Thailand’s SCG Q2 chemicals profit grows 23% on better margins

Author: Pearl Bantillo

2020/07/30

SINGAPORE (ICIS)--Siam Cement Group’s chemicals business posted a 23% year-on-year profit growth in the second quarter on better margins despite a double-digit decline in sales due to lower prices.

in million Thai baht (Bt) Q2 2020 Yr-on-yr % change H1 2020 Yr-on-yr % change
Sales           96,010 -12.0          201,751 -9.00
EBITDA from operations           17,774 23.0            33,025 1.00
Net profit             9,384 33.0            16,355 -13.00
Chemicals profit             4,564 23.0              6,342 -34.00
Chemicals revenue           34,758 -24.0            73,087 -21.00

Chemicals EBITDA (earnings before interest, tax, depreciation and amortization) margins more than doubled to 20% from 9% in the second quarter of 2019.

SCG’s overall net profit posted a 33% growth in the June backed by improved earnings across its three business segments, including packaging and cement-building materials.

($1 = Bt31.4)