Mr. Wichan Jitpukdee, Chief Executive Officer of SCG Packaging Public Company Limited (SET: SCGP), stated that in 3Q25, the company recorded a net profit of THB 953 million, increasing by 65% YoY but decreasing by 6% QoQ.
This was due to improved performance in the paper packaging business in Indonesia. Total sales revenue reached THB 30.43 billion, a drop of 9% YoY and down 4% QoQ. EBITDA stood at THB 4.15 billion, up 19% YoY but down 2% QoQ.
Looking ahead to 4Q25, performance is expected to improve year-on-year, resulting in overall growth for 2025 compared to the previous year. However, EBITDA for the first nine months of the year was over THB 12 billion, and full-year EBITDA for 2025 is expected to fall short of the previously set target of THB 18 billion, mainly due to declining exports to China.
The company has shifted its export focus to India, but the average selling price for packaging paper and pulp has declined in line with regional market trends. Sales this year are expected to grow by 3%. Though EBITDA may be lower than targeted, it is expected to remain above last year’s figure of over THB 16 billion.
Additionally, SCGP has strengthened profitability and competitiveness by focusing on growth within ASEAN, establishing an integrated business model to meet diverse customer and market requirements, and expanding into potential new markets such as India and Australia. These strategies have led to increased sales volumes of consumer packaging in both the integrated packaging and pulp & paper businesses, despite declines in average selling prices.
The company is concurrently prioritizing cost management and efficient production, for example, by increasing the share of renewable energy usage to 38.6%, and applying AI and Machine Learning technologies. Cost management and the integration of regional supply chains are also emphasized, both in terms of production and raw material usage (Regional Optimization).
“The packaging industry in ASEAN and consumer spending in 4Q25 are expected to grow as businesses prepare to restock ahead of year-end, particularly in food, beverages, and consumer goods, in anticipation of festive season demand. Positive factors include the government’s economic stimulus measures, such as the co-payment scheme and tourism promotions, which are boosting packaging demand. Meanwhile, paper packaging and polymer packaging prices are expected to remain stable, while prices for packaging paper and dissolving pulp are likely to rise on recovering demand,” said Mr. Wichan.
He added that the company is also moving forward on sustainability, with targets to reduce greenhouse gas emissions by 25% by 2030 and achieve Net Zero by 2050. This is underpinned by continual process improvements, developing reusable and recyclable packaging, and expanding collaborations with six leading food and beverage packaging customers to develop SCGP’s Carbon Footprint of Product (CFP)-labeled packaging, providing greenhouse gas emission information to enhance competitiveness for both SCGP and its customers and drive sustainable mutual business growth.
SCGP continues to strengthen its presence in ASEAN, most recently signing a conditional share purchase agreement for 100% of the shares in PT Prokemas Adhikari Kreasi (MYPAK), a leading paper packaging manufacturer in Indonesia. Its production base is located in Bekasi, West Java, near PT Fajar Surya Wisesa Tbk.’s packaging paper plant.
Its client base comprises major multinationals and leading brands in the food, beverage, and consumer goods sectors. The acquisition is currently in progress and is expected to be completed by December.
