Thailand’s SCG Q3 net profit flat, chemicals business swings to profit

SINGAPORE (ICIS)–Thai conglomerate Siam Cement Group (SCG) posted a third-quarter net profit of baht (Bt) 2.44bn ($67m), unchanged from the same period in 2022, aided by its chemical operations’ return to profitability in spite of lower sales.

in million Thai baht (Bt)	Q3 2023	Q3 2022	Yr-on-yr % change	Jan-Sept 2023	Jan-Sept 2022	Yr-on-yr % change
Sales	125,649	142,391	-12	379,028	447,419	-15
EBITDA	11,096	9,322	19	43,219	51,790	-17
Profit for the period	2,441	2,444	0	27,049	21,225	27
Chemicals revenue	49,663	57,351	-13	145,223	193,302	-25
Chemicals EBITDA	2,830	-954	N/A	11,247	14,921	-25
Chemicals net profit	1,052	-339	N/A	3,149	6,953	-55

Third-quarter sales of combined polyethylene (PE) and polypropylene (PP) grew 7% year on year to about 451,000 tonnes, the company said on Thursday.

($1 = Bt36.27)