Thailand – SCGD, or SCG Decor Public Company Limited, has announced strong financial results for the second quarter of 2024, defying market trends. The company’s net profit attributable to shareholders increased by 45% year-on-year and 10% quarter-on-quarter. Despite a slight decrease in total revenue, SCG Decor managed to improve operational efficiency and reduce costs, resulting in a 13% and 7% increase in EBITDA compared to the same period last year and the previous quarter, respectively.
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The overall construction materials market in Thailand continues to slow down, particularly in the residential segment due to high household debt and inflation. The government and private sector project markets have also not fully recovered.However, overseas markets, especially Vietnam, are showing positive signs with the clarification of land laws and the recovery of the real estate sector.
SCGD continues to develop new products and add value to its goods and services through innovation and solutions that meet the needs of modern consumers. The company is also expanding its distribution channels both domestically and internationally. Recently, it launched the largest COTTO LiFE store in Bangkok and plans to open additional branches in Phuket, as well as expand its presence in the Philippines and Cambodia.
Investing in the Future
The company continues to invest in various projects to enhance production efficiency, reduce energy costs, and expand production capacity, particularly for glazed porcelain products in Vietnam and additional solar cell installations. These projects are expected to be completed in 2025.
To reward shareholders, the company’s Board of Directors approved an interim dividend payment of 0.10 baht per share,totaling 165 million baht, based on the first-half 2024 performance. The dividend is scheduled to be paid on August 22,2024.
SCG Decor anticipates a brighter outlook for the tile and sanitary ware market in the third quarter of 2024. The Thai market is expected to benefit from government spending, while overseas markets, particularly Vietnam and Indonesia, are expected to recover.
SCG Decor remains a leader in the construction materials market, with a focus on innovation, market expansion, and sustainable growth. The company is well-positioned for continued growth in the future.
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