COTTO Posts Net Loss of 228 Million Baht in 2022, Hands Out 0.04 Baht Dividend

SCG Ceramics Public Company Limited (SET: COTTO) has announced its financial statement of 2022 through the Stocks Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
(227.79) 583,604
Earning Per Share
(0.04) 0.10
% Change -139

COTTO reported a net loss of 228 million baht in 2022, compared with a net profit of 584 million baht in 2021.

For the period FY2022, loss for the amounted to 228 MB, decreased 139% y-o-y and EBITDA amounted to 337 MB, decreased 76% y-o-y, revenue from sales registered to 13,157 MB, increased 17% y-o-y due to increasing in sales volume.

Domestic and Export sales volume amounted to 75.5 million sq.m, increased 13% y-o-y, due to increasing demand. while the average selling price increased 6% y-o-y.

For the period of Q4/22, consolidated revenue from sales amounted to 3,154 MB, increased 14% y-o-y due to total sales volume increased 2% y-o-y from both domestic and export while average selling price increased 11% y-o-y. 

Loss for the period amounted to 741 MB and EBITDA loss amounted to 778 MB, There were non-recurring items which were allowance for impairment of assets and inventory devaluation amounted to 847 MB and Mutual Separation Plan expense (MSP) amounted to 20 MB. 

In addition, COTTO announced a dividend payout from the operational performance of 0.040 baht per unit to be paid on 3 April 2023 with an ex-dividend date on 31 March 2023.