MOSCOW (MRC) -- Siam Cement Group (SCG) announced its performance throughout 2021 with positive results, said Kontan.
Management said that the operating income from the company's sales that had not been audited for 2021 was recorded at Rp 245.21 trillion (USD 16.58 billion). This figure increased by 33% yoy, driven by improved performance in each business line, particularly the price and sales volume of chemical products.
"Profit in 2021 was recorded at IDR 21.82 trillion (USD1.47 billion), an increase of 38% yoy, thanks to better performance in the chemical business," said SCG President and CEO, Roongrote Rangsiyopash.
Although it managed to get positive operating results, Roongrote said that SCG's business performance last year was plagued by several obstacles. These include inflationary pressures, rising costs of energy and raw materials, as well as the Covid-19 pandemic.
In the face of it all, SCG also encourages business transformation with various efforts. Such as implementing ESG principles in business operations, leveraging digital transformation to meet customer demands that help lower production costs and grow e-commerce, as well as developing new solutions to meet health trends and improve quality of life.
He added that revenue from sales in the fourth quarter of 2021 was recorded at Rp 62.03 trillion, an 8% qoq increase. Meanwhile, profit for the period was Rp 3.61 trillion (USD 249 mln).
Meanwhile, SCG's revenue from operations outside Thailand, including export sales from Thailand in 2021, was recorded at Rp 110.40 trillion (USD 7.59 bn). This amount contributed 46% of the total revenue from SCG sales, and was 44% higher than the previous year's realization.
As for SCG operations in ASEAN (except Thailand), revenue from sales in Q4-2021 increased 62% yoy, and contributed 29% of total revenue from SCG sales. "This figure includes sales from both local operations in each ASEAN market and imports from Thailand operations," he added.
As of December 31, 2021, SCG's total assets reached Rp 366.91 trillion (USD 25.79 bn), while SCG's total assets in ASEAN (except Thailand) were Rp 166.38 trillion (USD 11.70 bn) or 45% of SCG's total consolidated assets.
As per MRC, on 26 October 2021, a fire hit Thai petrochemical producer Siam Cement's (SCG) Map Ta Phut olefins complex. The fire broke out at a naphtha tank, which was empty at the time of the incident, because it had been shut for cleaning and maintenance. The cause of the fire is unknown.
As MRC reported earlier, Map Ta Phut Olefins Co Ltd (MOC), a subsidiary of Thailand’s SCG Chemical, has completed the maintenance work at its cracker in Map Ta Phut. Thus, the cracker with the capacity of 900,000 mt/year of ethylene and 450,000 mt/year of propylene was shut for a scheduled turnaround on 2 November, 2020, and fully resumed operations in the fourth week of December, 2020.