SCC’s 3Q Profit Jumps 57% to ฿9.7Bn Due to a Better Cement-Building Materials Business

The Siam Cement Public Company Limited (SCC) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

SCC reported a 3Q20 Profit of 9,741 million baht, an increase of 57% YoY, while revenue from sales registered 100,938 million baht, an decrease of 9% YoY. Earnings improvement is attributed to better chemicals business on the back of improving demand in China and Asia in general. EBITDA registered 19,334 million baht, increased by 30% YoY. This is a result of better chemicals performance and efficiency improvement seen in cement-building materials business.

 

Key items in 3Q20 include the assets impairment of 461 million baht mainly from cement and building materials business.

 

For the period of 9M20, profit registered 26,096 million, an increase of 5% YoY mainly as a result of increased contributions from cement-building materials and packaging businesses. EBITDA increased 5% to 56,722 million baht for the same reason. Revenue from sales dropped 9% YoY to 302,689 million baht due to decreased chemicals selling prices in-line with the drop in oil prices.

 

Packaging business reported a 9M20 profit of 4,971 million baht, an increase of 22% YoY. Revenue from sales registered 69,190 million baht, increase 5% YoY, while EBITDA registered 13,118 million baht, increase 16% YoY. EBITDA margin improved to 19% for 9M20 compared to 17% for 9M19.