{"id":5396,"date":"2025-05-07T09:30:21","date_gmt":"2025-05-07T07:30:21","guid":{"rendered":"https:\/\/geschaeftsbericht-2024.pcc.eu\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/notes-to-individual-items-of-the-consolidated-balance-sheet\/"},"modified":"2026-06-24T09:30:23","modified_gmt":"2026-06-24T07:30:23","slug":"notes-to-individual-items-of-the-consolidated-balance-sheet","status":"publish","type":"page","link":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/notes-to-individual-items-of-the-consolidated-balance-sheet\/","title":{"rendered":"Notes on individual items of the consolidated balance sheet"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"5396\" class=\"elementor elementor-5396 elementor-916\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-501679b e-flex e-con-boxed e-con e-parent\" data-id=\"501679b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a29fb6d elementor-widget elementor-widget-menu-anchor\" data-id=\"a29fb6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"19-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7ae2831 elementor-widget elementor-widget-heading\" data-id=\"7ae2831\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">(19) Intangible assets<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7037b35 elementor-widget elementor-widget-text-editor\" data-id=\"7037b35\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIntangible assets include industrial property rights, licenses and similar rights, goodwill, internally generated and developed assets, and advance payments on intangible assets. The net carrying amounts decreased from \u20ac 53.0 million in the previous year to \u20ac 51.1 million as at December 31, 2025. \n<\/p>\nNo impairment losses were recognized in the reporting year (previous year: \u20ac 0.1 million). As of the reporting date, there were restricted rights of disposal on intangible assets amounting to \u20ac 1.1 million (previous year: \u20ac 0.6 million). There were no commitments to invest in intangible assets attributable to investments that have already been contractually agreed upon but not yet completed (previous year: \u20ac 0.2 million).  \n<\/p>\nExploration and production activities are carried out in one subsidiary. The net carrying amount of this item included in intangible assets amounted to \u20ac 0.1 million as at the reporting date (previous year: \u20ac 0.1 million). There were no exploration activities in the year under review. This activity is not material for the PCC Group and is therefore not presented separately in the reconciliation statement.   \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3b1392 elementor-widget elementor-widget-spacer\" data-id=\"c3b1392\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aa0ff43 e-con-full e-flex e-con e-child\" data-id=\"aa0ff43\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-58e13a4 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"58e13a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_29.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-58e13a4 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-58e13a4 canvas {\n                display: 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UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        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class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_30.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-fbd75a1 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-fbd75a1 canvas {\n                display: inline-block;\n            }\n            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document.getElementById(\"pdf-container-fbd75a1\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_30.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        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recognized as goodwill in the consolidated balance sheet. This goodwill is not subject to amortization but is tested for impairment at least once a year in accordance with IFRS 3. \n<\/p>\nThe presentation shows all goodwill existing in the Group as at December 31, 2025. This also includes the goodwill of the US company PCC Chemax, Inc., Piedmont (South Carolina), which was transferred from the separate financial statements. As in the previous year, there were neither additions nor impairments in the year under review. The change in the goodwill of PCC Chemax, Inc. results from a currency translation effect, as the goodwill is carried in the currency of the cash-generating unit of the company, i.e. US dollars. Annual impairment testing was carried out in the fourth quarter of the fiscal year, using the management approved forecasts for the following three years. These forecasts were extrapolated for an additional two years using standardized growth assumptions, resulting in the terminal value being derived from year five.<br\/><br\/>The recoverable amount was determined on the basis of value-in-use. As in the previous year, the growth rate assumed was 1.0 %. The budget assumptions derive from empirical values and estimates of the various business managements, taking into account centrally defined global positions such as exchange rates, estimates of economic development, market growth or commodity prices, for which purpose external sources were also consulted. The local tax rates assumed were 19.0 % for the Polish cash-generating units and 23.6 % for the US cash-generating unit. The tax rates were unchanged from the previous year. As in the previous year, the cost of capital was calculated on a region-specific basis. This was 9.11 % for Poland (previous year: 9.19 %) and 8.41 % for the USA (previous year: 8.34 %). Even taking into account a change in the weighted average cost of capital (WACC) of 10 %, there would be no write-down requirement.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a823c3b elementor-widget elementor-widget-spacer\" data-id=\"a823c3b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f2be581 e-con-full e-flex e-con e-child\" data-id=\"f2be581\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-20dcc32 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"20dcc32\" data-element_type=\"widget\" data-e-type=\"widget\" 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{\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            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data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_33.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-f8e29f8 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-f8e29f8 canvas {\n                display: 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document.getElementById(\"pdf-container-f8e29f8\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_33.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d6da773 elementor-widget elementor-widget-spacer\" data-id=\"d6da773\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4010d0b elementor-widget elementor-widget-text-editor\" data-id=\"4010d0b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe net carrying amount of property, plant and equipment decreased from \u20ac 1,044.6 million in the previous year to \u20ac 976.1 million as of December 31, 2025. This is primarily attributable to impairment charges related to the silicon metal plant in Iceland. Additions to property, plant and equipment amounted to \u20ac 140.4 million in fiscal 2025 (previous year: \u20ac 101.5 million). The investments were primarily distributed across the Trading &#038; Services, Chlorine &#038; Derivatives, and Logistics segments, as well as project developments in the Holding &#038; Projects segment. Further replacement investments were also implemented. Additions to depreciation on property, plant and equipment amounted to \u20ac 62.9 million in the past fiscal year (previous year: \u20ac 64.3 million). Impairments of property, plant and equipment amounted to \u20ac 116.2 million (previous year: \u20ac 2.1 million) and primarily relate to the aforementioned silicon metal plant in the Silicon &#038; Derivatives segment, the closure of the monochlorobenzene plant in the Chlorine &#038; Derivatives segment and the shutdown of minor facilities in the Polyols &#038; Derivatives segment. Reversals of impairment losses were not material in either the reporting year or the previous year.       \n<\/p>\nAs of the 2025 reporting date, there were restrictions on the right to dispose of certain items of property, plant and equipment amounting to \u20ac 524.2 million (previous year: \u20ac 545.4 million). In addition, these assets serve as collateral for liabilities. As of December 31, 2025, there were total capital commitments of \u20ac 25.0 million (previous year: \u20ac 55.2 million), attributable to investments that had already been contractually agreed upon but not yet completed. Furthermore, \u20ac 0.5 million (previous year: \u20ac 0.3 million) in insurance indemnities was received during the reporting year, attributable to property, plant and equipment.  \n\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<div class=\"elementor-element elementor-element-057ac24 e-flex e-con-boxed e-con e-parent\" data-id=\"057ac24\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a9c751a elementor-widget elementor-widget-menu-anchor\" data-id=\"a9c751a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"21-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b82410 elementor-widget elementor-widget-heading\" data-id=\"2b82410\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(21) Right-of-use assets<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04450b1 elementor-widget elementor-widget-spacer\" data-id=\"04450b1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-71cfca3 e-con-full e-flex e-con e-child\" data-id=\"71cfca3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-de61fab elementor-widget elementor-widget-pdf_table_widget\" data-id=\"de61fab\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_34.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-de61fab {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-de61fab canvas {\n                display: inline-block;\n            }\n            #pdf-container-de61fab:active {\n                cursor: grabbing;\n            }\n            #pdf-container-de61fab::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-de61fab::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-de61fab::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-de61fab\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-de61fab\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_34.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e000d9 elementor-widget elementor-widget-spacer\" data-id=\"3e000d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46baa54 elementor-widget elementor-widget-text-editor\" data-id=\"46baa54\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tWithin the PCC Group, leases exist particularly in the areas of developed and undeveloped land, buildings, plant and machinery, factory and office equipment, and vehicle fleets. Extension and termination options are agreed in some cases to ensure flexibility. When determining the term of the lease, all circumstances and facts are considered which, based on the current state of knowledge, have an influence on the exercise of a renewal or extension option or the non-exercise of a termination option. In determining lease liabilities and corresponding right-of-use assets, all sufficiently assured cash outflows are taken into account. The net carrying amounts of the right-of-use assets, totaling \u20ac 94.0 million (previous year: \u20ac 89.1 million), are broken down by type of underlying asset as of the reporting date as follows:    \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e357fe elementor-widget elementor-widget-spacer\" data-id=\"6e357fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5145ea3 e-con-full e-flex e-con e-child\" data-id=\"5145ea3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a7d92df elementor-widget elementor-widget-pdf_table_widget\" data-id=\"a7d92df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_35.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-a7d92df {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-a7d92df canvas {\n                display: inline-block;\n            }\n            #pdf-container-a7d92df:active {\n                cursor: grabbing;\n            }\n            #pdf-container-a7d92df::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-a7d92df::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-a7d92df::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-a7d92df\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-a7d92df\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_35.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec03bdd elementor-widget elementor-widget-spacer\" data-id=\"ec03bdd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ae9c2ab elementor-widget elementor-widget-text-editor\" data-id=\"ae9c2ab\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe underlying contractual terms for leases on land and buildings range from one to 27 years. Plant and machinery are leased for between one and five years, and other facilities, factory and office equipment, including our vehicle fleet, for between one and six years. Classified by underlying asset type, the depreciation expenses totaling \u20ac 18.3 million (previous year: \u20ac 17.1 million) on right-of-use assets in fiscal 2025 break down as follows:  \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46d729f elementor-widget elementor-widget-spacer\" data-id=\"46d729f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f381611 e-con-full e-flex e-con e-child\" data-id=\"f381611\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-642c04f elementor-widget elementor-widget-pdf_table_widget\" data-id=\"642c04f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_36.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-642c04f {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-642c04f canvas {\n                display: inline-block;\n            }\n            #pdf-container-642c04f:active {\n                cursor: grabbing;\n            }\n            #pdf-container-642c04f::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-642c04f::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-642c04f::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-642c04f\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-642c04f\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_36.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \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<div class=\"elementor-element elementor-element-487eee0 e-flex e-con-boxed e-con e-parent\" data-id=\"487eee0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2f9d217 elementor-widget elementor-widget-menu-anchor\" data-id=\"2f9d217\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"22-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92fdd7e elementor-widget elementor-widget-heading\" data-id=\"92fdd7e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(22) Non-current financial assets<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b67c870 elementor-widget elementor-widget-text-editor\" data-id=\"b67c870\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tNon-current financial assets include shares in affiliated companies that are not consolidated for reasons of materiality, investments in other entities, and securities held as financial assets. Also reported under this item are positive fair values of derivative financial instruments. As of the reporting date, non-current financial assets totaled \u20ac 12.6 million (previous year: also \u20ac 12.6 million) and consisted primarily of \u20ac 8.8 million (previous year: \u20ac 8.5 million) in investments in non-consolidated affiliated companies and \u20ac 3.7 million (previous year: \u20ac 4.1 million) attributable to positive fair values of derivative financial instruments.  \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<div class=\"elementor-element elementor-element-a8847d4 e-flex e-con-boxed e-con e-parent\" data-id=\"a8847d4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c48b030 elementor-widget elementor-widget-menu-anchor\" data-id=\"c48b030\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"23-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dd53a76 elementor-widget elementor-widget-heading\" data-id=\"dd53a76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(23) Other non-current financial assets<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de1e4f8 elementor-widget elementor-widget-text-editor\" data-id=\"de1e4f8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tOther non-current financial assets include loans to affiliated companies that are not consolidated for materiality reasons, loans to joint ventures, and other loans. As of the reporting date, other non-current financial assets totaled \u20ac 14.7 million (previous year: \u20ac 15.3 million). This figure includes, in particular, loans to the joint venture OOO DME Aerosol in the amount of \u20ac 11.4 million (previous year: \u20ac 12.5 million).  \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<div class=\"elementor-element elementor-element-711488e e-flex e-con-boxed e-con e-parent\" data-id=\"711488e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c53ba8d elementor-widget elementor-widget-menu-anchor\" data-id=\"c53ba8d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"24-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5cedbbd elementor-widget elementor-widget-heading\" data-id=\"5cedbbd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(24) Inventories<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c35972 elementor-widget elementor-widget-text-editor\" data-id=\"0c35972\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tInventories decreased from \u20ac 121.8 million in the prior year to \u20ac 100.3 million as of December 31, 2025. The drop is primarily due to the provisional shutdown of silicon metal production in Iceland and the resulting reduction in inventory levels. In the reporting year, write-ups of previously impaired inventories totaling \u20ac 0.1 million were recorded due to improved marketability (previous year: \u20ac 0.9 million). Impairment losses amounted to \u20ac 1.5 million (previous year: \u20ac 1.2 million). In fiscal 2025, inventories totaling \u20ac 567.7 million (previous year: \u20ac 554.2 million) were expensed in the statement of income.    \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9a78df elementor-widget elementor-widget-spacer\" data-id=\"a9a78df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-da154e1 e-con-full e-flex e-con e-child\" data-id=\"da154e1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a726c80 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"a726c80\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_37.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-a726c80 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-a726c80 canvas {\n                display: inline-block;\n            }\n            #pdf-container-a726c80:active {\n                cursor: grabbing;\n            }\n            #pdf-container-a726c80::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-a726c80::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-a726c80::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-a726c80\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-a726c80\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_37.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \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<div class=\"elementor-element elementor-element-0f5d744 e-flex e-con-boxed e-con e-parent\" data-id=\"0f5d744\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6c2f1f6 elementor-widget elementor-widget-menu-anchor\" data-id=\"6c2f1f6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"25-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6458500 elementor-widget elementor-widget-heading\" data-id=\"6458500\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(25) Trade accounts receivable<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ad5c0a elementor-widget elementor-widget-text-editor\" data-id=\"5ad5c0a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tAs of the reporting date, all trade accounts receivable had a remaining term of up to one year. They were unchanged from the previous year and amounted to \u20ac 105.3 million. As in the previous year, the expected future losses calculated using the impairment model remained at a low level. Provisions for losses already incurred increased to \u20ac 2.6 million (previous year \u20ac 2.1 million).   \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-12fe885 elementor-widget elementor-widget-spacer\" data-id=\"12fe885\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-89ebfcb e-con-full e-flex e-con e-child\" data-id=\"89ebfcb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0ceb4a8 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"0ceb4a8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_38.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-0ceb4a8 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-0ceb4a8 canvas {\n                display: inline-block;\n            }\n            #pdf-container-0ceb4a8:active {\n                cursor: grabbing;\n            }\n            #pdf-container-0ceb4a8::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-0ceb4a8::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-0ceb4a8::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-0ceb4a8\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-0ceb4a8\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_38.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-03c6fc2 elementor-widget elementor-widget-spacer\" data-id=\"03c6fc2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3d2b27 elementor-widget elementor-widget-text-editor\" data-id=\"c3d2b27\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIn total, valuation allowances on trade accounts receivable amounting to \u20ac 2.7 million were recognized in both the reporting year and the previous year. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b6f4e10 elementor-widget elementor-widget-spacer\" data-id=\"b6f4e10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f650589 e-con-full e-flex e-con e-child\" data-id=\"f650589\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8f2d7a9 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"8f2d7a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_39.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-8f2d7a9 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-8f2d7a9 canvas {\n                display: inline-block;\n            }\n            #pdf-container-8f2d7a9:active {\n                cursor: grabbing;\n            }\n            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console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-098c42a elementor-widget elementor-widget-spacer\" data-id=\"098c42a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36655e9 elementor-widget elementor-widget-text-editor\" data-id=\"36655e9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe maturity structure of all non-impaired trade accounts receivable is shown in the adjacent table. As of December 31, 2025, approximately 90.7 % of the Group\u2019s receivables are neither impaired nor past due (previous year: 87.5 %). Also shown are the default risks and the level of expected credit losses (ECL) over the remaining term to maturity for each age group.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a432fb4 elementor-widget elementor-widget-spacer\" data-id=\"a432fb4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ec1c626 e-con-full e-flex e-con e-child\" data-id=\"ec1c626\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ed3f943 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"ed3f943\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_40.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-ed3f943 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-ed3f943 canvas {\n                display: inline-block;\n            }\n            #pdf-container-ed3f943:active {\n                cursor: grabbing;\n            }\n            #pdf-container-ed3f943::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-ed3f943::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-ed3f943::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-ed3f943\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-ed3f943\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_40.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38c5c32 elementor-widget elementor-widget-spacer\" data-id=\"38c5c32\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e4eec2 elementor-widget elementor-widget-text-editor\" data-id=\"2e4eec2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIndividual companies within the PCC Group use factoring as a means of financing receivables. The volume of all receivables sold as of the reporting date amounted to \u20ac 19.8 million (previous year: \u20ac 48.7 million).\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<div class=\"elementor-element elementor-element-8e7a44a e-flex e-con-boxed e-con e-parent\" data-id=\"8e7a44a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f8b7eb9 elementor-widget elementor-widget-menu-anchor\" data-id=\"f8b7eb9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"26-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c679416 elementor-widget elementor-widget-heading\" data-id=\"c679416\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(26) Other receivables and other assets<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d6828c elementor-widget elementor-widget-text-editor\" data-id=\"5d6828c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>As was the case in the previous year, accounts receivable from affiliated companies as of December 31, 2025 all had a remaining term of up to one year in their full amount. They comprise accounts receivable from non-consolidated affiliated companies. Further information is also provided in the section on related parties, see <a href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/other-disclosures\/#39-note\">Note (39)<\/a>. These are largely loan receivables from project companies. As of December 31, 2025, there were no impairment losses on receivables from affiliated companies (previous year: \u20ac 6.5 million).    <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0021e73 elementor-widget elementor-widget-spacer\" data-id=\"0021e73\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ea4f534 e-con-full e-flex e-con e-child\" data-id=\"ea4f534\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0d1f56a elementor-widget elementor-widget-pdf_table_widget\" data-id=\"0d1f56a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_41.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-0d1f56a {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-0d1f56a canvas {\n                display: inline-block;\n            }\n            #pdf-container-0d1f56a:active {\n                cursor: grabbing;\n            }\n            #pdf-container-0d1f56a::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-0d1f56a::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-0d1f56a::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-0d1f56a\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-0d1f56a\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_41.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); 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It is divided into 5,000,000 no-par-value bearer shares with a notional value of \u20ac 1 per share. Changes in Group equity are presented in the consolidated statement of changes in equity as part of these consolidated financial statements. The composition of retained earnings (revenue reserves) and other reserves as at December 31, 2025 is shown in the adjacent table.   \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f92d3f2 elementor-widget elementor-widget-spacer\" data-id=\"f92d3f2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-461e27e e-con-full e-flex e-con e-child\" data-id=\"461e27e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3fcf61b elementor-widget elementor-widget-pdf_table_widget\" data-id=\"3fcf61b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_42.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-3fcf61b {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-3fcf61b canvas {\n                display: inline-block;\n            }\n            #pdf-container-3fcf61b:active {\n                cursor: grabbing;\n            }\n            #pdf-container-3fcf61b::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-3fcf61b::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-3fcf61b::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-3fcf61b\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-3fcf61b\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_42.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7aa54a3 elementor-widget elementor-widget-spacer\" data-id=\"7aa54a3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75619c0 elementor-widget elementor-widget-text-editor\" data-id=\"75619c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Revenue reserves and other reserves comprise unappropriated earnings achieved in the reporting period by the subsidiaries included in the consolidated financial statements. The Group\u2019s share of the previous year\u2019s net result of \u20ac \u2013 23.3 million is reported as a loss carried forward to revenue reserves. In fiscal 2025, a distribution of \u20ac 1.65 million (previous year: \u20ac 5.5 million) was made to the shareholder of PCC SE from the retained earnings of PCC SE. This corresponds to a dividend per share of \u20ac 0.33 (previous year: \u20ac 1.10). Currency translation differences are reported in other equity items. In the past fiscal year, these reduced Group equity by \u20ac 9.8 million to a total of \u20ac \u2013 14.4 million (previous year: \u20ac \u2013 5.0 million). The development of gains and losses recognized directly in equity is shown in the adjacent table.      <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a7f8efc elementor-widget elementor-widget-spacer\" data-id=\"a7f8efc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4782490 e-con-full e-flex e-con e-child\" data-id=\"4782490\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ca67916 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"ca67916\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_43.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-ca67916 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-ca67916 canvas {\n                display: inline-block;\n            }\n            #pdf-container-ca67916:active {\n                cursor: grabbing;\n            }\n            #pdf-container-ca67916::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-ca67916::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-ca67916::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-ca67916\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-ca67916\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_43.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \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<div class=\"elementor-element elementor-element-e317a59 e-flex e-con-boxed e-con e-parent\" data-id=\"e317a59\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2a0e001 elementor-widget elementor-widget-menu-anchor\" data-id=\"2a0e001\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"28-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c5b0f0 elementor-widget elementor-widget-heading\" data-id=\"4c5b0f0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(28) Minority interests<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1341d0e elementor-widget elementor-widget-text-editor\" data-id=\"1341d0e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tGerman and international minority shareholders hold non-controlling interests in various entities of the PCC Group. PCC consistently applies the additive method when initially consolidating the equity of companies with non-controlling interests, as well as in subsequent capital transactions. Indirect interests of minority shareholders in the net assets of the consolidated company are not taken into account. For the allocation of earnings, the multiplicative method is applied to both direct and indirect interests of non-controlling interests.   <br><\/br>\n\nThe share of non-controlling interests reported in consolidated equity as of December 31, 2025 amounted to \u20ac \u2013 8.1 million, which is \u20ac 66.6 million lower than as of the same date in the previous year. Subsidiaries featuring significant non-controlling interests operate in various segments of the PCC Group. Information on the company name, registered office, and equity interests for subsidiaries featuring significant non-controlling interests is provided in the schedule of shareholdings pursuant to Section 313 (2) HGB (German Commercial Code) in <a href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/other-disclosures\/#44-note\">Note (44)<\/a>. There are no material restrictions on parent company control beyond the usual provisions of corporate law and contractual arrangements.   \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f081dc elementor-widget elementor-widget-spacer\" data-id=\"1f081dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-43dd4fe e-con-full e-flex e-con e-child\" data-id=\"43dd4fe\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-42f7647 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"42f7647\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_44.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-42f7647 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-42f7647 canvas {\n                display: inline-block;\n            }\n            #pdf-container-42f7647:active {\n                cursor: grabbing;\n            }\n            #pdf-container-42f7647::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-42f7647::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-42f7647::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-42f7647\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-42f7647\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_44.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \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<div class=\"elementor-element elementor-element-2ab57a1 e-flex e-con-boxed e-con e-parent\" data-id=\"2ab57a1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-10e3357 elementor-widget elementor-widget-menu-anchor\" data-id=\"10e3357\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"29-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-427d7ef elementor-widget elementor-widget-heading\" data-id=\"427d7ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(29) Hybrid capital<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2556b8e elementor-widget elementor-widget-text-editor\" data-id=\"2556b8e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tHybrid capital relates to a hybrid financing instrument with a volume of \u20ac 78.7 million. In accordance with IAS 32, the hybrid capital is classified as equity. There is neither a contractual obligation to repay the principal nor to pay interest. Instead, the repayment is subject to conditions that depend on the decision of the management of the company to make distributions to its shareholders. As soon as resolutions are passed on such distributions, the hybrid capital will also be serviced on a pro rata basis.    \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<div class=\"elementor-element elementor-element-c318e1b e-flex e-con-boxed e-con e-parent\" data-id=\"c318e1b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2eb9b37 elementor-widget elementor-widget-menu-anchor\" data-id=\"2eb9b37\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"30-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c2fa245 elementor-widget elementor-widget-heading\" data-id=\"c2fa245\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(30) Provisions for pensions and similar obligations<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c7e9285 elementor-widget elementor-widget-text-editor\" data-id=\"c7e9285\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tMost of the employees of the Polish subsidiaries of the PCC Group are granted non-recurring benefits under statutory pension plans in addition to their statutory retirement pensions. These defined benefit plans are, as a rule, based on length of service and salary. Benefits under defined benefit plans are generally granted upon reaching retirement age or upon disability or death.  \n<\/p>\nDefined contribution plans exist mainly in the form of statutory pension schemes in Germany and at the international subsidiaries. For employees of the German subsidiaries and the holding company, there may also be individual contributions to other defined contribution plans in addition to the statutory pension plan. Typical risk factors for defined benefit plans are longevity, nominal interest rate changes, and inflation and salary increases. The present value of the defined benefit obligation under a pension plan is determined based on the best estimate of the probability of death of the employees participating in the plan, both during the employment relationship and after its termination. An increase in the life expectancy of the beneficiary employees or a decrease in the bond interest rate leads in each case to an increase in the plan liability.     Furthermore, the present value of the defined benefit obligation under a pension plan is determined on the basis of the future salaries of the beneficiary employees. Salary increases of the beneficiary employees lead to an increase in the plan liability.\n<\/p>\nThe defined-benefit pension commitments are internally funded.<br\/><br\/>Provisions for pensions and similar obligations amounted to \u20ac 1.3 million, with the figure virtually unchanged from the previous year. Of this amount, \u20ac 1.2 million consists of non-current provisions with a term of more than one year.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7df00ef elementor-widget elementor-widget-spacer\" data-id=\"7df00ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-21326b0 e-con-full e-flex e-con e-child\" data-id=\"21326b0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b53ede1 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"b53ede1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_45.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-b53ede1 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-b53ede1 canvas {\n                display: inline-block;\n            }\n            #pdf-container-b53ede1:active {\n                cursor: grabbing;\n            }\n            #pdf-container-b53ede1::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-b53ede1::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-b53ede1::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-b53ede1\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-b53ede1\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_45.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7cee972 elementor-widget elementor-widget-spacer\" data-id=\"7cee972\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c22d84 elementor-widget elementor-widget-text-editor\" data-id=\"3c22d84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIn total, defined benefit pension plans are provided for 2,886 employees of the PCC Group companies (previous year: 2,943), of whom 74.3 % are male and 25.7 % are female. The average age as of the reporting date was 43.4 years (previous year: 43.3 years). A uniform discount rate of 4.35 % (previous year: 3.45 %) was applied to <br\/>determine pension obligations. Salary growth was assumed to be 3.8 % (previous year: 4.2 %). The 2024 Polish mortality table from the Central Statistical Office, which serves as the basis for the calculation, assumes a life expectancy of 78.6 years (previous year: 78.3 years). An adjustment of the key actuarial parameters would have the following effects on the amount of pension obligations:     \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56d1249 elementor-widget elementor-widget-spacer\" data-id=\"56d1249\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b13e415 e-con-full e-flex e-con e-child\" data-id=\"b13e415\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1eaac5e elementor-widget elementor-widget-pdf_table_widget\" data-id=\"1eaac5e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_46.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-1eaac5e {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-1eaac5e canvas {\n                display: inline-block;\n            }\n            #pdf-container-1eaac5e:active {\n                cursor: grabbing;\n            }\n            #pdf-container-1eaac5e::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-1eaac5e::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-1eaac5e::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-1eaac5e\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-1eaac5e\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_46.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n     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UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-df36258 elementor-widget elementor-widget-spacer\" data-id=\"df36258\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1f7135 elementor-widget elementor-widget-text-editor\" data-id=\"c1f7135\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe sensitivity analysis presented above is unlikely to be representative of the actual change in the defined benefit obligation, as it is considered improbable that deviations from the assumptions made would occur in isolation from one another.\n<\/p>\nThe pension obligations have the following profile of remaining maturities:\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-170b7d7 elementor-widget elementor-widget-spacer\" data-id=\"170b7d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aa6bf28 e-con-full e-flex e-con e-child\" data-id=\"aa6bf28\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1fdc387 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"1fdc387\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_47.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-1fdc387 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-1fdc387 canvas {\n  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    var container = document.getElementById(\"pdf-container-1fdc387\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_47.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-716f713 elementor-widget elementor-widget-spacer\" data-id=\"716f713\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe271b0 elementor-widget elementor-widget-text-editor\" data-id=\"fe271b0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe cash outflows for pension obligations break down as follows:\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ecf4ed elementor-widget elementor-widget-spacer\" data-id=\"8ecf4ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-63d4f86 e-con-full e-flex e-con e-child\" data-id=\"63d4f86\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5350ddf elementor-widget elementor-widget-pdf_table_widget\" data-id=\"5350ddf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_48.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-5350ddf {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-5350ddf canvas {\n                display: inline-block;\n            }\n            #pdf-container-5350ddf:active {\n                cursor: grabbing;\n            }\n            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pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_48.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efd795a elementor-widget elementor-widget-spacer\" data-id=\"efd795a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5945c0f elementor-widget elementor-widget-text-editor\" data-id=\"5945c0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tExpenses for the 2025 fiscal year include \u20ac 11.4 million in employer contributions to the statutory pension insurance scheme (previous year: \u20ac 10.5 million). In addition to contributions to the statutory pension scheme, expenses for defined-contribution pension plans are included in the current period\u2019s results in the amount of \u20ac 1.4 million (previous year: \u20ac 1.9 million). \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-17fc981 elementor-widget elementor-widget-spacer\" data-id=\"17fc981\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-416c4b2 e-con-full e-flex e-con e-child\" data-id=\"416c4b2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-454e6af elementor-widget elementor-widget-pdf_table_widget\" data-id=\"454e6af\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_49.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-454e6af {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-454e6af canvas {\n                display: inline-block;\n            }\n            #pdf-container-454e6af:active {\n                cursor: grabbing;\n            }\n            #pdf-container-454e6af::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-454e6af::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-454e6af::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-454e6af\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-454e6af\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_49.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); 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The decline is primarily attributable to a \u20ac 5.6 million reduction in provisions for the purchase of CO2 allowances. The \u20ac 3.1 million reduction in personnel provisions also contributed to the decrease. These provisions are primarily established for bonus and vacation entitlements.   \n<\/p>\nProvisions for energy efficiency certificates arise from the requirements of the Polish energy mix system. Any shortfall in the supply of energy from renewable sources to the production process must be offset either by purchasing so-called green certificates or through compensation payments. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-babdfd1 elementor-widget elementor-widget-spacer\" data-id=\"babdfd1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f73d8e5 e-con-full e-flex e-con e-child\" data-id=\"f73d8e5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dca0a9e elementor-widget elementor-widget-pdf_table_widget\" data-id=\"dca0a9e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_50.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-dca0a9e {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-dca0a9e canvas {\n                display: inline-block;\n            }\n            #pdf-container-dca0a9e:active {\n                cursor: grabbing;\n            }\n            #pdf-container-dca0a9e::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-dca0a9e::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-dca0a9e::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-dca0a9e\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-dca0a9e\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_50.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1dccc72 elementor-widget elementor-widget-spacer\" data-id=\"1dccc72\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-96bd97a elementor-widget elementor-widget-text-editor\" data-id=\"96bd97a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe table provided shows the development of other provisions in fiscal 2025. Other changes mainly relate to foreign exchange rate effects. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fc796b3 elementor-widget elementor-widget-spacer\" data-id=\"fc796b3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c28276b e-con-full e-flex e-con e-child\" data-id=\"c28276b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-86703df elementor-widget elementor-widget-pdf_table_widget\" data-id=\"86703df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_51.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-86703df {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-86703df canvas {\n                display: inline-block;\n            }\n            #pdf-container-86703df:active {\n                cursor: grabbing;\n            }\n            #pdf-container-86703df::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-86703df::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-86703df::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-86703df\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-86703df\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_51.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \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<div class=\"elementor-element elementor-element-fb0ab12 e-flex e-con-boxed e-con e-parent\" data-id=\"fb0ab12\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0c675cd elementor-widget elementor-widget-menu-anchor\" data-id=\"0c675cd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"32-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a97ea6d elementor-widget elementor-widget-heading\" data-id=\"a97ea6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(32) Financial liabilities<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dd7fc7f elementor-widget elementor-widget-text-editor\" data-id=\"dd7fc7f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe financial liabilities of the PCC Group are essentially composed of non-current and current liabilities arising from bonds, amounts owed to banks, lease liabilities and amounts owed to affiliated companies.\n<\/p>\nFinancial liabilities increased from \u20ac 958.2 million in the prior year to \u20ac 1,035.2 million as of December 31, 2025. The largest absolute increase, namely \u20ac 52.7 million to \u20ac 415.4 million, was recorded in liabilities to banks. Liabilities from bonds also increased significantly by \u20ac 21.5 million to \u20ac 542.3 million. Liabilities from leases rose by \u20ac 2.3 million to \u20ac 76.9 million.   \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b0fda0b elementor-widget elementor-widget-spacer\" data-id=\"b0fda0b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-509e7f4 e-con-full e-flex e-con e-child\" data-id=\"509e7f4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-efc12bc elementor-widget elementor-widget-pdf_table_widget\" data-id=\"efc12bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_52.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-efc12bc {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-efc12bc canvas {\n                display: inline-block;\n            }\n            #pdf-container-efc12bc:active {\n                cursor: grabbing;\n            }\n            #pdf-container-efc12bc::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-efc12bc::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-efc12bc::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-efc12bc\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-efc12bc\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_52.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d47943e elementor-widget elementor-widget-spacer\" data-id=\"d47943e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f00399 elementor-widget elementor-widget-text-editor\" data-id=\"7f00399\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tLiabilities to banks bear interest at rates ranging from 0.4 % p.a. to 12.5 % p.a. Unutilized, firmly committed credit lines within the PCC Group amounted to \u20ac 156.4 million as of the reporting date (previous year: \u20ac 144.9 million). As of the reporting date, the financial liabilities within the PCC Group had the maturity profile shown in the table.  \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0df1b46 elementor-widget elementor-widget-spacer\" data-id=\"0df1b46\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e003559 e-con-full e-flex e-con e-child\" data-id=\"e003559\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d2d56b6 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"d2d56b6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_53.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-d2d56b6 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-d2d56b6 canvas {\n                display: inline-block;\n            }\n            #pdf-container-d2d56b6:active {\n                cursor: grabbing;\n            }\n            #pdf-container-d2d56b6::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-d2d56b6::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-d2d56b6::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-d2d56b6\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-d2d56b6\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_53.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a124e6 elementor-widget elementor-widget-spacer\" data-id=\"7a124e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-774b89e elementor-widget elementor-widget-text-editor\" data-id=\"774b89e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe relevant factors when presenting the maturities of contractual cash flows from financial liabilities are interest payments and redemption of principal, plus other payments in respect of derivative financial instruments. The adjacent table shows non-discounted future cash flows. Derivatives are included on the basis of their net cash flows where they have negative fair values and thus represent liabilities. Derivatives with positive fair values are assets and are therefore not considered. Trade accounts payable are essentially non-interest-bearing and due within one year. The carrying amount of trade accounts payable therefore corresponds to the total of the future cash flows.     \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-921d532 elementor-widget elementor-widget-spacer\" data-id=\"921d532\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d1b8953 e-con-full e-flex e-con e-child\" data-id=\"d1b8953\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-eedddd4 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"eedddd4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_54.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-eedddd4 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-eedddd4 canvas {\n                display: inline-block;\n            }\n            #pdf-container-eedddd4:active {\n                cursor: grabbing;\n            }\n            #pdf-container-eedddd4::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-eedddd4::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-eedddd4::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-eedddd4\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-eedddd4\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_54.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a37e89 elementor-widget elementor-widget-spacer\" data-id=\"7a37e89\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-737f7be elementor-widget elementor-widget-text-editor\" data-id=\"737f7be\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe liabilities to banks reported under financial liabilities and those from leases were extensively secured in 2025 by land charges or similar liens, by the assignment of claims, the assignment of property, plant and equipment as chattel mortgages or by other collateral assignments. In total, the collateral granted as of December 31, 2025 amounted to \u20ac 482.2 million (previous year: \u20ac 438.9 million). \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15ab495 elementor-widget elementor-widget-spacer\" data-id=\"15ab495\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ac2804b e-con-full e-flex e-con e-child\" data-id=\"ac2804b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-61f646c elementor-widget elementor-widget-pdf_table_widget\" data-id=\"61f646c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_55.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-61f646c {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-61f646c canvas {\n                display: inline-block;\n            }\n            #pdf-container-61f646c:active {\n                cursor: grabbing;\n            }\n            #pdf-container-61f646c::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-61f646c::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-61f646c::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-61f646c\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-61f646c\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_55.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b58a86 elementor-widget elementor-widget-spacer\" data-id=\"5b58a86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fd776c elementor-widget elementor-widget-text-editor\" data-id=\"7fd776c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tLiabilities from bonds result from issuances by PCC SE and the foreign subsidiaries PCC Rokita SA and PCC Exol SA. Bonds of the PCC Group are issued in euros and Polish z\u0142oty. The public bonds denominated in euros (EUR) carry fixed coupons ranging from 4.0 % to 6.0 % p.a. The bonds issued in z\u0142oty (PLN) have either fixed coupons ranging from 5.0 % to 5.5 % p.a. or a variable interest rate. The bonds issued in z\u0142oty, with a total volume of PLN 102.0 million (previous year: PLN 197.0 million), had a value equivalent to \u20ac 23.5 million as of the reporting date (previous year: \u20ac 45.2 million). \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c2e9da3 elementor-widget elementor-widget-spacer\" data-id=\"c2e9da3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-74500c2 e-con-full e-flex e-con e-child\" data-id=\"74500c2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bdec18d elementor-widget elementor-widget-pdf_table_widget\" data-id=\"bdec18d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_56.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-bdec18d {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-bdec18d canvas {\n                display: inline-block;\n            }\n            #pdf-container-bdec18d:active {\n                cursor: grabbing;\n            }\n            #pdf-container-bdec18d::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-bdec18d::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-bdec18d::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-bdec18d\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-bdec18d\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_56.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); 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As in the prior year, the largest single item within other liabilities is deferred income totaling \u20ac 77.9 million (previous year: \u20ac 75.8 million). This relates primarily to subsidies and grants for investment projects. Reversals of deferred income from subsidies totaling \u20ac 4.8 million are included in the result for fiscal 2025 (previous year: \u20ac 5.0 million). Liabilities from investments increased from \u20ac 12.2 million in the prior year to \u20ac 13.5 million as of the reporting date. These are liabilities arising from goods or services provided by third parties that resulted from investment projects as of the reporting date.    \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d210a28 elementor-widget elementor-widget-spacer\" data-id=\"d210a28\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6b3dbfb e-con-full e-flex e-con e-child\" data-id=\"6b3dbfb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f4e7103 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"f4e7103\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_57.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-f4e7103 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-f4e7103 canvas {\n                display: inline-block;\n            }\n            #pdf-container-f4e7103:active {\n                cursor: grabbing;\n            }\n            #pdf-container-f4e7103::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-f4e7103::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-f4e7103::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-f4e7103\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-f4e7103\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_57.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \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<div class=\"elementor-element elementor-element-4e9886c e-flex e-con-boxed e-con e-parent\" data-id=\"4e9886c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-258b33d elementor-widget elementor-widget-menu-anchor\" data-id=\"258b33d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"34-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1a5635 elementor-widget elementor-widget-heading\" data-id=\"f1a5635\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(34) Deferred taxes<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ef657d elementor-widget elementor-widget-text-editor\" data-id=\"3ef657d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tDeferred taxes are recognized for temporary differences between the carrying amounts of assets, liabilities and accruals in the balance sheet, and their tax bases. As in the prior year, a uniform tax rate of 30 % was applied to domestic German companies. For foreign companies, the respective national tax rates were applied. In Iceland, the tax rate decreased to 20.0 % in the reporting year (previous year: 21.0 %). All other tax rates remained constant year on year.    \n<\/p>\nThe adjacent table shows how deferred taxes are allocated to the respective balance sheet items. Within the PCC Group, deferred tax assets and liabilities are offset if they relate to the same tax jurisdiction and if there is a legally enforceable right to offset tax liabilities and assets. For the reporting year, deferred tax assets amounted to <br\/>\u20ac 9.4 million (previous year: \u20ac 15.7 million) and deferred tax liabilities to \u20ac 15.6 million (previous year: \u20ac 18.5 million).  \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f468f4 elementor-widget elementor-widget-spacer\" data-id=\"6f468f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-16a5bd5 e-con-full e-flex e-con e-child\" data-id=\"16a5bd5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c0cb052 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"c0cb052\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_58.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-c0cb052 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-c0cb052 canvas {\n                display: inline-block;\n            }\n            #pdf-container-c0cb052:active {\n                cursor: grabbing;\n            }\n            #pdf-container-c0cb052::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-c0cb052::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-c0cb052::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-c0cb052\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-c0cb052\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_58.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45b393e elementor-widget elementor-widget-spacer\" data-id=\"45b393e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-054f87b elementor-widget elementor-widget-text-editor\" data-id=\"054f87b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe table below shows the unnetted deferred taxes. Future tax benefits from a special economic zone are reported under other deferred taxes.\n<\/p>\nDeferred tax assets on tax-deductible loss carryforwards decreased by \u20ac 18.5 million in the past fiscal year to \u20ac 3.2 million as of the reporting date.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-842a4b5 elementor-widget elementor-widget-spacer\" data-id=\"842a4b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a5c1f38 e-con-full e-flex e-con e-child\" data-id=\"a5c1f38\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-acfddc4 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"acfddc4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_59.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-acfddc4 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-acfddc4 canvas {\n                display: inline-block;\n            }\n            #pdf-container-acfddc4:active {\n                cursor: grabbing;\n            }\n            #pdf-container-acfddc4::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-acfddc4::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-acfddc4::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-acfddc4\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-acfddc4\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_59.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \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<div class=\"elementor-element elementor-element-0fef158 e-con-full e-flex e-con e-parent\" data-id=\"0fef158\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e3fea9e elementor-widget elementor-widget-menu-anchor\" data-id=\"e3fea9e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"35-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1619c3 elementor-widget elementor-widget-heading\" data-id=\"f1619c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(35) Additional disclosures relating to financial instruments<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25e5266 elementor-widget elementor-widget-text-editor\" data-id=\"25e5266\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tAs an internationally active corporation, the PCC Group is exposed to financial risks in the course of its ordinary business operations. A major objective of the corporate policy is to generally restrict market, default and liquidity risks, in order both to secure enterprise value over the long term and to maintain the Group\u2019s earning power and thus extensively cushion the negative impact of fluctuations in cash flow and earnings. <br><\/br>\n\nThe Group holding company and the individual subsidiaries cooperate in the management of interest rate and currency risks, and also default risks. Each individual operating entity is responsible for managing its own commodity or raw material price risks, while liquidity control is the responsibility of the holding company. <br><\/br>\n\n<strong>Market risks<\/strong><br><\/br>\n\n<strong>Currency risks:<\/strong> Changes in exchange rates can lead to losses in the value of financial instruments as well as to adverse changes in future cash flows from planned transactions. Currency risks arising from financial instruments result from the translation of financial receivables, loans, securities, cash, and financial liabilities into the functional currency of the respective companies at the closing rate at year-end. Specifically, currency risks arise both on the purchasing side through the procurement of raw materials and on the sales side through the sale of finished products. A potential 10 % change in the Polish z\u0142oty would have an impact on equity and net income of \u20ac 0.3 million (previous year: also \u20ac 0.3 million). A 10 % change in the exchange rate of the US dollar would alter these items by \u20ac 0.2 million (previous year: \u20ac 0.1 million).   <br><\/br>\n\n<strong>Interest rate risks:<\/strong> These risks arise from potential changes in market interest rates and can lead to changes in the fair value of fixed-rate financial instruments and to fluctuations in interest payments for variable-rate financial instruments. A potential change in interest rates of 100 basis points would have an impact of \u20ac 6.0 million on the Group\u2019s equity and net income (previous year: \u20ac 5.2 million). <br><\/br>\n\n<strong>Commodity price risks:<\/strong> These risks result from changes in market prices for raw material purchases and sales, and also for electricity and gas purchases. The availability and price sensitivity of relevant raw materials, feedstocks, precursors and intermediates, are of great significance for the PCC Group\u2019s overall risk profile. In this context, the dependence of key commodity prices on exchange rates and market quotations should be noted, particularly for petrochemical raw materials. Price volatility is mitigated, among other things, by agreeing on price escalation clauses with suppliers and customers. Furthermore, commodity price risks are mitigated through internationally aligned purchasing activities.     Backward integration along the value chain or along the production stages in the chemical-producing segments additionally ensures a higher degree of independence in the procurement of raw materials and reduces risk. The commodity trading business in the Trading &#038; Services segment is, in part, exposed to significant price fluctuations. <br><\/br>\n\n<strong>Default or credit risks<\/strong><br>\nDefault or credit risks arise when contractual partners are unable to meet their contractual obligations. Credit limits are granted based on the continuous monitoring of the creditworthiness of major debtors. Because of the international activity and the diversified customer structure of the PCC Group, there are no major regional or segment-specific clusters of default risks. In selecting short-term capital investments, various safeguarding criteria are considered (e.g. ratings, capital guarantees or safeguards afforded by deposit protection funds). Given the selection criteria applied and our regime of constantly monitoring our capital investments, the PCC Group does not envisage any unidentified default risk occurring in this domain. The financial asset amounts shown in the balance sheet essentially represent the maximum default risk.   Such risks are regularly monitored and analyzed within the framework of a receivables and credit management regime and also by a Working Capital Management unit with responsibility at both the operational and Group levels. In all, receivables from customers are secured in an amount of \u20ac 69.3 million (previous year: \u20ac 68.7 million). Financial assets that are neither past due nor impaired are classified as collectible based on the creditworthiness of the debtors.  <br><\/br>\n\n<strong>Liquidity risks<\/strong><br>\nLiquidity risks result from fluctuations in cash flows. Current liquidity is monitored and managed through a Group-wide treasury reporting system based on an IT-supported solution (Nomentia Treasury Management, formerly Treasury Information Platform). In medium- and long-term liquidity planning, liquidity risks are identified and managed at their inception on the basis of simulations of various scenarios. Obstacles that may arise within the SME bonds market segment could \u2013 at least temporarily \u2013 lead to liquidity bottlenecks. This risk is to be countered over the long term through the development of alternative financing sources at the institutional level. In addition, we are constantly engaged in partially replacing the liquidity loans granted to our affiliated companies with bank loans.     <br><\/br>\n\n<strong>Financial instruments by class and category<\/strong><br>\nFor trade accounts receivable, receivables from affiliated companies or companies in which the Group holds an equity interest, as well as for other financial assets, cash and cash equivalents, trade accounts payable, and other liabilities, the carrying amounts are considered a realistic estimate of their fair values due to their short remaining terms.<br><\/br>\n\nThe cash flows of other long-term financial assets consist solely of interest and principal payments, hence the carrying amount is considered a realistic estimate of their fair values.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a8a3fb elementor-widget elementor-widget-spacer\" data-id=\"0a8a3fb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-afc3b34 e-flex e-con-boxed e-con e-child\" data-id=\"afc3b34\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a88c650 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"a88c650\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_60.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-a88c650 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-a88c650 canvas {\n                display: inline-block;\n            }\n            #pdf-container-a88c650:active {\n                cursor: grabbing;\n            }\n            #pdf-container-a88c650::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-a88c650::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-a88c650::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-a88c650\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-a88c650\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_60.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\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\t\t<div class=\"elementor-element elementor-element-08ff9d1 elementor-widget elementor-widget-text-editor\" data-id=\"08ff9d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ol>\n \t<li>FAaC = Financial assets measured at amortized cost\n<\/br>\nFLaC = Financial liabilities measured at amortized cost\n<\/br>\nFVtOCI = Fair value through other comprehensive income\n<\/br>\nFVtPL = Fair value through profit or loss<\/li>\n<\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05b6654 elementor-widget elementor-widget-spacer\" data-id=\"05b6654\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d56868f elementor-widget elementor-widget-text-editor\" data-id=\"d56868f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tCertain liabilities from bonds issued by subsidiaries include sales commissions and are accounted for using the effective interest method. The fair value stated in this section corresponds to market quotations. \n<\/p>\nNet gains and losses from financial instruments include valuation gains and losses, the amortization of premiums and discounts, the recognition and reversal of impairment losses, foreign currency translation gains and losses, as well as interest, dividends, and all other effects on profit or loss arising from financial instruments. Financial instruments measured at fair value through profit or loss include only gains and losses from instruments that are not designated as hedging instruments within a designated hedging relationship per IFRS 9. Net gains and losses from financial assets measured at amortized cost include net interest income of \u20ac 2.8 million (previous year: \u20ac 4.2 million) and net foreign exchange losses of \u20ac \u201317.2 million (previous year gain: \u20ac 0.4 million).   Net gains and losses from financial liabilities measured at amortized cost include a net interest result of \u20ac \u2013 50.9 million (previous year: \u20ac \u2013 48.8 million) and a foreign exchange loss of \u20ac \u2013 4.3 million (previous year gain: \u20ac 9.0 million).\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6467c16 elementor-widget elementor-widget-spacer\" data-id=\"6467c16\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e91269f e-flex e-con-boxed e-con e-child\" data-id=\"e91269f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9286d24 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"9286d24\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_61.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-9286d24 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-9286d24 canvas {\n                display: inline-block;\n            }\n            #pdf-container-9286d24:active {\n                cursor: grabbing;\n            }\n            #pdf-container-9286d24::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-9286d24::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-9286d24::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-9286d24\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-9286d24\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_61.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\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\t\t<div class=\"elementor-element elementor-element-47ba3dc elementor-widget elementor-widget-spacer\" data-id=\"47ba3dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b458ae elementor-widget elementor-widget-text-editor\" data-id=\"9b458ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tFinancial assets and liabilities measured at fair value are presented in the table. These consist of equities, which are valued at the market price (Level 1), as well as derivatives. The fair value of derivative financial instruments depends on the development of the underlying market factors. The respective fair values are determined and monitored at regular intervals. The fair value determined for all derivative financial instruments is the price that would be paid upon the sale of an asset or the transfer of a liability in a routine transaction between independent market participants on the valuation date.    \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b64e429 elementor-widget elementor-widget-spacer\" data-id=\"b64e429\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4198a31 e-flex e-con-boxed e-con e-child\" data-id=\"4198a31\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ecd02d3 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"ecd02d3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_62.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-ecd02d3 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-ecd02d3 canvas {\n                display: inline-block;\n            }\n            #pdf-container-ecd02d3:active {\n                cursor: grabbing;\n            }\n            #pdf-container-ecd02d3::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-ecd02d3::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-ecd02d3::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-ecd02d3\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-ecd02d3\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_62.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\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\t\t<div class=\"elementor-element elementor-element-5545579 elementor-widget elementor-widget-spacer\" data-id=\"5545579\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-deaa485 elementor-widget elementor-widget-text-editor\" data-id=\"deaa485\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Derivative financial instruments<\/strong>\n<\/p>\nThe subsidiaries of the PCC Group use derivative financial instruments to hedge interest rate and foreign currency risks. The valuation methods and assumptions underlying the valuation of the derivative financial instruments used can be summarized as follows: Foreign exchange transactions and swaps are valued individually at their forward rate or price as of the reporting date. The forward rates or prices are based, as far as possible, on market quotations, taking into account forward premiums and discounts where applicable.  \n<\/p>\nSubsidiaries use forward contracts to hedge foreign currency transactions. As of December 31, 2025, forward exchange contracts with a notional value of \u20ac \u2013 11.6 million (previous year: \u20ac \u2013 0.6 million) were in effect. The immaterial fair values are recognized as an asset. Within the PCC Group, interest rate swaps and interest rate options are used to hedge interest rates and their long-term development. The notional value of the derivatives outstanding as of the reporting date amounted to \u20ac 83.2 million (previous year: \u20ac 86.1 million) and had a fair value of \u20ac 3.7 million, which was recognized as an asset as of the reporting date (previous year: \u20ac 4.1 million).    \n<\/p>\nThere were no cash flow hedges in either the reporting year or the previous year.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81d9157 elementor-widget elementor-widget-spacer\" data-id=\"81d9157\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-150dbc0 e-flex e-con-boxed e-con e-child\" data-id=\"150dbc0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-31ae88e elementor-widget elementor-widget-pdf_table_widget\" data-id=\"31ae88e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_63.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-31ae88e {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-31ae88e canvas {\n                display: inline-block;\n            }\n            #pdf-container-31ae88e:active {\n                cursor: grabbing;\n            }\n            #pdf-container-31ae88e::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-31ae88e::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-31ae88e::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-31ae88e\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-31ae88e\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_63.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\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\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0d90f58 e-flex e-con-boxed e-con e-parent\" data-id=\"0d90f58\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8f87fe0 elementor-widget elementor-widget-menu-anchor\" data-id=\"8f87fe0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"36-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b1c163 elementor-widget elementor-widget-heading\" data-id=\"9b1c163\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(36) Leases<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e8682bf elementor-widget elementor-widget-text-editor\" data-id=\"e8682bf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tLeases in which the PCC Group is the lessee are accounted for using the rights-of-use model in accordance with IFRS 16. A tabular presentation of the rights of use for the year under review can be found in <a href=\"#21-note\">Note (21) Right-of-use Assets<\/a>. Right-of-use assets amounting to \u20ac 94.0 million were countervailed by lease liabilities of \u20ac 76.9 million as of the reporting date. The latter are reported under financial liabilities. Please refer to <a href=\"#32-note\">Note (32) Financial Liabilities<\/a>. The maturity structure of payment obligations under leases is shown in the adjacent table.   \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0e9186f elementor-widget elementor-widget-spacer\" data-id=\"0e9186f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2d5490c e-con-full e-flex e-con e-child\" data-id=\"2d5490c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9456bae elementor-widget elementor-widget-pdf_table_widget\" data-id=\"9456bae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_64.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-9456bae {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-9456bae canvas {\n                display: inline-block;\n            }\n            #pdf-container-9456bae:active {\n                cursor: grabbing;\n            }\n            #pdf-container-9456bae::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-9456bae::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-9456bae::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-9456bae\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-9456bae\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_64.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fdeb0e1 elementor-widget elementor-widget-spacer\" data-id=\"fdeb0e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9bd27e3 elementor-widget elementor-widget-text-editor\" data-id=\"9bd27e3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tCompliant with the exemptions allowed, no right-of-use assets have been recognized in the balance sheet where the underlying leased asset is of minor value or where the contractual term is less than twelve months. Instead, the lease is expensed. The table opposite shows the amounts recognized in the consolidated statement of income in connection with leases.  \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4bb7fd elementor-widget elementor-widget-spacer\" data-id=\"a4bb7fd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bf51156 e-con-full e-flex e-con e-child\" data-id=\"bf51156\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-80d97c4 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"80d97c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_65.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-80d97c4 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-80d97c4 canvas {\n                display: inline-block;\n            }\n            #pdf-container-80d97c4:active {\n                cursor: grabbing;\n            }\n            #pdf-container-80d97c4::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-80d97c4::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-80d97c4::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-80d97c4\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-80d97c4\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_65.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d0ab8bc elementor-widget elementor-widget-spacer\" data-id=\"d0ab8bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b2a22b elementor-widget elementor-widget-text-editor\" data-id=\"9b2a22b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThere was no material income from subleases. In total, cash outflows from lease agreements amounted to \u20ac 24.2 million in the past fiscal year (previous year: \u20ac 21.8 million). In addition to lease agreements, the PCC Group has minor obligations arising from rental agreements. A corresponding maturity profile is presented in the following <a href=\"#37-note\">Note (37)<\/a>.  \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<div class=\"elementor-element elementor-element-7983dc2 e-flex e-con-boxed e-con e-parent\" data-id=\"7983dc2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fa2f69c elementor-widget elementor-widget-menu-anchor\" data-id=\"fa2f69c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"37-note\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e4d672c elementor-widget elementor-widget-heading\" data-id=\"e4d672c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">(37) Contingent liabilities and other financial commitments<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b929a2f elementor-widget elementor-widget-text-editor\" data-id=\"b929a2f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tContingent liabilities mainly result from guarantees given to the financing bank of a joint venture. They also relate to guarantees issued for non-consolidated entities in favor of third parties and relate to obligations to suppliers and to the public sector. The change in other contingent liabilities results from the inclusion of investment grants, some of which may still be subject to claims for repayment in the event that contractually agreed covenants are not met. The PCC Group currently expects that no claims will be made in respect of any such contingent liabilities.  \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a416b85 elementor-widget elementor-widget-spacer\" data-id=\"a416b85\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-24a9a5d e-con-full e-flex e-con e-child\" data-id=\"24a9a5d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-febc83c elementor-widget elementor-widget-pdf_table_widget\" data-id=\"febc83c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_66.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-febc83c {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-febc83c canvas {\n                display: inline-block;\n            }\n            #pdf-container-febc83c:active {\n                cursor: grabbing;\n            }\n            #pdf-container-febc83c::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-febc83c::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-febc83c::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-febc83c\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-febc83c\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_66.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); 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Obligations arising from rental agreements with a remaining term of up to one year include commitments of \u20ac 0.2 million attributable to short-term leases. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b98f749 elementor-widget elementor-widget-spacer\" data-id=\"b98f749\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-41fb4a5 e-con-full e-flex e-con e-child\" data-id=\"41fb4a5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ea139de elementor-widget elementor-widget-pdf_table_widget\" data-id=\"ea139de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_67.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-ea139de {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-ea139de canvas {\n                display: inline-block;\n            }\n            #pdf-container-ea139de:active {\n                cursor: grabbing;\n            }\n            #pdf-container-ea139de::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-ea139de::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-ea139de::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-ea139de\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-ea139de\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_67.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); 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The cash flows are broken down according to cash flow from operating activities, cash flow from investing activities and cash flow from financing activities. \n<\/p>\nInterest received and taxes paid on income are recognized as cash flow from operating activities. Interest paid is disclosed under cash flow from financing activities. Dividends paid are a component of the financing activities category. Dividends paid within the Group from income attributable to the previous year are eliminated. Dividend payments to the shareholder of PCC SE and dividend payments to co-shareholders at subsidiaries are separately disclosed in cash flow from financing activities. Financial funds disclosed equate to the total of cash and cash equivalents (cash on hand, credit balances at banks, and current, highly liquid financial assets) shown in the balance sheet.    \n<\/p>\nIn the event of changes in the scope of consolidation arising from the purchase or sale of entities (loss of control), the purchase price paid or received, adjusted for the financial funds acquired or sold, is recognized under cash flow from investing activities. If the acquisition or disposal of shares in a subsidiary takes place without a change in the control status, such transactions are disclosed as financing activities. \n<\/p>\nThe conclusion of a lease agreement per IFRS 16 essentially constitutes a non-cash transaction. Payments made for investments in property, plant and equipment are netted against lease proceeds. Cash and cash equivalents disclosed in the balance sheet included an amount as of December 31, 2025 of \u20ac 2.5 million (previous year: \u20ac 3.5 million) in funds not freely available. These were almost entirely attributable to funds already allocated to investment projects.   \n<\/p>\nThe following reconciliation statement shows changes in financial liabilities that are reported as cash inflows or outflows in cash flow from financing activities. Cash-effective changes amounted to \u20ac 34.9 million as of the reporting date (previous year: \u20ac 48.5 million). \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ef94a5 elementor-widget elementor-widget-spacer\" data-id=\"6ef94a5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-da4852f e-con-full e-flex e-con e-child\" data-id=\"da4852f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c605f78 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"c605f78\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_68.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-c605f78 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-c605f78 canvas {\n                display: inline-block;\n            }\n            #pdf-container-c605f78:active {\n                cursor: grabbing;\n            }\n            #pdf-container-c605f78::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-c605f78::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-c605f78::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-c605f78\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-c605f78\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_68.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); 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The objects of the financial policy of the Group are to secure its liquidity and solvency, limit financial risks and optimize the cost of capital. The control metric adopted in this context is the net debt \/ EBITDA leverage ratio. This metric shows the relationship between net borrowings, including current and non-current pension provisions, current and non-current financial liabilities, cash and cash equivalents and current securities, and earnings before interest, taxes, depreciation and amortization (EBITDA), and is therefore a dynamic indebtedness indicator.  \n<\/p>\nWith net debt of \u20ac 979.4 million (previous year: \u20ac 860.1 million) and reported EBITDA of \u20ac 81.4 million (previous year: \u20ac 88.0 million), the net debt \/ EBITDA ratio was 12.0 for the 2025 fiscal year (previous year: 9.8). Our goal of keeping this ratio below 5.0 was therefore not achieved.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7942e4 elementor-widget elementor-widget-spacer\" data-id=\"b7942e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-184a9db e-con-full e-flex e-con e-child\" data-id=\"184a9db\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f12923f elementor-widget elementor-widget-pdf_table_widget\" data-id=\"f12923f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pdf_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div style=\"margin-bottom:10px;\"><a class=\"pcc-excel-download\" href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/excel\/en\/t_a_69.xlsx\" download style=\"text-decoration:none;padding:6px 10px;border:1px solid #ccc;border-radius:4px;background:#f0f0f0;display:inline-flex;align-items:center;\"><img decoding=\"async\" src=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/plugins\/pcc-elementor\/widgets\/download-solid.svg\" alt=\"download excel\" style=\"width:1em;height:1em;margin-right:0.5em;vertical-align:middle;\" \/>download excel<\/a><\/div><style>\n            #pdf-container-f12923f {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-f12923f canvas {\n                display: inline-block;\n            }\n            #pdf-container-f12923f:active {\n                cursor: grabbing;\n            }\n            #pdf-container-f12923f::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-f12923f::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-f12923f::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-f12923f\"><\/div>\n<script>\n(function(){\n    var ua = navigator.userAgent;\n    var isLegacyWebKit = \/\\bVersion\\\/(16|17)\\.\/.test(ua)\n                       && \/\\bSafari\\\/\/.test(ua)\n                       && !\/\\bChrome\\\/\/.test(ua);\n\n    function renderPDF(pdfjsLib) {\n        console.log(\"PDF.js: rendering with\", pdfjsLib.version || \"(no version property)\");\n        var container = document.getElementById(\"pdf-container-f12923f\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_69.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); })\n            .then(function(page){\n                var viewport = page.getViewport({ scale: 2.25 });\n                var ratio    = window.devicePixelRatio || 1;\n                var canvas   = document.createElement(\"canvas\");\n                var ctx      = canvas.getContext(\"2d\");\n                canvas.width  = viewport.width * ratio;\n                canvas.height = viewport.height * ratio;\n                canvas.style.width  = viewport.width + \"px\";\n                canvas.style.height = viewport.height + \"px\";\n                ctx.scale(ratio, ratio);\n                return page.render({ canvasContext: ctx, viewport: viewport }).promise\n                    .then(function(){ container.appendChild(canvas); });\n            })\n            .catch(function(err){ console.error(\"PDF.js Fehler:\", err); });\n\n        \/\/ Drag-Scroll\n        var isDown=false, startX, scrollLeft;\n        container.addEventListener(\"mousedown\", function(e){\n            isDown=true;\n            startX=e.pageX-container.offsetLeft;\n            scrollLeft=container.scrollLeft;\n            container.style.cursor=\"grabbing\";\n        });\n        [\"mouseleave\",\"mouseup\"].forEach(function(evt){\n            container.addEventListener(evt, function(){\n                isDown=false;\n                container.style.cursor=\"grab\";\n            });\n        });\n        container.addEventListener(\"mousemove\", function(e){\n            if(!isDown) return;\n            e.preventDefault();\n            var x=e.pageX-container.offsetLeft;\n            var walk=(x-startX)*1.2;\n            container.scrollLeft=scrollLeft-walk;\n        });\n    }\n\n    if (isLegacyWebKit) {\n        console.log(\"PDF.js: Loading UMD v3.11.174 for legacy WebKit\");\n        var s = document.createElement(\"script\");\n        s.src = \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.min.js\";\n        s.onload = function(){\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/cdn.jsdelivr.net\/npm\/pdfjs-dist@3.11.174\/build\/pdf.worker.min.js\";\n            renderPDF(pdfjsLib);\n        };\n        document.head.appendChild(s);\n    } else {\n        console.log(\"PDF.js: Loading ESM v5.2.133 standard build\");\n        var s_module = document.createElement(\"script\");\n        s_module.type = \"module\";\n        s_module.textContent = `\n            import * as pdfjsLib from \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.min.mjs\";\n            pdfjsLib.GlobalWorkerOptions.workerSrc =\n              \"https:\/\/unpkg.com\/pdfjs-dist@5.2.133\/build\/pdf.worker.min.mjs\";\n            (${renderPDF.toString()})(pdfjsLib);\n        `;\n        document.head.appendChild(s_module);\n    }\n})();\n<\/script>\n\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff91c18 elementor-widget elementor-widget-spacer\" data-id=\"ff91c18\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d2931c2 elementor-widget elementor-widget-text-editor\" data-id=\"d2931c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tCertain subsidiaries are subject to external minimum capital requirements under financing agreements, which are reflected in the form of standard financial covenants \u2013 that is, obligations to comply with specified financial limits. These include, among other things, standard market requirements for minimum equity ratios and maximum debt-to-equity ratios. Compliance with these requirements is also taken into account in the annual budget planning for the following year. According to the information submitted by the consolidated companies for the preparation of the consolidated financial statements, the necessary covenants were not met in two instances during the 2025 fiscal year. In one case, a financial ratio typical of loan agreements was not met. In the other case, an agreement regarding compliance with a credit line was not fulfilled. There have been no adjustments to the loan terms or similar measures on the part of the lenders.   \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\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>(19) Intangible assets Intangible assets include industrial property rights, licenses and similar rights, goodwill, internally generated and developed assets, and advance payments on intangible assets. The net carrying amounts decreased from \u20ac 53.0 million in the previous year to \u20ac 51.1 million as at December 31, 2025. No impairment losses were recognized in the reporting [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":5391,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-5396","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5396","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=5396"}],"version-history":[{"count":39,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5396\/revisions"}],"predecessor-version":[{"id":6976,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5396\/revisions\/6976"}],"up":[{"embeddable":true,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5391"}],"wp:attachment":[{"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/media?parent=5396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}