The Siam Cement Public Company Limited (SET: SCC) has announced its consolidated financial results for the second quarter of 2025, revealing a substantial increase in reported profit compared to the same period last year. Profit for the period surged by 368% to 17,337 million baht in 2Q25.
This impressive growth was primarily attributed to significant gain from “Extra Items” totaling 15,170 million baht. These non-recurring, non-cash items included a restructuring profit of 16,712 million baht related to PT Chandra Asri Pacific Tbk (CAP). This gain arose from a bargain purchase gain from CAP’s investment in Aster Chemicals and Energy Pte. Ltd., along with a fair value adjustment of SCGC’s 30.57% stake in CAP following a change in investment status. However, these gains were partially offset by restructuring expenses of 1,542 million baht for efficiency and cost reduction across various businesses, including SCG Smart Living, SCG Distribution and Retail, and SCG Chemicals’ recycling business in Europe.
Excluding these Extra Items, Profit for the period stood at 2,167 million baht, representing a 42% decrease year-on-year from 2Q24. This decline was mainly due to increased start-up expenses (depreciation and interest) from the Long Son Petrochemicals Complex (LSP) in Vietnam, amounting to approximately 2,100 million baht. Additionally, SCG Chemicals (SCGC) faced an inventory loss of 913 million baht in 2Q25, compared to a lower loss of 363 million baht in 2Q24, while the appreciation of the Thai baht also impacted results. Lower earnings at SCGP, SCG Smart Living, and SCG Distribution and Retail further contributed to this decrease.
Revenue from sales for 2Q25 reached 124,685 million baht, a 3% decline year-on-year. This was observed across most businesses, except for SCG Cement and Green Solutions, which saw improved sales volume and cement price adjustments in Thailand.
EBITDA for 2Q25 grew by 7% year-on-year to 17,431 million baht. This was supported by a strong seasonal dividend of 8,086 million baht received from SCG Investment and better earnings at SCG Cement and Green Solutions, driven by improved sales volume and internal efficiency enhancements. Despite this, EBITDA from Operations saw a 10% decrease YoY to 11,359 million baht, largely due to restructuring expenses.
SCG is implementing various action plans for the second half of 2025, including asset optimization across ASEAN, the planned restart of LSP by the end of August 2025, and accelerating low-carbon cement penetration, alongside a continued focus on efficiency improvements and deleveraging.
Additionally, the Board of Directors approved a dividend payment of THB 2.50 per share to be paid on 28 August 2025 with an ex-dividend date on 13 August 2025.
