SCG announces financial statements of 2013’s third quarter and nine months

19:02 | 01/11/2013
SCG, one of the leading conglomerates in the ASEAN region, today announces the operating performance for the third quarter of 2013, showing increased revenue from sales and better profitability, thanks to growths in all business units.

scg announces financial statements of 2013s third quarter and nine months

The company is also optimistic for the continual growth of chemicals business.

According to president & CEO of SCG Kan Trakulhoon, the unreviewed consolidated financial statements of SCG and its subsidiaries for 2013’s third quarter showed a 9 per cent year-on-year increase in sales revenue to VND75.9 trillion ($3.6 billion) thanks to growths in all business units.

The profit for the period registered VND6.5 trillion ($311 million), an increase of 53 per cent year-on-year, following the continued recovery of chemicals margins and volume, growths in the domestic cement demand, and the non-recurring gain of $54 million from the fair investment value adjustment of sanitary ware and fixtures assets, and from the sale of assets to TOTO.

For the first nine month of 2013, SCG recorded sales revenue of $ 10.8 billion, jumping 7 per cent year-on-year with growths in all business units. Profit of the period hiked 71 per cent year-on-year to $938 million.

For SCG’s combined ASEAN operation (ex-Thailand), the sales revenue in 2013’s third quarter hiked 22 per cent year-on-year to VND6.832 trillion ($325 million), which was 9 per cent of SCG’s total sales revenue.

As of September 30, 2013, SCG’s total assets amounted to $13.6 billion, while the total assets of SCG in ASEAN amounted to $2.02 billion, tantamount to 15 per cent of SCG’s total consolidated assets.

In respect to operating results of SCG in Vietnam, SCG Vietnam reported sales revenue of $155 million in the third quarter, a 75 per cent jump year-on-year. For the first nine months, SCG Vietnam posted sales revenue of $386 million, hiking 55 per cent year-on-year.

Even though businesses are concerned with an anticipating slowdown of Thailand and ASEAN economic growth, SCG has confidence in the strength and the sustainable growth of Thailand and ASEAN.

Accordingly, SCG remains striving towards driving its business expansion in both Thailand and ASEAN, following its vision of becoming an ASEAN sustainable business leader.

The group continues pushing up planned investment projects in ASEAN such as the cement plant in Indonesia, Myanmar, and Cambodia, and the petrochemical complex in Vietnam.

With its vision to become the ASEAN sustainable business leader, SCG has pursued its investments in the ASEAN region and continuously developing High Value-Added (HVA) products and services, Kan added.

The group has conducted business in line with the sustainable development concept, by creating a balance of contributions to society, environment, and economy.

SCG also announced its third consecutive year record of the Global Industry Leader in the Construction Materials industry listed by the Dow Jones Sustainability Indices (DJSI).

This recognition reflects SCG’s determination to bring the utmost benefits to society, environment, and all stakeholders, as well as efforts to move every sector forward to applying the sustainable development concept for practical use and to extend the sustainable development network in the country and ASEAN.

By By Mai Thuy

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