COTTO’s 1Q NP Jumps 50% to ฿187Mn as Finance Cost Decline and Sales Increase

SCG Ceramics Public Company Limited (COTTO) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

COTTO reported 1Q21 profit for the period amounted 187 million baht, increased 50% y-o-y and EBITDA amounted 397 million baht, increased 17% y-o-y, due to 1) efficiency increasing in management and operation and 2) continuously improved the production efficiency, while revenue from sales amounted 2,806 million baht, increased 8% y-o-y due to increasing in sales volume. 

 

Domestic and export sales volume for the period amounted to 17.7 million sq. m, increased 9% y-o-y, due to increasing demand, while average selling price decreased 2% y-o-y. 

 

Meanwhile finance costs amounted to 1 million baht, whereas 1Q20 amounted 2 million baht. Which is an interest expense on the lease contract under Thai Financial Reporting Standards no. 16 “Leases” (TFRS 16). The company had no short-term and long-term loan from the financial institute.

 

As of March 31, 2021, total assets amounted 11,316 million baht, where current assets amounted 5,460 million baht, property, plant and equipment amounted 4,982 million baht and other non-current assets amounted 874 million baht. Total Liabilities amounted 2,490 million baht, where Trade and other current payables amounted 1,637 million baht, others liabilities 183 million baht and non-current liabilities amounted 670 million baht. 

 

Total equity attributable to owners of the parent amounted to 8,826 million baht, which100% of total shareholders equity.