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

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)