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PCAS
Earnings Release • Nov 5, 2020
1590_iss_2020-11-05_7a14eb99-2fec-4fa7-82a6-ea59dac70c74.pdf
Earnings Release
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Ecully; November 5, 2020
NET SALES AS OF SEPTEMBER 30, 2020
PCAS (Euronext Paris: PCA), a specialist in developing and producing complex molecules for life sciences and innovative technologies, has announced the publication of its net sales as at September 30, 2020.
| In millions of euros | 2020 | 2019 | % change |
2020 At a constant exchange rate |
% change |
|---|---|---|---|---|---|
| Net sales as of 30 September | 141.3 | 145.6 | -3.0% | 141.3 | -3.0% |
| Pharmaceutical Synthesis | 96.8 | 89.1 | 8.6% | 96.6 | 8.5% |
| Fine Specialty Chemicals | 44.5 | 56.5 | -21.3% | 44.6 | -21.0% |
Pharmaceutical Synthesis
The Pharmaceutical Synthesis business in Health generated €96.8 million, up 8.6% compared to 2019 (+8.5% at a constant exchange rate). This growth can mainly be attributed to two effects: (i) a greater operational performance at one of our sites in the Greater Paris region and (ii) a fast mobilization of the PCAS Pharmaceutical Synthesis division in response to the health crisis caused by Covid-19, especially by producing a hand sanitizer solution marketed under the Naaha brand.
Fine Specialty Chemicals
Net sales of fine specialty chemicals amounted to €44.5 million, which was down 21.3% compared to 2019 (-21.0% at a constant exchange rate). The Electronics business is well resisting against the crisis, however the demand in the Lubricants and Fine Chemicals activities has fallen significantly. The Lubricants business in particular has been severely affected by the health crisis.
Outlook
As mentioned in our previous press releases since late March 2020, the global health crisis relating to the coronavirus is changing by the day, and there are still a lot of uncertainties regarding its duration, its extent and its effects on companies' production lines and consumption in general.
To date, the PCAS Group has not seen any major impacts on its business activities and earnings except for the significant fall in demand for Lubricants and the delay in commissioning the new production unit in Villeneuve-la-Garenne, which was achieved mid-October 2020. The delay in commissioning the production unit will have the effect of carrying forward approximately €5 million of net sales to 2021. In any case, it is still hard to anticipate the potential impacts in the medium term. This crisis calls for cautious measures. Due to the exceptional circumstances, the Group has suspended its financial targets and its strategic business objectives until the situation becomes clearer.
NEXT FINANCIAL DISCLOSURE: Net sales at December 31, 2020 on January 28, 2021
ABOUT PCAS
PCAS specializes in the development and production of complex molecules for life sciences and innovative technologies. With 10% of its net sales earmarked for R&D and a large international footprint, PCAS is the preferred industrial partner for market-leading major global groups. Boasting especially high standards, the company offers a growing range of proprietary products and solutions in leading-edge segments. PCAS generated net sales of €200.9 million in 2019 and employs close to 1 100 people in six countries.
To find out more about PCAS: www.pcas.com
Tél. : +33 1 69 79 60 00 www.pcas.com
PCAS Newcap
Pierre Luzeau / Eric Moissenot Emmanuel Huynh / Louis-Victor Delouvrier NewCap Financial communication and investor Tél. : +33 1 44 71 98 53 [email protected]