COTTO Earns a Net Profit of ฿162Mn in 3Q21, Bringing 9-Month Earnings to ฿526Mn

SCG Ceramics Public Company (COTTO) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

COTTO reported Q3/21 consolidated revenue from sales amounted to 2,840 million baht, an increase of 5% y-o-y. Due to the COVID-19, average selling price has slightly improved while sales volume decreased. Moreover, the company recognized revenue from land selling in Nong Khae industrial estate about 131 million baht. 

Profit for the period amounted to 162 million baht, decreased 5% y-o-y and EBITDA amounted to 365 million baht, decreased 6% y-o-y. However, improving cost management and production efficiency were continuously conducted in order to mitigate the impact of the increase in natural gas price.

For the period 9M/21, revenue from sales registered to 8,453 million baht, increased 9% y-o-y thanks to increasing in both Domestic and Export sales volume, amounted to 50.5 million sq.m, increased 5% y-o-y mainly from higher market demand. There was a non-recurring item which was revenue from land selling in Nong  Khae industrial estate for131 million baht. Profit for the period amounted to 526 million baht, increased 56% y-o-y and EBITDA amounted to 1,145 million baht, increased 20% y-o-y.