Poland's PCC Rokita announces fivefold net profit rise, bond issue

19 March 2013 14:31  [Source: ICIS news]

LONDON (ICIS)--Poland's PCC Rokita on Tuesday reported a more than fivefold increase in its annual net profit as it invited investors to place orders for its fourth corporate bond issue.

Net profit at the polyols producer rose to zloty (Zl) 266.4m ($83.0m, €64.2m) in 2012 from Zl 52.2m in 2011 with the company's production line investments, partly financed by previous bond issues, beginning to pay off, PCC Rokita said.

Sales revenues crossed the Zl 1bn barrier, coming in at Zl 1.1bn for 2012 against Zl 820.9m in 2011, the company said.

Operating profit for 2012 was Zl 73.9m compared to Zl 69.2m in the previous year, it added.

The new bond issue was expected to raise Zl 25m from three-year bonds worth Zl 100 each and bearing interest of 7.5% per annum, PCC Rokita said.

The proceeds would be ploughed into investments in polyols, chlorine and phosphorous chemical production requirements, the company added.

In April last year, PCC Rokita opened a fourth polyols production line which raised its polyols capacity to 100,000 tonnes/year from 70,000 tonnes/year.

PCC Rokita is owned by Germany's PCC chemicals, energy and logistics group and is based in Brzeg Dolny, southwestern Poland.

Apart from polyols, it produces chlorobenzene, chlor-alkali, surfactants, phosphorous derivatives and napthalene derivatives.

($1 = €0.77)
($1 = Zl 3.21, €1 = Zl 4.15)

By: Will Conroy
+44 20 8652 3214

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