SCG reports 7% increase in revenue

SCG reports 7% increase in revenue
24 February 2023

The Siam Cement Public Co Ltd (SCG) reported a 14 per cent drop in sales revenue to THB122,190m (US$3510.1m) in the 4Q22 when compare with the 4Q21. The company’s EBITDA fell by 53 per cent YoY to THB10,122m while profit was down by 98 per cent YoY to THB157m.   

The results were affected by lower chemicals product prices and volume driven by softer demand.

In the 2022 financial year, sales revenues increased seven per cent YoY to THB569,609m, supported by the company’s Packaging and Cement-Building Material businesses. However, EBITDA declined by 33 per cent YoY to THB61,912m. Profit was down 55 per cent YoY to THB21,382m due to the chemicals business.

In the Cement-Building Materials business the 4Q22 sales revenue saw a seven per cent advance to THB49,265m thanks to the company’s commercial strategy which resulted in higher domestic and regional sales. This led to a 4Q profit of THB1385m. For the full-year 2022, SCG’s Cement-Building Materials business unit saw a 12 per cent increase in sales revenues to THB204,594m, but EBITDA was down seven per cent YoY to THB17,540m and profit contracted by 11 per cent YoY to THB3789m.

Published under Cement News