Siam Cement record revenue increase in 2017

Siam Cement has released its financial results for the full-year period ended 31 December 2017. Revenue reached THB450.9bn (US$14.34bn), an YoY increase of six per cent from THB423.4bn. Net profit fell two per cent to THB55bn from THB56bn of 2016, due to weakness in the domestic cement and building materials operations. However, EBITDA advanced four per cent to finish at THB102bn.

In the 4Q17 the company recorded a significant 14 per cent YoY increase in revenue to THB113,400. Net profit made a small improvement on the year-ago period, marking a one per cent increase to THB12.5bn. EBITDA showed growth of seven per cent in the final quarter of the year, reaching THB26.5bn.

Cement and building materials
Thailand’s total domestic grey cement demand decreased three per cent YoY in the 4Q17, attributed to a slow recovery for the private sector. Siam Cement’s domestic grey cement sales volume was in line with the industry, with an average price of THB1650-1700/t in the fourth quarter.

In 2017 total domestic consumption of cement was approximately 37.5Mt.