At € 993.6 million, Group sales in fiscal 2023 fell just short of the billion euro mark and were € 331.0 million or 25.0 % below the previous year’s record sales of € 1,324.7 million, figures that were clearly below our expectations for the year under review. The main reasons for these developments lay in the average selling prices for many of the commodities that we produce, which were significantly below the levels anticipated, as well as lower sales volumes as a result of weak demand rooted in the prevailing economic situation. The significant increase in inventories and stock levels at European producers in the previous year led to a marked decline in sales volumes in fiscal 2023.
All six operating segments of the PCC Group were affected by this decline in sales. The main revenue driver was the Chlorine & Derivatives segment. This segment also made by far the largest positive contribution to Group earnings in 2023, followed by the Surfactants & Derivatives and Logistics segments. The Polyols & Derivatives and Trading & Services segments recorded slight losses. The Silicon & Derivatives segment closed the fiscal year with a loss in the high double-digit million euro range. As a consequence, the Group’s consolidated net income result also slipped into the red in the low double-digit millions. Details of the various business developments in the individual segments can be found in the following analysis.