","link":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/information-for-our-investors\/letter-from-the-ceo\/","title":{"rendered":"Letter from the CEO"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\tLadies and Gentlemen,<\/strong>
<\/br>\n\nFiscal 2025 saw us take a number of strategic decisions and follow through with the implementation of a range of projects aligned to strengthening the resilience of our group of companies. Investments are already paying off, particularly in the surfactants and chlorine businesses, with further investment plans \u2013 such as in our successful logistics business \u2013 laying the foundation for continued growth at our current sites.A key decision to improve the Group\u2019s future earnings was the provisional shutdown of our silicon metal production plant in Iceland in mid-2025. After years of declining prices, we are currently unableto operate this facility economically. The exceptional impairment of this plant in the amount of \u20ac 109.8 million had a significant negative impact on our consolidated earnings result. However, EBITDA came in at \u20ac 81.4 million, only 7.5 % below the previous year, with sales slightly down at \u20ac 923.6 million.Overall, we were in line with market trends and held our ground in an exceptionally challenging environment, thanks to our innovations, excellent service, and an increasing focus on individual, customer-specific applications.
<\/br>\n\nThe 2025 fiscal year once again brought significant challenges for companies worldwide, especially in European industries. While the war in Ukraine continued with unabated intensity, geopolitical uncertainty increased further due to escalating conflicts in the Middle East. Economic growth was generally subdued. Europe experienced its third consecutive year of crisis, with the chemical industry \u2013 particularly the shrinking base chemicals sector \u2013 and manufacturing, traditionally the engines of Europe\u2019s national economies, at a cyclical low point.Additional burdens came from persistently high energy and raw material costs, as well as regulatory requirements. These competitive disadvantages were exacerbated by market distortions such as aggressive subsidy and expansion policies, particularly in China, increasing our dependence on imports of many critical goods. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Our oxyalkylate production plant in Malaysia, commissioned in 2024, reported increased capacity utilization last year.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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We aim to strengthen our position as a leading provider of intermodal container transport in Poland through investments in new terminals.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\n\t\t\t\t\t\t\t\t\tIn the face of these challenges, Europe must not retreat but instead build on its strengths: social and economic freedom, celebrated cultural diversity, and the resulting high levels of creativity and innovation. And we should not forget: despite all crises, the standard of living in Europe today is 30 % higher than at the turn of the millennium, life expectancy has increased by an average of three years, and consumer purchasing power continues to grow. At PCC, we believe in Europe.
<\/br>\n\nHowever, adjustments to economic policy frameworks in Germany and Europe are urgently needed to restore the competitiveness of key industries vital to our economic security such as the chemicals sector. We need consistent protection against dumping, a reduction in excessive bureaucracy, and relief from cost disadvantages \u2013 particularly in relation to energy and raw materials.
<\/br>\nAs a Group, we are not waiting passively for such a shift, but are taking action. The commissioning of two new chlor-alkali electrolysis units at our largest production site in Brzeg Dolny, Poland, enables us to operate flexibly and take advantage of electricity price fluctuations. This in turn allows us to optimize operations both in terms of margins and sustainability, as we can now use an even higher share of electricity from renewable sources.In the Surfactants & Derivatives segment \u2013 which achieved double-digit revenue growth and a significant increase in earnings in 2025 \u2013 the commissioning of a new ethoxylation plant in P\u0142ock, Poland, also delivered rapid returns. This facility enables us to further diversify our product portfolio and develop new applications. Another example is our Oberhausen-based company in Germany, PolyU GmbH, which delivered outstanding performance with its customized specialty polyol-based products. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tThe new R&D center for PCC\u2019s chemical-producing segments at our major production site in Poland\u2019s Brzeg Dolny has further enhanced our innovative strength.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\t“Our strong commitment to positioning the Group for the future is reflected in the again significantly increased investment volume of \u20ac173.8 million recorded in 2025.\u201c\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tDr. Peter Wenzel<\/strong>\nChairman of the Executive Board of PCC SE\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\n\t\t\t\t\t\t\t\t\tSome of our standard products, particularly in the Polyols & Derivatives segment, were, however, under significant pressure last year, mainly due to massive low-cost exports from China and other Asian countries. This also affected our new alkoxylation plant in Malaysia, which we operate together with PETRONAS Chemicals Group and which began operations in 2024, as well as our silicon metal plant in Iceland, which \u2013 as mentioned \u2013 has been struggling with sustained price declines for years.In Malaysia, we increased capacity utilization in 2025, and the process improvements initiated are already showing clear results at the beginning of 2026. In Iceland, however, we were only able to stop the cash drain by temporarily shutting down operations.
<\/br>\n\nOur strong commitment to positioning the Group for the future, despite this mixed performance, is reflected in the again significantly increased investment volume of \u20ac 173.8 million recorded in 2025, with projects primarily in the Chlorine & Derivatives, Surfactants & Derivatives, and Logistics segments.Highlights of our current projects include plans for two new container terminals in Poland \u2013 one near the coast and another in the southeast of the country. In 2025, we secured EU subsidies covering nearly half of the planned capex for the latter, with construction scheduled to begin this year. This will further strengthen our strong position in the Polish and international intermodal transport business.
<\/br>\n\nThe clear purpose of our activities and investments is to enhance economic resilience, with the focus on continuous cost and performance optimization in our core businesses. Expansion investments at our Polish sites \u2013 such as those implemented in 2025 in the chlorine and surfactants businesses and currently ongoing \u2013 create economies of scale and strengthen our competitive position. In non-core areas, we are consistently focused on cost reduction, including measures such as the temporary shutdown of the Icelandic facility.
<\/br>\n\nWe are increasingly aligning our organizational structure to customized applications. By implementing individual customer requirements, we can gradually increase the share of higher value-added products in our portfolio, thereby reducing our exposure to fluctuations in energy and raw material prices. Across nearly all business areas, we are also increasingly leveraging artificial intelligence to improve efficiency and performance.
<\/br>\n\nMy colleagues on the Executive Board of PCC SE and I have full confidence in the innovative strength, expertise, and commitment of our employees and leadership teams across our affiliates. With a clear focus on costs and cash flow, we remain optimistic about the future \u2013 even in these challenging and crisis-ridden times. We will continue to seize opportunities through decisive action, maintain our conservative risk management, advance sustainability in our operations, and collaborate reliably with all our partners.
<\/br>\n\nOn behalf of the Executive Board of PCC SE, I would like to express our heartfelt gratitude to you \u2013 our valued investors and business partners \u2013 for the trust you have placed in us. I would also like to thank our employees for their extraordinary com-mitment, and I look forward to achieving further success together with all of you. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tSincerely,Peter Wenzel<\/strong>Chief Executive Officer of PCC SE\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Ladies and Gentlemen, Fiscal 2025 saw us take a number of strategic decisions and follow through with the implementation of a range of projects aligned to strengthening the resilience of our group of companies. Investments are already paying off, particularly in the surfactants and chlorine businesses, with further investment plans \u2013 such as in our […]<\/p>\n","protected":false},"author":4,"featured_media":6446,"parent":5053,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-5055","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/comments?post=5055"}],"version-history":[{"count":16,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5055\/revisions"}],"predecessor-version":[{"id":6842,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5055\/revisions\/6842"}],"up":[{"embeddable":true,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/media\/6446"}],"wp:attachment":[{"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/media?parent=5055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}