Mitihoon – Bangkok, 29 January 2025 – SCG announced a profit of 6,342 MB for 2024, showcasing strong EBITDA of 53,946 MB, comparable to 2023 levels, and lower debt levels compared to the previous quarter. These results are attributed to the company’s proactive adjustments. SCG has approved a dividend of 5.00 Baht per share, totaling 6,000 MB, which represents 95% of the net profit. SCG has reaffirmed its commitment to shareholder care.
SCG reported its 2024 financial performance, demonstrating its strong capability to manage EBITDA, at 53,946 MB, maintaining levels achieved in 2023. This performance was driven by efficient management effort, cost management, accelerated delivery of High-Value Added Products & Services (HVA), and dividend income of 14,063 MB in 2024, primarily from investments in the agricultural machinery and automotive sectors.
SCG provided an update on its progress regarding measures to adapt to the economic slowdown as announced at the end of Q3/2024. The outcomes of those measures include: 1) Working capital reduced by approximately 6,200 MB from previous year, 2) Restructured operations and businesses for lean operations and discontinuation of non-performing businesses in FY2024 3.) Controlled capital expenditures (CAPEX) by prioritizing projects with high and quick returns. These measures collectively resulted in a reduction of net debt by 16,777 MB from the previous quarter, with the net debt-to-equity ratio standing at 0.7 times. The company remains financially stable and robust, with cash reserves totaling 53,331 MB at the end of the year.
Considering the EBITDA level comparable to 2023, The Board of Directors of SCG has resolved to propose the Shareholder’s Meeting to approve FY2024 dividend with the amount of 5.00 Baht per share, totaling 6,000 MB, or 95% of Profit for the Year. The Board of Directors considers this rate to be appropriate and in line with the Company’s dividend payment policy, which specifies a range of 40–50% of net profit based on the consolidated financial statements. However, in cases of necessity or unusual circumstances, the Company may consider adjusting the dividend payout as appropriate to ensure shareholders continue to receive sustained returns on their investments.
SCG has distributed an interim dividend of 2.50 Baht per share for the first half of the year on August 23, 2024 and will pay a final dividend of 2.50 Baht per share. This dividend payment will be distributed to shareholders eligible for dividends according to the company’s regulations, based on the shareholder list as of the record date on April 3, 2025 (the XD date will be April 2, 2025). The dividend will be paid on April 22, 2025, and the receipt of such dividend shall be within 10 years.
In 2024, the global economic situation presented significant challenges, coinciding with the global petrochemical cycle reaching its lowest point in 20 years. As a result, SCG reported revenue from sales of 511,172 MB in 2024, an increase of 2% from the last year, supported by increased sales volumes from SCG Chemicals and SCGP. Profit for the year was 6,342 MB, a decline of 76% from the last year due to the performance of Long Son Petrochemicals Complex (LSP) and lower profit contributions from associated companies. Excluding extraordinary items related to the impairment of cement plant assets in the region recorded in 2023, profit for the year decreased by 52% from the last year. In Q4/2024, SCG reported revenue from sales of 130,512 MB, an increase of 2% from the previous quarter, driven by higher sales volumes from SCG Chemicals. However, the company recorded a loss for the year of 512 MB, compared to a profit of 721 MB in the previous quarter, due to LSP performance which fully realized depreciation, while Q3/2024 included the 2,183 MB cash gain from Interest Rate Swap (IRS) instrument from SCG Chemicals.
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