SCGP Records THB1.8 Billion of Net Profit in 3Q22 as Recovering Economy Boosts Demand

SCG Packaging Public Company Limited (SET: SCGP) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
1,837.30 1,780.87
Earning Per Share
0.4300 0.4100
% Change 3.17
9 Months 2022 2021
Net Profit (Loss)
Million Baht
5,351.19 6,178.86
Earning Per Share (Baht) 1.2500 1.4400
% Change -13.40

For SCGP’s 3Q22 performance, total revenue from sales registered at 37,943 million baht, increased by 19% YoY, mainly due to product price adjustment in all categories, growth in fibrous business with major impact from the increase in pulp price, augmented demand of foodservice packaging and the financial consolidation of the international packaging material recycling company – Peute Recycling B.V. (Peute) in the Netherlands and a trader of recovered paper – Jordan Trading Inc. (Jordan) in the USA which were consolidated in July and Septemillion in 2022 respectively. EBITDA was at 5,483 million baht, increased 12% YoY with an EBITDA margin of 14%.

Profit for the period reported at 1,837 million baht, increased 3% YoY with net profit margin at 5%. YoY improvement was driven by the consolidation of completed M&P, rise of demand for Food & Beverage and consumer products in the region and non-operating FX gain. On a QoQ basis, revenue from sales and EBITDA remained at the same level.