SCC reveals Q1/67 profit at 2,424.85 million baht, found no special items. -The performance of the Chemicals business decreased.

SCC reveals Q1/2024 budget has a profit of 2,424.85 million baht, a decrease of 85% after no special items – performance of the Chemicals business decreased.

The Siam Cement Public Company Limited or SCC reveals operating results for the 1st quarter of 2024 with a profit of 2,424.85 million baht, down 85% from the same period in 2023 with a profit of 16,525.73 million baht.

This quarter’s profits decreased compared to the same period in 2023 because in the 1st quarter of 2023 There was a special item from adjusting the fair value of investments in SCG Logistics, which was not a cash item, worth 11,956 million baht, together with this quarter the performance of the Chemicals business decreased.

This quarter, revenue from sales was 124,266 million baht, an increase of 3% compared to the previous quarter. From higher sales in almost every business group, EBITDA was 12,623 million baht, an increase of 16% compared to the previous quarter. This was due to the improved performance of the cement and construction business groups. It is a result of green products and management to increase efficiency.

However, if compared to the previous quarter Profit increased by 3,559 million baht from increased profits in almost every business compared to the same period last year. SCG’s sales revenue decreased 3%, mainly from the cement and construction related businesses and lower sales volumes from the Chemicals business. However, EBITDA increased 4% from the same period. of the previous year From the business group related to cement and construction

In the first quarter of 2024, SCG had profit sharing from associated companies of 1,786 million baht, an increase of 173 million baht or 11% compared to the previous quarter. The share of profits from associated companies in the chemicals business accounted for 26% of the total or 458 million baht, a decrease of 182 million baht from the previous quarter. While the share of profits from associates in other businesses accounted for 74% of the total or 1,328 million baht, an increase of 355 million baht from the previous quarter. SCG’s dividend income in the first quarter of 2024 was 207 million baht, an increase of 64 million. baht from the same period last year. Comes from dividends received from associated companies (SCG holds 20 – 50% of shares) equal to 114 million baht and from other companies (SCG holds less than 20% of shares) equal to 93 million baht.

SCG still has its structure. SCG has a stable financial position with cash and cash under management at the end of Q1 2024 equal to 78,585 million baht, compared to 68,064 million baht at the end of Q4 2023. SCG has net working capital of 106,805. million baht, an increase of 10% from the previous quarter, with the inventory turnover to cost of sales equal to 70 days, decreased compared to 75 days in the previous quarter (Q4 2023).