Thailand · Delayed Price · Currency is THB SCG Packaging PCL Earnings Call Transcripts
Fiscal Year 2025
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Full-year 2025 saw a 6% revenue decline due to lower prices, but EBITDA and net profit rose on cost improvements and strategic shifts to domestic markets. Key acquisitions and cost-saving initiatives, especially in Indonesia, strengthened performance. Dividend payout and CapEx plans remain robust.
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Nine-month revenue declined 7% year-on-year due to lower prices, but sales volume rose 3%. EBITDA and net profit fell, impacted by currency effects, while operational improvements and M&A in ASEAN support future growth. Q4 is expected to outperform last year.
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First half 2025 saw revenue decline year-on-year due to lower prices, but EBITDA and net profit improved sequentially from cost savings and higher volumes. Integrated Packaging outperformed, while Fibrous Business lagged. Focus remains on ASEAN growth, cost efficiency, and expanding consumer-linked segments.
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Q1 2025 saw revenue of THB 32 billion (down 5% YoY, up 3% QoQ) and EBITDA of THB 4.2 billion (down 18% YoY, up 49% QoQ), with net profit at THB 900 million. Focus remains on cost savings, supply chain flexibility, and navigating U.S. tariff risks.
Fiscal Year 2024
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Revenue grew 3% year-on-year to THB 132 billion in 2024, but EBITDA and net profit declined due to higher recycled paper costs and lower export demand, especially to China. Domestic volumes and market share increased, and 2025 is expected to see improved profitability and growth.
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Nine-month revenue grew 4% year-on-year, but margins were squeezed by higher RCP costs and a strong Thai baht. Fajar acquisition increased net debt, with turnaround efforts underway. Outlook remains cautious due to weak China demand and external risks.
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Revenue and EBITDA grew year-on-year in H1 2024, driven by higher volumes and cost efficiencies, though Q2 saw sequential declines due to seasonal and cost pressures. Strategic M&A, supply chain optimization, and ESG initiatives remain key priorities.