PCC Rokit (PCR) Q1 2025 earnings summary

Executive summary

• Consolidated sales revenue in Q1 2025 reached 508.5 million PLN, up 3.4% year-over-year, driven by a diversified product portfolio and customer base.

• EBITDA was 57.4 million PLN, down 26% year-over-year, and net profit dropped 82–83% to 2.9 million PLN.

• The main drag on results came from lower profitability in Polyurethanes and Chlorine Derivatives, despite higher sales volumes.

• The Group maintained financial stability and continued investment projects, including expansion of membrane electrolysis and a new universal plant in Brzeg Dolny.

• The chlorinated derivatives segment remained the largest contributor but saw a significant EBITDA decline.

Financial highlights

• Revenue: 508.5 million PLN (+3.4% y/y); EBITDA: 57.4 million PLN (-26% y/y); Net profit: 2.9 million PLN (-82–83% y/y).

• Operating profit (EBIT): 18.6 million PLN, down from 26.9 million PLN year-over-year.

• Operating cash flow: 49.8 million PLN (+18.2% y/y); CAPEX: 25.4 million PLN (+3.1% y/y).

• Gross margin: 17.8% (down from 20.7% y/y); EBITDA margin: 11.3% (down from 15.8% y/y).

• Net debt/EBITDA: 1.1x, indicating a safe leverage level.

Outlook and guidance

• Optimism for polyester polyols in construction despite temporary downturn.

• The Group expects continued market challenges in 2025, requiring flexibility and focus on leveraging its diversified portfolio.

• Ongoing investment in new production capacity and innovation centers.

• No formal financial forecasts for 2025 were published.

• Management anticipates ongoing positive operating cash flows to cover investments and debt service.