Ladies and Gentlemen,
In this Annual Report, the PCC Group once again looks back on a very challenging year. As in 2023, fiscal 2024 was again characterized by the ongoing economic weakness in Germany and the countries of the European Union, i.e. in the company’s main sales markets. This was compounded by the continued aggressive export policy of non-European countries, particularly China and, in the case of silicon metal, Brazil. In addition, the ongoing geopolitical crises such as the Russia-Ukraine war and the Middle East conflict, as well as increasing political uncertainty at the end of the year resulting from the change of government in the USA and the break-up of the coalition government in Germany, had a negative impact on both the European economy and trading conditions worldwide. While inflation and interest rates showed a gratifyingly downward trend, the sometimes enormous price hikes of previous years once again led to significantly higher personnel costs and expenses charged by external service providers in 2024, resulting in additional burdens for all European industry.
Despite this difficult market environment, the three chemical-producing segments of the PCC Group and the Trading & Services and Logistics segments were able to successfully hold their own. By contrast, the Silicon & Derivatives segment remained loss-making in 2024 due to persistently aggressive price competition. Although the measures introduced to increase productivity and reduce costs meant the losses in this segment were significantly lower than in the previous year, they once again led to a negative result in the low double-digit million euro range at pre-tax level for the Group as a whole. The earnings situation in the Silicon & Derivatives segment – and therefore also in the Group as a whole – should steadily improve in the coming months as a result of another extensive package of measures to optimize processes and costs, which was assembled together with an external
restructuring consultant and agreed at the beginning of 2025.
In this Annual Report, the PCC Group once again looks back on a very challenging year. As in 2023, fiscal 2024 was again characterized by the ongoing economic weakness in Germany and the countries of the European Union, i.e. in the company’s main sales markets. This was compounded by the continued aggressive export policy of non-European countries, particularly China and, in the case of silicon metal, Brazil. In addition, the ongoing geopolitical crises such as the Russia-Ukraine war and the Middle East conflict, as well as increasing political uncertainty at the end of the year resulting from the change of government in the USA and the break-up of the coalition government in Germany, had a negative impact on both the European economy and trading conditions worldwide. While inflation and interest rates showed a gratifyingly downward trend, the sometimes enormous price hikes of previous years once again led to significantly higher personnel costs and expenses charged by external service providers in 2024, resulting in additional burdens for all European industry.
Despite this difficult market environment, the three chemical-producing segments of the PCC Group and the Trading & Services and Logistics segments were able to successfully hold their own. By contrast, the Silicon & Derivatives segment remained loss-making in 2024 due to persistently aggressive price competition. Although the measures introduced to increase productivity and reduce costs meant the losses in this segment were significantly lower than in the previous year, they once again led to a negative result in the low double-digit million euro range at pre-tax level for the Group as a whole. The earnings situation in the Silicon & Derivatives segment – and therefore also in the Group as a whole – should steadily improve in the coming months as a result of another extensive package of measures to optimize processes and costs, which was assembled together with an external
restructuring consultant and agreed at the beginning of 2025.
Since going into operation in 2016,
the production plant for high-purity
monochloroacetic acid (MCAA) has
significantly extended our chlorine
value chain.
“The Supervisory Board of
PCC SE believes that the
company is well positioned
for the future, not least
due to its far-sighted investment
program of recent
years (…).”
Waldemar Preussner
Chairman of the Supervisory Board of PCC SE
Chairman of the Supervisory Board of PCC SE
The management of PCC SE including the Executive Board members and managing
directors of all subsidiaries and, not least, all Group employees have worked tirelessly
for the corporation, meeting the challenges of a difficult fiscal 2024. As Chairman of
the Supervisory Board, I would like to express my great appreciation and thanks to all
of you, also on behalf of my colleagues on the Supervisory Board. Our gratitude also goes to all our business partners and, of course, to all our investors, many of whom
have long placed their trust in PCC.
Many of the challenges of fiscal 2024 have persisted beyond the turn of the year, including the war we are witnessing in Ukraine and the conflict in the Middle East. In addition, there have been renewed threats from China toward Taiwan and, in particular, concerns about a global trade war resulting from the current policies of the new US administration. The political course of the new German government will likewise be decisive for economic development in Germany and in Europe as a whole. Nevertheless, the Supervisory Board of PCC SE believes that the company is well positioned for the future, not least due to its far-sighted investment program of recent years and the increasing geographic expansion of its core business in growth markets such as Asia and the USA. The Supervisory Board supports these growth plans and will continue to closely accompany PCC on its future path.
Many of the challenges of fiscal 2024 have persisted beyond the turn of the year, including the war we are witnessing in Ukraine and the conflict in the Middle East. In addition, there have been renewed threats from China toward Taiwan and, in particular, concerns about a global trade war resulting from the current policies of the new US administration. The political course of the new German government will likewise be decisive for economic development in Germany and in Europe as a whole. Nevertheless, the Supervisory Board of PCC SE believes that the company is well positioned for the future, not least due to its far-sighted investment program of recent years and the increasing geographic expansion of its core business in growth markets such as Asia and the USA. The Supervisory Board supports these growth plans and will continue to closely accompany PCC on its future path.
Duisburg, April 2025
Kind regards,
Waldemar Preussner
Chairman of the Supervisory Board of PCC SE
Kind regards,
Waldemar Preussner
Chairman of the Supervisory Board of PCC SE
