The PCC EXOL Group closed the first three quarters of this year with a record revenue from sales of nearly PLN 575 million and a record level of EBITDA of nearly PLN 60 million. The gross margin on sales reached nearly 18%.
The increase in revenue is a result of 8% higher volumes and higher selling prices, which follow the prices of raw materials.
The driving force for such good results was growing sales. In terms of revenue, the third quarter of 2021 was undoubtedly the best quarter in the history of PCC EXOL, according to Dariusz Ciesielski, President of the Management Board of PCC EXOL. Sales in the group of surfactants for industrial applications increased significantly. In this group of products, we achieved a nearly 20% increase in revenues compared to the same period last year. In the third quarter of this year alone this was an increase by over 40% in relation to the third quarter of the previous year, according to Dariusz Ciesielski. He added that the equally good was the situation in the group of products for use in cosmetics and detergents.
The PCC EXOL Group achieved revenues of nearly PLN 230 million in terms of products for industrial applications. In the group of products for cosmetics and detergents it generated consolidated revenues of nearly 240 million PLN, which means an increase of about 25% compared to the first three quarters of last year.
The consolidated EBITDA of the PCC EXOL Group for the third quarter of 2021 was about 44% higher in relation to the comparable period of 2020, and nearly 26% in relation to the second quarter of 2021. As a result, the net profit after the first three quarters of 2021 closed at the historically highest amount of over PLN 35 million, 14% higher than the result of first three quarters of 2020.
For many months we have been observing a strong upward trend in the prices of chemical and oleochemical raw materials. There are also increased problems with the availability of some of them on the European market, According to Rafał Zdon, Vice-President of the Management Board of PCC EXOL. He added that, despite this situation, we maintained the continuity of production and sales and, as a result, achieved very good results.
Investments are an important strategic element of the company’s development. Thanks to the commissioning of the installation for the production of high-molar oxyalkylates, the company recorded increased sales of specialised surfactants, mainly low-foaming, as well as defoaming products and semi-finished products. Products from this production line are intended for such industries as: industrial cleaning, paper production and food processing.
At the pilot installation, in turn, the company began further development of a range of specialist surfactants intended for detergent and cosmetics applications as well as for a number of industrial applications. At the same time, the installation for the production of phosphate esters, currently producing trial batches, is undergoing technological start-up.
Moreover, further investment decisions were made. The company will expand its ethoxylate plant in Płock, thanks to which the production capacity at that site is to be doubled. The investment will result in an increase in the volume of offered products and an expansion of the product portfolio. The production is to include non-ionic surfactants with a wide range of applications, such as in the production of cosmetics, cleaning agents, paints and coatings, lubricants, and in the personal care, textile, metalworking, plant protection and pharmaceutical industries.
PCC EXOL has been committed to sustainable growth for years and is currently developing a range of products that fit the trend for Green Chemistry, offering customers a new group of GREENLINE products. It allows the company to be active in the area of sustainable production.
PCC EXOL shares and bonds are listed on the Warsaw Stock Exchange. The company is appreciated as a company operating in line with the principles of sustainable business, which allows the meeting of the high requirements of global corporations. The company has been awarded a Gold Medal by EcoVadis for its commitment to Corporate Social Responsibility, granted to companies of good repute, running business activities ethically and approaching customers, suppliers or other contractors in a fair and reliable manner.
