SCG Cement - Building Materials recorded a Q2/2016 revenue from sales of 42,984 MB, a decrease of 6 % y-o-y and 6 % q‑o-q due to the pricing variables in the domestic market. The business unit registered profit for the period of 2,476 MB, a decrease of 15 % y-o-y and 25 % q-o-q due to lower EBITDA and increased depreciation expense. Revenue from sales for the first half of 2016 is at 88,864 MB, a decrease of 4 % y‑o‑y, due to weakness in the domestic market which affected pricing and volume growth. Profit for the period dropped 11 % y-o-y to 5,766 MB due to lower EBITDA and increased depreciation expense.
Mr. Roongrote Rangsiyopash, President and CEO of SCG: “We see a bright future for markets across the region, with steady growth rates. Especially in Vietnam, demand for building materials and packaging has risen, on the back of the boom in the construction industry, with several infrastructure, residential and industrial projects, as the country has become a key production base of the world. Cambodia also continues to see steady growth of industries, while Indonesia has also begun to see improvements in the economy, with construction of several government mega-projects. At the same time, trade around the borders of Thailand and its neighboring countries is also doing well.
Investments in other countries are progressing according to plan. The cement plant in Myanmar is expected to begin commercial operation in Q3 of 2016, while the plant in Laos should be operational in 2017. SCG will continue to expand investments by focusing on existing business partners and growing our businesses together.”