SCG cement revenues up 6%

SCG cement revenues up 6%
24 January 2018

Thai conglomerate Siam Cement Group (SCG) saw a 14 per cent YoY rise in consolidated sales in 4Q17 to THB113.4bn, as growth in the Packaging business offset a slight decline in the Chemicals division, reports the company. Consolidated EBITDA advanced by seven per cent YoY to THB26.593bn.

Revenues from SCG’s Cement-Building Materials in 4Q17 increased six per cent YoY to THB43.372bn due to the contribution of the expanded ASEAN operations. However, EBITDA was impacted by the weakness in the domestic housing sector and declined by five per cent YoY to THB4.893bn. Profitability advanced 18 per cent YoY to THB1.231bn due to a change in asset useful life in the 1Q17. However, the decline in the building materials and ceramics segments led to a 30 per cent QoQ drop.

On a full-year basis, FY2017 cement and building materials revenues and EBITDA reflected the 4Q17 trend. Sales revenues increased by three per cent YoY to THB175.255bn but EBITDA decreased by six per cent to THB22.319bn. Profit fell 15 per cent YoY to THB7.230bn due to lower EBITDA.

Published under Cement News