The Siam Cement Public Company Limited (SET: SCC) reported a complex set of full-year results for 2025, characterized by a massive jump in net profit despite a contraction in revenue and significant one-time restructuring costs. While top-line figures felt the weight of global economic uncertainty, the company’s aggressive deleveraging and efficiency programs began to reshape its financial profile.
SCC’s reported profit for 2025 reached THB 14,075 million, a staggering 122% increase compared to 2024. However, this surge was heavily supported by THB 16,977 million in non-recurring items, including gains related to PT Chandra Asri Pacific Tbk (CAP). On a more normalized basis, adjusted earnings stood at THB 4,962 million, reflecting a 31% year-on-year improvement.
Conversely, revenue from sales dipped 3% to THB 496,925 million. This decline was primarily driven by softened demand in the construction materials sector and lower product prices within the chemicals and packaging segments. Full-year EBITDA fell 5% to THB 51,249 million, pressured by a THB 2.4 per USD appreciation of the Thai Baht and inventory losses.
The 2025 fiscal year was defined by a major restructuring and streamlining effort, which incurred THB 5,300 million in expenses. This included the termination of the NocNoc digital platform and streamlining within Distribution and Retail. Furthermore, SCC Chemicals (SCGC) weathered a THB 3,477 million inventory loss due to squeezed global margins.
Despite these costs, SCC successfully strengthened its balance sheet. Net debt was reduced by THB 31,622 million to THB 280,259 million, while finance costs fell to THB 10,738 million. Working capital was also slashed by THB 27,153 million through aggressive efficiency measures.
The Board of Directors has resolved to propose to the Shareholders’ Meeting on 25 March 2026 to approve the FY2025 dividend with the amount of THB 5.0 per share, totaling THB 6,000 million, or 43% of the Reported Profit for the year at THB 14,075 million. This is comprised of the 1H25 interim dividend of THB 2.5 per share, and the final dividend of THB 2.5 per share at the amount of THB 3,000 million.
