Siam City Cement Co sees annual 3Q gains, Thailand

Siam City Cement Co sees annual 3Q gains, Thailand
Published: 04 November 2013

Tagged Under: Thailand Siam City Cement 

Siam City Cement, Thailand’s second-largest cement producer, reported a 53 per cent rise in net profit for the third quarter of 2013, thanks to solid sales, higher prices and energy savings in its production process.

Sales rose 14.5 per cent YoY due to strong cement and ready-mix concrete sales. Gross margins increase from 41.1 per cent in 3Q12 to 45.6 per cent in 3Q13, mainly due to improved cement margins on the back of a THB100-15/t price hike, lower coal prices and energy savings from waste heat recovery and alternative fuels.

However, on a QoQ basis, net profit declined by 25 per cent mainly due to seasonal factors resulting in lower cement sales (-1.4 per cent QoQ) and a narrowing of gross margins from 48.1 per cent in 2Q13 to 45.6 per cent.