The PCC EXOL Group published excellent results for the first quarter of this year. Revenue and financial results of the Group reached unprecedented levels.
The consolidated net profit reached a record level of nearly PLN 40 million and thus increased by 243% compared to the same period last year. The consolidated EBITDA profit was also record-breaking. It reached over PLN 53 million, which is a 193% increase compared to the first quarter of 2021. Revenues of nearly PLN 300 million represent an increase of 60% over the comparable period. In turn, thanks to the start-up of the oxyalkylates plant last year, the Group also recorded a several per cent increase in sales volume.
The results of the first quarter of this year the PCC EXOL Group topped its previous records. Such exceptionally good results translated into an outstanding gross margin on sales at 24% – says Dariusz Ciesielski, CEO of PCC EXOL. Despite a lot of turbulence in the surfactant market, we have maintained continuity in production and sales of products, ensuring uninterrupted deliveries to our customers, which was not always the case among surfactant producers – he adds. We recorded significant sales growth, both in the group of surfactants for industrial applications and for use in cosmetics and detergents – Dariusz Ciesielski concludes.
Sales of surfactants for industrial applications increased by 55% compared to the same period last year and amounted to nearly PLN 110 million. The company observed increased demand from customers in certain industrial applications, such as industrial cleaning and the defoamer manufacturing market.
The cosmetics and detergents product group recorded its highest historical revenue level of nearly PLN 140 million, representing an increase of 74% compared to the first quarter of 2021.
Another strategic element of the Company’s development includes investments. Works were carried out on the construction of the second technological line of the Ethoxylation II plant in Płock and the expansion of the warehouse base of this plant. PCC EXOL plans to double production capacity in this location, and thus increase the volume of products offered by the Company and expand its product portfolio.
Meanwhile, the PCC BD company, whose partners are PCC EXOL and PCC Rokita, implemented an investment project to build a new universal plant in Brzeg Dolny. The new plant will produce a wide range of ethoxylates and polyether polyols, which can be used in many industries. Products from this facility are expected to have lower VOC emissions, a shorter and low-waste production process and some products will have a lower carbon footprint.
It is worth emphasising that in the first quarter of 2022, we achieved absolutely record results, despite the constantly rising prices and limited availability of a number of basic raw materials. We successfully continued our strategy of improving profitability through increased sales of specialised products, which are generally characterised by higher margins, and at the same time we improved the profitability of bulk products – says Rafał Zdon, Vice-President of the Company’s Management Board. For years we have also been building a rich and diversified portfolio of products called PCC Greenline®. In the first quarter their share in the volume of sales amounted to 68%, and in terms of value they accounted for 66% of the Company’s product sales.
PCC EXOL’s green products, which generated the highest sales, are mainly substances based on natural fatty alcohols with a high degree of biodegradability. They are predominantly base materials and additives for cosmetics, household chemicals and chemicals for professional use in various industries. PCC EXOL also offers hypoallergenic products, as well as alternative products to SLES/SLS surfactants.
PCC Greenline® products are part of the green chemistry trend, which focuses on natural raw material composition and a high natural origin index, a high degree of biodegradability, low VOC content, no parabens, alkylphenols or solvents, low CO2 emissions and no animal testing, no allergens, no carcinogens and many others.
The involvement of PCC EXOL in the area of sustainable production allows it to enter new sales markets and win new, demanding customers, including international organisations with a global reach. Crucially, the production processes of PCC Greenline® products use almost exclusively green energy, thanks to RES. PCC EXOL shares and bonds are listed on the Warsaw Stock Exchange. The company is appreciated for operating in accordance with the principles of sustainable business, which allows it to meet the high requirements of global corporations. For another consecutive year, the company has achieved the gold level of EcoVadis corporate social responsibility, awarded to entities with an unblemished reputation, ethical conduct of business and fair and honest approach to customers, suppliers and other contractors.
