Siam Cement Group releases its FY12 results

Financial results

Thailand’s Siam Cement Group (SCG) has released its unaudited consolidated financial results for FY12 and 4Q12. Sales revenue for the full year grew 11% y/y to Bt407.6 billion, spurred by increased prices and volume growth across the Group’s businesses. However, profit fell 14% y/y to Bt23.6 billion due to losses in SCG Chemicals, which saw the shutdown of Bangkok Synthetic Co. Ltd’s plant. Outside of Thailand, sales revenue in the ASEAN markets increased 39% y/y to reach Bt31.2 billion, accounting for 8% of SCG’s total revenue.

In 4Q12, sales revenue came in at Bt99.9 billion, up 14% y/y, with profit also rising by 116% y/y and 8% q/q. This increase was aided by the recovery of the Group’s construction businesses following flooding in 4Q11, as well as by a seasonal year-end dividend contribution from SCG Investment.

SCG Cement saw revenue increase by 25% y/y in FY12, boosted by domestic demand, with profit up 26% y/y to reach Bt9.2 billion. SCG Building Materials also registered positive results. Sales revenue came in at Bt41.3 billion, growing 21% y/y.

Centenary milestone

SCG is celebrating its 100^th anniversary this year, and to mark the occasion it will be carrying out a number of initiatives focusing on sustainability. The company will open up its sites to visitors in order to demonstrate best practices, as well as holding regional seminars discussing R&D and sustainable development. It will also publish a series of books on management, HR and sustainability. In addition, it will launch projects on water conservation, local volunteering initiatives and prototype sustainable communities.

Adapted from press release by Louise Fordham.

Read the article online at: https://www.worldcement.com/asia-pacific-rim/31012013/cement_thailand_-siam_cement_results_asean_850/