PCC Rokit (PCR) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 3.1% to PLN 1,415.2m, EBITDA increased 21.4% to PLN 241.1m and net income rose 126.5% to PLN 92.4m.

• Polyurethanes led earnings growth, while chlorinated derivatives weakened; diversification supported results amid weak demand and macroeconomic uncertainty.

• The outlook remained cautious, with limited signs of industrial demand recovery and continued geopolitical and economic uncertainty.

Financial highlights

• 9M gross profit reached PLN 264.8m, up 11.4%; gross margin increased to 18.7% from 17.3%.

• 9M EBIT rose 55.8% to PLN 127.7m; EBITDA was PLN 241.1m and net income PLN 92.4m.

• Q3 revenue was PLN 470.7m versus PLN 414.5m YoY, while EBITDA fell to PLN 62.2m from PLN 80.3m and net income to PLN 13.1m from PLN 32.6m.

• 9M operating cash flow was PLN 208.3m; investing and financing cash flows were -PLN 81.0m and -PLN 97.2m, respectively.

• EPS was PLN 4.56 versus PLN 2.06; net cash increased PLN 30.1m in 9M.

Outlook and guidance

• No 2026 financial forecast was issued; operating cash flow was expected to fund operations, investment spending and debt service, subject to market conditions.

• Q4 polyurethane prospects remained cautious, with no clear durable European demand recovery; oversupply, imports and high costs continued to pressure prices and margins.

• Possible provisional EU anti-dumping duties on selected Chinese polyether polyols were not expected before Q1 2027; impact remained limited through Q3.

• The Brzeg Dolny plant project is planned for completion by end-2028, with estimated capex of PLN 842m ±15%; staging remains possible as market conditions change.