CBG’s Earnings Declined by 18.3% in FY2021, Mainly Due to Operational Expenses

The Siam Cement Public Company Limited (SET: SCC) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows:

Yearly 2021 2020
Net Profit (Loss)



Earning Per Share (Baht)



Change  -18.3%

CBG’s net profits attributed to our shareholders in 2021 were THB 2,881 million, down by 18.3%, due mainly to declining sales of branded own products.  The main source of lower profits are due to price hikes of raw materials and packaging materials as well as an increase in administrative expenses.

Total revenue from sales in 2021 was THB 17,364 million, up by 0.8%. An expansion of revenue from 3rd party products for distribution by 47.9% due to growing selection of quality products and consumer base, coupled with an increase in revenue from other sources, managed to help offset the impacts of declining revenue from sales of branded own products during slow pace of economies and the Covid-19 pandemic.

Domestic sales were THB 5,697 million, down by 4.8%,due mainly to a drop in sales of Carabao Dang energy drinks. According to the Nielsen’s final sales data to end consumers in 2021, the Thai energy drink market contracted by 7.5%. Our Carabao Dang energy drinks ranked the 2nd with 20.7% share. Meanwhile, the Thai healthy shot market contracted by 5.0%. Our Woody C+ Lock commanded the 2nd with 8.7% share

OverseassaleswereTHB6,925million,downby14.5%.WemanagedtogrowexportstoChina by 89.7%, whereas exports to other main markets outside Thailand declined

Sales of 3rd party products for distribution amounted to THB 3,568 million, up by 47.9% YoY ,driven by the variety and quality aspects that kept improving over time

Sales of branded product by 3 rd party’s manufacture amounted to THB 504 million, up by 13.7% YoY ,due mainly to an increase in sales of drinking water and Carabao RTD coffee.

Other sales amounted to THB 670 million, up by 128.7% YoY ,with the vast majority being manufacture and sales of glass bottles under the operations of our subsidiary, namely Asia Pacific Glass Company Limited (“APG”). As a result of our business partner’s attempt to expand and launch new products in foreseeable term, APG benefited from an increasing number of purchase orders for glass bottles.