Thai SCG Chemicals’ net loss widens in Q4
by ChemOrbis Editorial Team - content@chemorbis.com
Thailand’s SCG Chemicals, a subsidiary of Siam Cement Public Co. (SCG), recorded a net loss of 3.40 billion baht ($100 million) in the fourth quarter of 2024, widening from a 2.56 billion baht ($76 million) loss in the same period last year and 1.48 billion baht ($44 million) in the third quarter. The decline was attributed to the poor performance of the Long Son Petrochemicals Complex (LSP).
The company’s EBITDA was 1.43 billion baht ($42 million), down from 2.44 billion baht ($72 million) in the year-ago period and 1.54 billion baht ($46 million) in the previous quarter. However, the company’s sales increased both quarterly and yearly to 58.98 billion baht ($1.7 billion) in the fourth quarter.
For the full year 2024, SCG Chemicals posted a net loss of 7.99 billion baht ($237 million) compared to a net profit of 589 million baht ($17 million) in 2023.
SCG Chemicals is facing financial challenges due to the high costs and low margins of its Long Son Petrochemicals Complex. The company reported a net loss in every financial quarter of 2024, mainly due to the complex.
The company’s EBITDA was 1.43 billion baht ($42 million), down from 2.44 billion baht ($72 million) in the year-ago period and 1.54 billion baht ($46 million) in the previous quarter. However, the company’s sales increased both quarterly and yearly to 58.98 billion baht ($1.7 billion) in the fourth quarter.
For the full year 2024, SCG Chemicals posted a net loss of 7.99 billion baht ($237 million) compared to a net profit of 589 million baht ($17 million) in 2023.
SCG Chemicals is facing financial challenges due to the high costs and low margins of its Long Son Petrochemicals Complex. The company reported a net loss in every financial quarter of 2024, mainly due to the complex.
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