{"id":5398,"date":"2025-05-06T15:55:35","date_gmt":"2025-05-06T13:55:35","guid":{"rendered":"https:\/\/geschaeftsbericht-2024.pcc.eu\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/summary-of-significant-accounting-and-valuation-policies\/"},"modified":"2026-06-24T09:16:20","modified_gmt":"2026-06-24T07:16:20","slug":"summary-of-significant-accounting-and-valuation-policies","status":"publish","type":"page","link":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/summary-of-significant-accounting-and-valuation-policies\/","title":{"rendered":"Summary of significant accounting and valuation policies"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"5398\" class=\"elementor elementor-5398 elementor-819\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d5300d7 e-flex e-con-boxed e-con e-parent\" data-id=\"d5300d7\" 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-ccbbe41 elementor-absolute elementor-widget elementor-widget-menu-anchor\" data-id=\"ccbbe41\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" 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=\"1-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-c2466fe elementor-widget elementor-widget-heading\" data-id=\"c2466fe\" 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\">(1) General disclosures<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-86ab722 elementor-widget elementor-widget-text-editor\" data-id=\"86ab722\" 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\tPCC Societas Europaea (PCC SE) is a non-listed corporation under European law headquartered in Duisburg and the parent company of the PCC Group. Its address is Moerser Str. 149, 47198 Duisburg, Germany. PCC SE is recorded in the Commercial Register of Duisburg District Court under reference HRB 19088.  <br><\/br>\n\nThe consolidated financial statements of PCC SE have been prepared in accordance with the International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB) and the Interpretations issued by the IFRS Interpretations Committee (IFRS IC), which had been adopted by the European Commission for use in the EU by the reporting date and whose application was mandatory as of December 31, 2025. In addition, the requirements of Section 315e (3) HGB (German Commercial Code) in conjunction with Section 315e (1) HGB have been observed. The consolidated financial statements are based on the going concern principle.    <br><\/br>\n\nThe reporting date for the preparation of the consolidated financial statements is December 31, 2025, which is also the reporting date for the annual financial statements of PCC SE. The fiscal year of the Group corresponds to the calendar year. <br><\/br>\n\nThe annual financial statements and subgroup financial statements of the subsidiaries included in the consolidated financial statements have also been prepared as at this reporting date. The financial statements of PCC SE and those of the consolidated subsidiaries have been prepared in accordance with uniform accounting and valuation policies. <br><\/br>\n\nThe consolidated financial statements have been prepared in euros. The reporting currency is the euro. Unless otherwise indicated, all amounts are stated in thousands of euros (\u20ac k); rounding differences may therefore arise.  <br><\/br>\n\nIndividual items of the balance sheet and the statement of income of the PCC Group have been partially aggregated in the interests of clarity. These items are explained in the Notes appended. The consolidated statement of income has been prepared using the nature of expense method.  <br><\/br>\n\nIn accordance with IAS 1.60, the PCC Group presents current and non-current assets and current and non-current liabilities in the balance sheet as separate classification groups, some of which are additionally broken down by their respective maturities as of December 31, 2025 in these notes to the consolidated financial statements.<br><\/br>\n\nThe Executive Board of PCC SE finalized these financial statements at its meeting on May 5, 2026, submitted the prepared financial statements to the Supervisory Board for review and approval, and authorized their publication. The consolidated financial statements of PCC SE are submitted to the publisher of the Federal Gazette for publication. \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-01cdf12 e-flex e-con-boxed e-con e-parent\" data-id=\"01cdf12\" 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-aa9d983 elementor-absolute elementor-widget elementor-widget-menu-anchor\" data-id=\"aa9d983\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" 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=\"2-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-077a0b0 elementor-widget elementor-widget-heading\" data-id=\"077a0b0\" 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\">(2) Changes in accounting policies, and standards and interpretations for which application is not yet mandatory<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e3f2649 elementor-widget elementor-widget-text-editor\" data-id=\"e3f2649\" 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>Mandatory standards and interpretations applied for the first time<\/strong>\n\nThe amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates specify for the first time how to determine whether a currency is convertible and how to apply an estimated spot rate in the absence of convertibility.\n<\/br>\n\nThe accounting standards listed in the table as applicable for the first time have no material impact on the PCC Group\u2019s consolidated financial statements.\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-85bf267 elementor-widget elementor-widget-spacer\" data-id=\"85bf267\" 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-c38d30b e-con-full e-flex e-con e-child\" data-id=\"c38d30b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a0ab52e elementor-widget elementor-widget-pdf_table_widget\" data-id=\"a0ab52e\" 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_07.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-a0ab52e {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-a0ab52e canvas {\n                display: inline-block;\n            }\n            #pdf-container-a0ab52e:active {\n                cursor: grabbing;\n            }\n            #pdf-container-a0ab52e::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-a0ab52e::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-a0ab52e::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-a0ab52e\"><\/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-a0ab52e\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_07.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            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mandatory<\/strong><br>\nThe IASB has published the standards and interpretations listed in the adjacent table, as well as amendments thereto, which were not yet applicable in fiscal 2025. Some of these standards and interpretations have not yet been adopted into EU law (endorsement mechanism) and are not applied by the PCC Group. The PCC Group is currently assessing the extent to which new standards and interpretations that are not yet mandatory will affect the consolidated financial statements. <br><\/br>\n\nWith the exception of the new IFRS 18, it is currently expected that the listed standards and interpretations not yet applicable will have no material impact on the consolidated financial statements.<br><\/br>\n\nThe new standard IFRS 18 Presentation and Disclosure in Financial Statements will replace the previous standard IAS 1 and contains requirements for the presentation and disclosure of information in financial statements. The key changes introduced by IFRS 18 relate, firstly, to the introduction of subtotals in the statement of income and the classification of expenses and revenues into the categories of operating, investing, and financing activities. Secondly, new disclosure and explanatory requirements are introduced for performance measures defined by management. Furthermore, IFRS 18 defines expanded guidelines for determining whether items should be included in the primary components of the financial statements or in the notes, as well as for the aggregation and disaggregation of items. The specific extent of the effects of the first-time application of IFRS 18 on the presentation of the PCC consolidated financial statements is currently still being analyzed.    \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-b4135c8 elementor-widget elementor-widget-spacer\" data-id=\"b4135c8\" 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-b340603 e-con-full e-flex e-con e-child\" data-id=\"b340603\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cef3d23 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"cef3d23\" 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_08.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-cef3d23 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-cef3d23 canvas {\n                display: inline-block;\n            }\n            #pdf-container-cef3d23:active {\n                cursor: grabbing;\n            }\n            #pdf-container-cef3d23::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-cef3d23::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-cef3d23::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-cef3d23\"><\/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-cef3d23\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_08.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-3740969 e-flex e-con-boxed e-con e-parent\" data-id=\"3740969\" 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-d53455c elementor-widget elementor-widget-menu-anchor\" data-id=\"d53455c\" 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=\"3-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-c4da984 elementor-widget elementor-widget-heading\" data-id=\"c4da984\" 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\">(3) Scope of consolidation<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88ce053 elementor-widget elementor-widget-text-editor\" data-id=\"88ce053\" 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 consolidated financial statements of the PCC Group cover PCC SE and all material subsidiaries. Subsidiaries and associates regarded individually and in aggregate as being immaterial in terms of portraying a true and fair view of the net assets, financial position and results of operations of the Group have been omitted from the consolidation process and are recognized as financial investments in equity instruments. For a detailed schedule of shareholdings in accordance with Section 313 (2) HGB (German Commercial Code), please refer to   \n<a href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/other-disclosures\/#44-note\">Note (44)<\/a>.\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-69ec044 elementor-widget elementor-widget-spacer\" data-id=\"69ec044\" 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-a3f8e80 e-con-full e-flex e-con e-child\" data-id=\"a3f8e80\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b4f472a elementor-widget elementor-widget-pdf_table_widget\" data-id=\"b4f472a\" 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_09.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-b4f472a {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-b4f472a canvas {\n                display: inline-block;\n            }\n            #pdf-container-b4f472a:active {\n                cursor: grabbing;\n            }\n            #pdf-container-b4f472a::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-b4f472a::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-b4f472a::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-b4f472a\"><\/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-b4f472a\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_09.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-d872ba0 elementor-widget elementor-widget-spacer\" data-id=\"d872ba0\" 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-ac053d8 elementor-widget elementor-widget-text-editor\" data-id=\"ac053d8\" 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 fiscal 2025, Enerion Sp. z o.o., Brzeg Dolny (Poland), was added to the scope of consolidation in the Trading &#038; Services segment. S.C. EURO-Urethane S.R.L., R\u00e2mnicu V\u00e2lcea (Romania), was removed from the scope of consolidation. Another departure from the scope of consolidation resulted from the merger of PCC Insulations GmbH, Duisburg, into PCC SE.  \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5a39b26 e-flex e-con-boxed e-con e-parent\" data-id=\"5a39b26\" 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-4a0d15b elementor-widget elementor-widget-menu-anchor\" data-id=\"4a0d15b\" 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=\"4-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-20907e6 elementor-widget elementor-widget-heading\" data-id=\"20907e6\" 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<h4 class=\"elementor-heading-title elementor-size-default\">(4) Consolidation methods<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8669c7d elementor-widget elementor-widget-text-editor\" data-id=\"8669c7d\" 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 consolidated financial statements of the PCC Group include the separate financial statements of PCC SE and all material German and international subsidiaries over which PCC SE exercises control, prepared on the basis of uniform accounting and valuation policies.<br><\/br>\n\nThe subsidiaries are fully consolidated from the date of acquisition. The date of acquisition is the date on which the parent company gains control of these Group companies. Subsidiaries are included in the consolidated financial statements until control of these companies is no longer exercised.  <br><\/br>\n\nThe acquisition of subsidiaries is accounted for using the purchase method. The consideration transferred in the course of a business combination is measured at fair value. This is determined from the aggregate of the fair values of the assets transferred, liabilities assumed from the former owners of the acquiree, and equity instruments issued by the Group in exchange for control of the acquiree. Any transaction costs associated with the business combination are recognized through profit or loss.  <br><\/br>\n\nThe purchase price is allocated to the acquired assets and liabilities at the date of initial consolidation. If this allocation results in a positive difference between the acquisition cost and the pro rata net assets acquired, this difference is capitalized as goodwill. In the event of a negative difference, this is immediately recognized as income in the statement of income. Any goodwill arising is tested for impairment at least once a year. Further details are provided in <a href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/notes-to-individual-items-of-the-consolidated-balance-sheet\/#19-note\">Note (19)<\/a>.  <br><\/br>\n\nAll intercompany receivables and payables as well as income and expenses are eliminated in the course of consolidation. Intercompany profits and losses, if material, are eliminated. <br><\/br>\n\nInvestments in associated companies and joint ventures accounted for using the equity method are recognized in the consolidated balance sheet at cost. In subsequent periods, the equity method carrying amount is adjusted to reflect the Group\u2019s share of net income and dividends received. Any difference arising on initial consolidation is recognized using the equity method. The Group assesses at each reporting date whether there is any indication that an investment in an associate or joint venture may be impaired. If this is the case, the difference between the carrying amount and the recoverable amount is recognized as an impairment loss and included in result from investments accounted for using the equity method in the consolidated statement of income.    \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-e81b207 e-flex e-con-boxed e-con e-parent\" data-id=\"e81b207\" 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-625cf97 elementor-widget elementor-widget-menu-anchor\" data-id=\"625cf97\" 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=\"5-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-fbe31ee elementor-widget elementor-widget-heading\" data-id=\"fbe31ee\" 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<h5 class=\"elementor-heading-title elementor-size-default\">(5) Explanatory notes to the accounting and valuation methods<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f37030 elementor-widget elementor-widget-text-editor\" data-id=\"1f37030\" 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>Factors influencing the financial statements<\/strong><br>\nThe PCC Group\u2019s business performance in fiscal 2025 was shaped by the weak economic conditions prevailing in Germany and throughout the European Union \u2013 our primary markets. This was compounded by persisting intense competitive pressure from the Far East, particularly from China. The high energy and labor costs in Europe combined with the Chinese export offensive led to historically low capacity utilization rates in the European chemical industry. Furthermore, the ongoing geopolitical uncertainties caused by the war in Ukraine and the Middle East conflict continued to weigh on the European economy and, consequently, on the PCC Group\u2019s business activities.   <br><\/br>\n\nThe political realignment in the USA, particularly the US government\u2019s tariff policy, which has vacillated back and forth for long stretches, had an additional negative impact on the European and global economies, which in turn led to disruptions in global capital markets and exchange rates. The PCC Group\u2019s share of revenue generated in the USA is approximately 4 %. The majority of this comes from the direct domestic business of the local unit operating in the surfactants and ethoxylates sectors. We therefore assume that the direct impact of the new tariffs of the US government on the PCC Group\u2019s operating business will likely remain manageable. That said, the full impact of tariffs and counter-tariffs on the PCC Group is currently difficult to assess. Indirect effects, however, are particularly noticeable in the Silicon &#038; Derivatives segment. The trade conflicts between the USA and China, which have intensified since spring 2025, have shaped global commodity flows.    As a result of drastically increased US tariffs, ever-larger quantities of chemical precursors and silicon metal were diverted from China to Europe. The resulting further sharp decline in silicon metal prices in Europe subsequently made economic production no longer viable. As a result, silicon production in Iceland has been provisionally suspended since July 2025.  \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-5aa22e3 elementor-widget elementor-widget-text-editor\" data-id=\"5aa22e3\" 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>Property, plant and equipment<\/strong><br>\nIn accordance with IAS 16, property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Costs for the repair and maintenance of property, plant and equipment are generally expensed. Regular maintenance of major items of plant and equipment or the replacement of significant components is capitalized where an additional future benefit is expected. Scheduled straight-line depreciation is based on the following useful lives:   \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-2da8740 elementor-widget elementor-widget-spacer\" data-id=\"2da8740\" 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-84ad904 e-con-full e-flex e-con e-child\" data-id=\"84ad904\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d87ae37 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"d87ae37\" 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_10.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-d87ae37 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-d87ae37 canvas {\n                display: inline-block;\n            }\n            #pdf-container-d87ae37:active {\n                cursor: grabbing;\n            }\n            #pdf-container-d87ae37::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-d87ae37::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-d87ae37::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-d87ae37\"><\/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-d87ae37\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_10.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-2a4654a elementor-widget elementor-widget-spacer\" data-id=\"2a4654a\" 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-732ddfa elementor-widget elementor-widget-text-editor\" data-id=\"732ddfa\" 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 useful lives indicate the range between the de facto shortest and the de facto longest useful life. For the useful lives of right-of-use assets, please refer to <a href=\"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/consolidated-financial-statements\/notes-to-the-consolidated-financial-statements\/notes-to-individual-items-of-the-consolidated-balance-sheet\/#21-note\">Note (21)<\/a>. <br><\/br>\n\nAn item of property, plant and equipment is derecognized either upon disposal or when no further economic benefit is expected from its continued use. Any gain or loss arising on derecognition of the asset is measured as the difference between the net disposal proceeds and the carrying amount of the asset, and is recognized in the statement of income in the period the asset is derecognized. Reversals of impairment losses are recognized in other operating income.  <br><\/br>\n\nResidual values, useful lives and depreciation methods are reviewed at the end of each fiscal year and adjusted if necessary.\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-d8d41ed elementor-widget elementor-widget-text-editor\" data-id=\"d8d41ed\" 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>Intangible assets<\/strong><br>\nAcquired intangible assets are carried at cost less accumulated amortization and accumulated impairment losses. If the requirements for capitalization of internally generated intangible assets are met, these are also capitalized. Intangible assets are generally amortized on a straight-line basis over their estimated useful lives. Useful lives of between two and 44 years are assumed. With the exception of goodwill, intangible assets capitalized within the Group have finite useful lives. The intangible assets of the PCC Group mainly comprise concessions for the operation of technical facilities.    <br><\/br>\n\nResearch and development costs are recognized in accordance with IAS 38 Intangible Assets. Costs for research activities are recognized as expenses in the period in which they are incurred. An internally generated intangible asset resulting from the development activities of an internal project qualifies for capitalization if the completion of the intangible asset is technically feasible and internal use or sale is possible. In addition, there must be the intention and the financial resources to complete, use or sell the intangible asset. These assessments require far-reaching estimates by the respective management. Expenditure attributable to the intangible asset during its development must also be reliably determinable.   \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-8a85e02 elementor-widget elementor-widget-text-editor\" data-id=\"8a85e02\" 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>Inventories<\/strong><br>\nInventories are those assets that are consumed in the production process or in the rendering of services (raw materials and supplies), that are in the process of production (work in progress) or that are held for sale in the ordinary course of business (finished goods and merchandise). They are initially recognized at acquisition or production cost. Inventories are subsequently measured at the lower of cost \u2013 determined using the first-in, first-out (FIFO) method or the weighted average cost method \u2013 and net realizable value, which is the estimated selling price in the ordinary course of business, minus the estimated costs of completion still to be incurred, and minus selling expenses.  \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-1a8926d elementor-widget elementor-widget-text-editor\" data-id=\"1a8926d\" 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>Borrowing costs<\/strong><br>\nDirectly attributable borrowing costs incurred in the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset. They are capitalized until the asset is ready for its intended use. The relevant borrowing costs are recognized using the relevant interest rate. All other borrowing costs are expensed in the period in which they are incurred.  \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-5c7f128 elementor-widget elementor-widget-text-editor\" data-id=\"5c7f128\" 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>Financial instruments<\/strong>\nFinancial assets and financial liabilities are recognized in the consolidated balance sheet when a PCC Group company becomes a party to a financial instrument. Financial assets are derecognized once the contractual rights to cash flows from the financial assets expire or the financial assets are transferred with all material risks and rewards. Financial liabilities are derecognized when the contractual obligations are discharged, canceled or expire. Regular-way purchases and sales of financial instruments are generally recognized on the transaction date, which is the date that the Group commits to purchase or sell the instrument.   \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-1839549 elementor-widget elementor-widget-text-editor\" data-id=\"1839549\" 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>Classification and measurement of financial instruments per IFRS 9<\/strong>\nIn accordance with IFRS 9, financial assets and liabilities are classified into the following categories based on their nature and their intended use:\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-51b80d3 elementor-widget elementor-widget-text-editor\" data-id=\"51b80d3\" 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<ul>\n \t<li><strong>Financial instruments measured at amortized cost (aC)<\/strong><br>\nFinancial assets are classified as aC if they are held within a business model that is designed to collect the contractual cash flows (strict business model condition). In addition, the asset must be structured in such a way that it only leads to fixed-term cash flows that represent interest and principal payments on the outstanding nominal amount (cash flow condition). Financial liabilities are generally classified as aC unless they are financial liabilities held exclusively for trading purposes, derivatives or liabilities for which the fair value option has been exercised.   Within the PCC Group, the measurement category aC includes trade accounts receivable, as well as receivables and loans disclosed under other receivables and other assets, and other financial assets. Cash and cash equivalents are also included in this measurement category. All financial liabilities, with the exception of derivatives that are measured at fair value through profit or loss, are also measured at amortized cost. Financial assets and liabilities are initially measured at fair value, which is generally the nominal value of the receivable or the loan amount granted.    Non-interest-bearing or low-interest-bearing non-current receivables and loans are carried at their present value. Transaction costs directly attributable to the acquisition or issue of financial assets and financial liabilities are added to the fair value of the financial assets or financial liabilities. Subsequent measurement of financial instruments classified as aC is at amortized cost using the effective interest method. Changes in value are recognized in the statement of income. <\/li><br>\n<li><strong>Financial assets measured at fair value through other comprehensive income (FVtOCI)<\/strong><br>\nFinancial assets are classified as FVtOCI if they are held in a business model for the purpose of both collecting contractual cash flows and making sales (moderated business model condition). In addition, the asset must be structured in such a way that it only leads to fixed-term cash flows that represent interest and principal payments for a capital transfer (cash flow condition). Equity instruments never satisfy the cash flow condition, but may be voluntarily measured as FVtOCI. Within the PCC Group, investments in subsidiaries that are not fully consolidated for reasons of materiality are allocated to the FVtOCI measurement category. This category also includes investments in associates and joint ventures that are included in the consolidated financial statements using the equity method.    In principle, financial liabilities cannot be allocated to the FVtOCI category. They are initially recognized at fair value, which in most cases corresponds to cost. Transaction costs directly attributable to the acquisition or issuance of financial assets are added to the fair value of the financial assets. Changes in fair value on subsequent measurement are deferred directly in equity and only recognized in profit or loss on disposal (recycling). Conversely, amounts recognized for equity instruments remain in equity upon disposal of the financial instrument (no recycling).    <\/li><br>\n<li><strong>Financial instruments measured at fair value through profit or loss (FVtPL)<\/strong><br>\nAll financial instruments that do not meet the conditions for inclusion in the first two categories are generally allocated to the FVtPL category. These include equity instruments, unless they have been voluntarily allocated to the FVtOCI category, derivatives and all other financial instruments held for trading purposes. In addition and in certain cases, the fair value option for the classification of financial instruments can be exercised voluntarily, but then irrevocably. The initial and subsequent measurement of financial instruments in the FVtPL category is at fair value. Changes in value are recognized in the statement of income. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities are immediately recognized through profit or loss.     <\/li><\/ul>\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-aa0fe21 elementor-widget elementor-widget-text-editor\" data-id=\"aa0fe21\" 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 are offset and presented as a net amount in the balance sheet only when there is a legally enforceable the right to, and the intention to, settle on a net basis, or to realize the asset and settle the liability simultaneously.\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-0dfed3f elementor-widget elementor-widget-text-editor\" data-id=\"0dfed3f\" 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>Impairment of financial assets<\/strong><br>\nAn accounting provision for expected impairment losses is recognized in respect of financial assets measured at amortized cost. For trade accounts receivable, expected default rates are determined on the basis of historical defaults and future estimates (Stage 2 of the impairment model). In order to take into account the business model, the respective customer structure and the economic environment of the geographic region, specific default rates are determined for the individual Group companies. Additional differentiation is made by classifying the receivables portfolio on the basis of the length of time overdue. If there is objective evidence that trade accounts receivable or other financial assets measured at amortized cost are impaired, they are tested individually for impairment (Stage 3 of the impairment model).    This is the case, for example, if insolvency proceedings have been opened against the debtor of a receivable or there is other substantial evidence of impairment, such as a significant deterioration in creditworthiness. Impairment losses are recognized in an allowance account on the asset side of the balance sheet. The gross value and the allowance (value adjustment) are not derecognized until the receivable is uncollectible. For reasons of materiality, no expected impairment losses are recognized in respect of contract assets or other financial assets.   <br><\/br>\n\nDerivative financial instruments are initially measured at the fair value attributable to them on the date on which the contract is entered into. Subsequent measurement is also at fair value as of the respective reporting date. The method of recognizing gains and losses depends on whether the derivative financial instrument has been designated as a hedging instrument and, if so, on the nature of the hedged item.   The PCC Group designates certain derivative financial instruments either (a) as a hedge of the fair value of a recognized asset or liability or an unrecognized firm commitment (fair value hedge), (b) as a hedge of the exposure to variability in cash flows associated with a recognized asset or liability or an anticipated highly probable forecasted transaction (cash flow hedge), or (c) as a hedge of a net investment in a foreign operation (net investment hedge).<br><\/br>\n\nAt the closure of the transaction, the Group documents the hedging relationship between the hedging instrument and the hedged item, the objective of its risk management and the underlying strategy for undertaking the hedge. In addition, at the inception of the hedge and on an ongoing basis, the Group documents its assessment of whether the derivatives that are used in hedging transactions extensively compensate for changes in the fair values or cash flows of hedged items. <br><\/br>\n\n\nThe effective portion of changes in the fair value of derivatives designated as cash flow hedges is recognized in other comprehensive income. The ineffective portion of such changes in fair value is recognized directly through profit or loss. Amounts deferred in equity are reclassified to the statement of income in the period in which the hedged item affects profit or loss.  <br><\/br>\n\nWhen a hedge expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, the cumulative gain or loss held in equity at that time remains in equity and is not recognized in the statement of income until the originally hedged future transaction occurs. If the future transaction is no longer expected to occur, the cumulative gain or loss held in equity is immediately transferred to 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-44cfc4c elementor-widget elementor-widget-text-editor\" data-id=\"44cfc4c\" 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>Trade accounts receivable<\/strong><br>\nTrade accounts receivable are stated at amortized cost. Receivables sold under open factoring arrangements are derecognized at the time of purchase by the factor. Only the remaining pro rata amount that is not purchased continues to be recognized in receivables. In the case of silent factoring, the receivable is not derecognized until the factor makes payment. At the same time, a receivable is recognized in a settlement account with the factor under other assets.    \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-3bf6d83 elementor-widget elementor-widget-text-editor\" data-id=\"3bf6d83\" 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>Cash and cash equivalents<\/strong> \nCash and cash equivalents comprise cash on hand and bank credit balances with an original term of up to three months, as well as highly liquid short-term financial investments. They are measured at amortized cost.\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-39847e1 elementor-widget elementor-widget-text-editor\" data-id=\"39847e1\" 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>Trade accounts payable, overdraft facilities<\/strong>\nTrade accounts payable, overdrafts, and other liabilities are recognized at their repayment amount.\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-06129d0 elementor-widget elementor-widget-text-editor\" data-id=\"06129d0\" 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>Provisions<\/strong><br>\nProvisions are established when the Group has a present legal or constructive obligation to a third party as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Non-current provisions are recognized at the present value of future outflows of resources and accrue interest over the period until the expected claim is made. \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-ec29b9c elementor-widget elementor-widget-text-editor\" data-id=\"ec29b9c\" 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>Taxes on income<\/strong><br>\nThe income tax expense comprises the current tax expense and deferred taxes. The current tax expense is calculated on the basis of taxable income.\n\nThe PCC Group recognizes deferred taxes in accordance with IAS 12 for differences between the carrying amounts of assets and liabilities in the balance sheet and their tax base. Deferred tax liabilities and deferred tax assets are essentially recognized for all taxable temporary differences. Deferred tax assets are recognized on unused tax losses carried forward only to the extent that it is probable that taxable profit will be available against which such claims can be utilized. The carrying amount of deferred income tax assets is examined on each closing date and reduced to the extent that it is no longer probable that sufficient income will be available against which the deferred tax asset can be wholly or partially realized.     Deferred income tax claims not recognized in an earlier period are reassessed at each closing date and recognized to the extent that it currently appears probable that future taxable profits will allow realization of the deferred tax asset.<br><\/br>\n\nDeferred tax liabilities and deferred tax assets are netted where there is a legally enforceable right to do so and where they involve the same tax jurisdiction. Current taxes are calculated on the basis of the taxable income of the company for the reporting period. The tax rates applied for each company are those applicable as of the closing 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-5c77095 elementor-widget elementor-widget-text-editor\" data-id=\"5c77095\" 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>Leases<\/strong><br>\nLease agreements are accounted for in accordance with IFRS 16 Leases. A lease exists if a contract entitles the holder to use an identified asset for a specified period of time in return for payment of a consideration. <br><\/br>\n\nLeases in which the PCC Group is the lessee are accounted for using the rights-of-use model. For leases with a term of less than twelve months (short-term leases) and for leases involving low-value assets, the exemption per IFRS 16.5 is applied. The right-of-use asset and lease liability are not recognized for these leases. Instead, the payments are recognized as an expense in the statement of income on a straight-line basis. All contractually agreed payment obligations are included in the measurement of lease liabilities.   Application of the exemption allowed under IFRS 16.15 eliminates the need to distinguish between lease payments and payments for non-lease components. The existing payment obligations are discounted at the PCC Group\u2019s incremental borrowing rate where it is not possible to determine the implicit interest rate, and the present value thus determined is recognized as a lease liability. The corresponding right-of-use asset is recognized in the same amount. Initial direct costs and advance payments increase the acquisition value of the right-of-use asset, while lease incentives received reduce it. Subsequently, the right-of-use asset is depreciated on a straight-line basis over the shorter of the lease term or the useful life of the underlying asset. The lease liability is amortized using the effective interest method.    <br><\/br>\n\nContractually defined renewal, extension, purchase and termination options ensure future operational flexibility for the PCC Group when entering into lease agreements, but also require discretionary decision-making. All current knowledge and future expectations that support the exercise or non-exercise of the options are taken into account when determining the lease term. If it can be assumed with reasonable certainty that the renewal option will be exercised, the imputed term also includes such additional periods. Changes of term are considered where, over time, a change occurs in the assessment of the likelihood that the existing option will be exercised or not exercised.   \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-7e2eea9 elementor-widget elementor-widget-text-editor\" data-id=\"7e2eea9\" 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>Revenue recognition<\/strong><br>\nIn accordance with IFRS 15, the PCC Group realizes its sales revenues mainly through the sale of self-manufactured chemical products, through the trading of chemical raw materials and commodities, and through the provision of comprehensive logistics and transport services. The Group also generates revenue from electricity generation, primarily on the basis of renewable energies. <br><\/br>\n\nIn recognizing revenue, the Group follows the five-step model of IFRS 15:<br><\/br>\n\n<ol>\n<li> Identification of contracts with a customer\n<li> Identification of distinct performance obligations\n<li> Determination of the transaction price\n<li> Allocation of the transaction price to the distinct performance obligations\n<li> Revenue recognition on fulfillment of the distinct performance obligations<\/li><\/ol><br>\nRevenue is recognized, net of sales taxes\/value-added tax, discounts, allowances and rebates, when, or as, the customer obtains control of and benefits from the goods and\/or services. The majority of the performance obligations of the PCC Group are performed at a point in time. The relatively minor recognition of revenue over a period of time occurs primarily in the sale of electricity and the rendering of services. In principle, the sales transactions of the PCC Group are not based on any significant financing component. The average payment term is 13 days. The PCC Group applies various common Incoterms, the choice of which depends on the product and the terms and conditions of sale and supply, and also the need to control the transfer of risk.     <br><\/br>\n\nThe Group recognizes contractual liabilities in respect of performance obligations that have not yet been fulfilled but for which the customer has already provided consideration, and discloses these amounts under other liabilities in the balance sheet. However, when the Group satisfies a performance obligation, the Group recognizes the right to consideration as a contract asset in other receivables and other assets, unless said claim is not linked solely to the passage of time. <br><\/br>\n\nInterest income is recognized pro rata temporis using the effective interest method. Dividend income is recognized at the time when the right to receive the payment arises. \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-1f7d1c0 elementor-widget elementor-widget-text-editor\" data-id=\"1f7d1c0\" 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>Government grants<\/strong><br>\nGovernment grants pursuant to IAS 20 are recognized in the consolidated financial statements of the PCC Group as deferred income to the extent that it is certain that the conditions attached to the grants will be fulfilled and that the grants will actually be received. Release to the statement of income occurs through other operating income over the depreciable life of the related asset. \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-27defdc elementor-widget elementor-widget-text-editor\" data-id=\"27defdc\" 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>Exploration and evaluation of mineral resources<\/strong><br>\nExpenditure on successful exploration wells and on non-successful development wells is capitalized in accordance with IFRS 6. These expenditures are generally recognized as assets under construction until exploration is completed. When a positive discovery is made and production begins, the expenditure is reclassified to plant and machinery. The capitalized expenses are amortized over the maximum number of production years determined by expert appraisal. Should an annual review of the discoveries result in a change in this period, the amortization\/depreciation period is adjusted accordingly. If, in subsequent periods, it is also determined that the finds are unusable, an impairment loss is recognized.   \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-f7cab68 elementor-widget elementor-widget-text-editor\" data-id=\"f7cab68\" 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>Foreign currency translation<\/strong><br>\nThe consolidated financial statements are presented in euros, the functional currency of the parent company. Each entity within the Group determines its own functional currency. Items included in the financial statements of each entity are measured using that functional currency. Foreign currency transactions are initially translated into the functional currency at the spot rate prevailing at the date of the transaction.  <br><\/br>\n\nMonetary assets and liabilities denominated in foreign currencies are translated into the functional currency at each reporting date using the spot exchange rate at that date. All exchange differences are recognized through profit or loss. Exceptions to this rule are translation differences arising from foreign currency borrowings to the extent that they are accounted for as hedges of a net investment in a foreign operation. These are deferred directly in equity until the disposal of the net investment and are only recognized in the statement of income upon such disposal. Deferred taxes arising from the translation differences of these foreign currency loans are likewise recognized directly in equity.    <br><\/br>\n\nFor entities whose functional currency is the euro, non-monetary items that are measured at historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rate applicable at the date when the fair value was determined.<br><\/br>\n\nAny assets and liabilities resulting from the acquisition of a foreign operation are recognized as assets and liabilities of the foreign operation and translated at the closing spot rate.<br><\/br>\n\nFor entities whose functional currency is not the euro, the assets and liabilities of the foreign operation are translated into euro at the closing rate. Income and expenses are translated at the weighted average exchange rate for the fiscal year. The resulting translation differences are recognized as a separate component of equity. The cumulative amount recognized in equity for a foreign operation is released to income upon disposal of that foreign operation. The exchange rates of the major currencies used in the consolidated financial statements are shown in the table below:   \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-a4af502 elementor-widget elementor-widget-spacer\" data-id=\"a4af502\" 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-3e94d74 e-con-full e-flex e-con e-child\" data-id=\"3e94d74\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f275487 elementor-widget elementor-widget-pdf_table_widget\" data-id=\"f275487\" 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_11.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-f275487 {\n                overflow-x: auto;\n                overflow-y: hidden;\n                max-width: 100%;\n                white-space: nowrap;\n                cursor: grab;\n            }\n            #pdf-container-f275487 canvas {\n                display: inline-block;\n            }\n            #pdf-container-f275487:active {\n                cursor: grabbing;\n            }\n            #pdf-container-f275487::-webkit-scrollbar {\n                height: 10px;\n            }\n            #pdf-container-f275487::-webkit-scrollbar-thumb {\n                background-color: #ff5f00;\n                border-radius: 5px;\n            }\n            #pdf-container-f275487::-webkit-scrollbar-track {\n                background-color: #f7f7f7;\n                border-radius: 5px;\n            }\n        <\/style><div id=\"pdf-container-f275487\"><\/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-f275487\");\n        pdfjsLib.getDocument(\"https:\/\/geschaeftsbericht-2025.pcc.eu\/wp-content\/uploads\/pcc\/pdf\/en\/t_a_11.pdf?v=\"+Date.now()).promise\n            .then(function(pdf){ return pdf.getPage(1); 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The main areas in which assumptions and estimates are used are in determining the useful lives of non-current assets and in the recognition and measurement of other provisions, pension provisions and taxes on income. Estimates are also used in determining lease terms and in calculating the discount rate in accounting for leases.  \nFurthermore, in order to determine whether goodwill is impaired, it is necessary to determine the value-in-use of the cash-generating unit to which the goodwill is allocated.\nThe calculation of the value-in-use requires an estimate of future cash flows from the cash-generating unit and a suitable discount rate for the present value calculation.\nIn addition, discretionary decisions, estimates and assumptions are subject to increased uncertainty, particularly due to the fluctuating and sometimes erratic development of inflation and interest rates. Further uncertainty arises from the considerable volatility witnessed on the energy markets resulting from the war in Ukraine and, since March 2026 in relation to Iran, unforeseeable supply chain disruptions, for example due to blockades of sea routes and militant attacks on merchant ships.\nEstimates are based on empirical values and other assumptions that are deemed appropriate under the given circumstances. They are reviewed on an ongoing basis, but may deviate from the actual values. Given the problems arising from the war in Ukraine, the latest conflict in Iran and other trouble spots around the world, it is difficult to predict both the economic impact generally, and specifically the duration and extent of possible effects on the net assets, financial position, results of operations and cash flows of the Group. The carrying amounts of the items affected by estimates can be found in the following sections of these Notes or in the balance sheet.   \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>(1) General disclosures PCC Societas Europaea (PCC SE) is a non-listed corporation under European law headquartered in Duisburg and the parent company of the PCC Group. Its address is Moerser Str. 149, 47198 Duisburg, Germany. PCC SE is recorded in the Commercial Register of Duisburg District Court under reference HRB 19088. The consolidated financial statements [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":5391,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-5398","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5398","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=5398"}],"version-history":[{"count":20,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5398\/revisions"}],"predecessor-version":[{"id":6972,"href":"https:\/\/geschaeftsbericht-2025.pcc.eu\/en\/wp-json\/wp\/v2\/pages\/5398\/revisions\/6972"}],"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=5398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}