Ladies and Gentlemen,
In this, our annual report for 2023, the PCC Group looks back on a very challenging fiscal year – a year characterized by persistent economic weakness both in Germany and in the countries of the European Union, PCC’s main sales markets. Added to the mix, we had the aggressive export policies of non-European countries, especially China, coupled with inflation and interest rates at an unrelenting high level. In this difficult market environment, the three chemical-producing segments of the PCC Group together with the Logistics segment were able to successfully hold their own. However, the significant losses in the Silicon & Derivatives segment led to a pre-tax deficit in the low double-digit million euro range for the Group overall. Toward the end of the year, however, there were signs of an improvement in the market situation affecting the Silicon & Derivatives segment. Supported by the wide-ranging measures introduced in 2023 to increase productivity and reduce costs, this should result in a sustained improvement in the earnings situation in this segment going forward. The now receding inflationary pressures and the expected downturn in interest rates should also have a positive impact on future business performance to the benefit of the Group as a whole. The management of PCC SE, the executive bodies and managing directors of all our subsidiaries and, not least, all our employees across the organization have remained steadfastly committed to our business success, despite the difficulties that fiscal 2023 has thrown up. As Chairman of, and on behalf of my colleagues on, the Supervisory Board, I would like to express my great appreciation and thanks to all of you for the sterling efforts you have shown. And I would also like to express my gratitude to all our business partners and, of course, to our investors who have been so constant in the confidence they have shown in PCC over these many years.
Many of the challenges of the past fiscal year have persisted beyond the end of the period under review. These include the Russia-Ukraine war and the recent conflict in the Middle East, which could lead to renewed transportation and supply chain problems. In addition, the European economy in particular got off to a weaker start in 2024 than many experts had predicted. 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 increasing geographical expansion. As you will see from the annual report before you, the PCC Group has now commissioned its new production plant in Malaysia. This represents an important milestone for the further sustainable growth of PCC’s core business. The geographical expansion of this core business in the fast-growing US market is also to be energetically pursued in 2024. The Supervisory Board supports these plans and will continue to closely accompany PCC as it progresses all such undertakings.
Duisburg, April 2024
Kind regards,
Waldemar Preussner
Chairman of the Supervisory Board of PCC SE
Waldemar Preussner
Chairman of the Supervisory Board of PCC SE
