PCC Q3 silicon sales plummet after BakkiSilicon halts output and seeks trade relief

PCC Bakky Silicon

PCC Q3 silicon sales plummet because PCC BakkiSilicon stopped silicon production on 20 July in Iceland. PCC Q3 silicon sales plummet as the group prioritizes cost cuts and restart conditions. Meanwhile, PCC Q3 silicon sales plummet as the company pushes for silicon metal safeguards.

Sales fell sharply for the silicon and derivatives segment inside PCC Group. Third-quarter revenue dropped to €9.2 million from €22.9 million a year earlier. January–September sales also fell to €36.6 million from €66.9 million in 2024. Therefore, the shutdown immediately hit volumes and cash generation.

Cost cuts narrow losses, but layoffs deepen the reset

EBITDA losses narrowed because the company reduced spending during the shutdown. The segment posted an EBITDA loss of €8.4 million in Q3, versus €11.5 million last year. PCC cut 80 roles after the suspension and reduced headcount again in Q3. However, the workforce actions underline how difficult the current cost base remains.

Silicon metal safeguards disappoint as import reviews continue

PCC backed EU safeguards on silicon metal, but the draft proposal raised complications. The European Commission proposal notified to the World Trade Organization on 12 November did not include silicon metal. Iceland would also face measures under that framework. Therefore, PCC also initiated an import tariff review in Iceland during Q3.

PCC says the pressure spans the EU region, not only Iceland. It claims all silicon factories in the European Union have temporarily closed for similar reasons. Meanwhile, high power costs and weak demand keep margins negative across Europe. As a result, restart decisions will hinge on energy relief and credible trade defenses.

The Metalnomist Commentary

European silicon metal will not restart at scale without predictable power pricing. Meanwhile, trade tools must protect Europe without penalizing adjacent producers like Iceland. Therefore, buyers should diversify sourcing and lock flexible contracts through 2026.