SCC’s Chemical Business Drags 2018 Profit to -19%, Soothing Investors with ฿9.5 Dividend
SCC's 2018 profit faced 19% of deficit due to lower chemicals earnings. The Boards has approved ฿9.5/share dividend.
The Siam Cement Public Company Limited (SCC) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:
In 2018, SCC registered a profit of 44,748 million baht, a decrease of 18.70% YoY while EBITDA declined by 15% YoY to 86,641 million baht, attributed to the lower chemicals earnings (-29%), which was partially compensated by the earnings of packaging business (+36%). However, revenue from sales increased by 6% YoY to 478,438 million baht due to higher sales volume in every business Unit.
On a YoY basis, 4Q18 profit decreased by 17% and EBITDA dropped by 24% YoY, mainly due to the decline in performance from the chemicals business in light of the market volatility which resulted in decreased margins and inventory loss of 2,200 million baht. However, revenue from sales increased by 3% YoY, mainly from increased chemicals sales volumes, and the domestic growth in the cement-building material business.
The Board of Directors of SCC has also approved a year-end 2018 dividend of ฿9.5/share (57% of 2H18 earnings) that is payable on April 19, 2019. The ex-dividend date is April 3, 2019.
