SCC reveals Q1/2024 profit of 2,425 million baht, EBITDA supported by growth in cement-construction business.

HoonSmart.com>> “Siam Cement” (SCC) reveals 1Q24 net profit of 2,425 million baht, down 85% from the previous year’s period, supported by special items. Sales revenue was 124,266 million baht, an increase of 3% from the previous quarter. Sales grew in almost every business group, supporting EBIDA to reach 12,623 million baht, an increase of 16% from the previous quarter and 4% growth from the previous year period, supported by the cement and construction business group. Showing better results than 3 brokers expected

The Siam Cement Company or SCG (SCC) revealed operating results for the first quarter of 2024, net profit of 2,424.85 million baht, earnings per share of 2.02 baht, a decrease of 85% from the same period last year with a net profit of 16,525.73 million baht, profit. per share 13.77 baht

In the first quarter of 2024, SCG had sales income of 124,266 million baht, an increase of 3% compared to the previous quarter. From higher sales in almost every business group, EBITDA amounted to 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. Profit for the period was 2,425 million baht, an increase of 3,559 million baht from the previous quarter. From increased profits in almost every business

However, when compared to the same period last year. SCG’s sales revenue decreased 3%, mainly from cement and construction related businesses. and lower sales volumes of the Chemicals business. However, EBITDA increased 4% from the same period last year. From the business group related to cement and construction

Meanwhile, profits for the period decreased 85% compared to the same period last year. This is because in the first 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, along with this quarter the performance of the Chemicals business decreased.

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. By sharing profits from associated companies in
Chemicals business accounted for 26% of the total or 458 million baht, a decrease of 182 million baht from the previous quarter. while profit sharing 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 has dividend income in the first quarter of 2024 equal to 207 million baht, an increase of 64 million baht from the same period last year. It 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.

As for capital expenditures and investments for the first quarter of 2024, there is a value of 9,375 million baht, with the investment proportion belonging to the Chemicals business 60%, cement and construction related business 19%, Packaging business 16% and other segments. 5%, with the majority of capital expenditures and investments being green investments. The projected capital expenditures and investments for 2024 are approximately 40,000 million baht.

SCC’s profits for the first quarter of 2024 are better than what 3 brokers expected, with Dao Securities expecting a net profit of 2,000 million baht, down 88% from the previous year’s period. DBS Vickers Securities expects There was a net profit of 1,840 million baht, a decrease of 89% from the previous year and Trinity Securities. It is expected that there will be a net profit of 1,700 million baht, a decrease of 90% from the previous year’s period, while Krungsri Patanasin Securities expects a net profit of 2,489 million baht, a decrease of 85% from the previous year’s period.