The Siam Cement Public Company Limited (SET: SCC) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows:
| 2024 | 2023 | |
| Net Profit (Loss) Million Baht |
6,341.64 | 25,914.98 |
| Earning Per Share (Baht) |
5.2800 | 21.6000 |
| % Change | -75.53 | |
SCC reported a net profit of 6,341 million baht in 2024, a 75.53% YoY drop from 2023. The decline was mainly due to ultra-low chemical margins, volatile energy cost, and high interest rates, as well as high depreciation and interest of approximately 6,000 million baht from Long Son Petrochemicals in Vietnam.
Meanwhile, revenue from sales registered at 511,172 million baht, an increase of +2% YoY from increased sales volume at SCG Chemicals (SCGC) and SCGP.
In FY2024 SCG registered healthy cash flow, with EBITDA at 53,946 million baht compared with FY2023 EBITDA at 54,143 million baht despite the global challenges and rock bottom chemical margins faced throughout the year. FY2024 EBITDA was attributed to the internal efforts and benefits from SCG’s cost efficiency measures, High-Value Added products, Low Carbon Cement, as well as SCGC Green Polymer.
SCC expects improved EBITDA in FY2025, factors are;
– Lower oil price and Chinese stimulus benefit Chemicals business.
– Continued government disbursement in Thailand is expected to accelerate infrastructure projects which benefits Business Related to Construction Materials.
– Regional growth momentum continues boosted by government spending particularly in Vietnam and Indonesia.
– SCG is to continue internal efforts on cost efficiency measures and immediate actions plans.
– CAPEX & Investment in FY2025 is expected to be approximately 30,000-35,000 million baht.
– SCG action plans continue such as High-Value Added products, Low Carbon Cement Gen II & Gen III and Low Carbon Cement across ASEAN, SCGC Green Polymer, LSP Ethane Project, and asset divestments.
Additionally, the company announced a dividend payment of THB2.50 per share to be paid on 22 April 2025. The ex-dividend date is 2 April 2025.
