Siam City Cement posts 28% revenue increase 43% net profit dip 2017

Siam City Cement posts 28% revenue increase 43% net profit dip 2017
14 March 2018

Siam City Cement announced a total consolidated revenue increase of 25.8 per cent to THB43.885bn in 2017 from THB34.896bn the previous year. Net sales increased 27.6 per cent YoY to THB43.634bn from THB34.192bn during the same period.

But as expenses surged 34.8 per cent YoY to THB39.632bn, the company’s profit before joint venture and associate shares, finance cost and income tax expenses fell by 22.7 per cent to THB4.253bn from THB5.501bn in 2016.

Net profit came down 42.6 per cent YoY to THB2.232bn from THB3.886bn the previous year on higher finance costs of THB1.295bn while income tax expenses reached THB852m. Net profit attributable to equity holders of the company stood at THB1.818bn, down from THB3.887bn the previous year.

The company improved its gearing from 108 per cent in 2016 to 84 per cent one year later.

Siam City Cement operates 24.8Mta of cement capacity and 14.5Mta of clinker capacity in plants in Thailand, Vietnam, Bangladesh and Sri Lanka and is part of a joint venture in Cambodia. In addition, the company exports to India, Myanmar, Laos, Malaysia, Singapore, Indonesia, Philippines, South Korea and South Africa. In 2017 its cement division sold THB35.999bn of cement, or 77 per cent of total sales. A further THB8.174bn in sales was made by its concrete and aggregates segments while other sales segments sold THB2.731bn worth of products.

Published under Cement News