SCG is tackling the COVID-19 crisis by swiftly adapting and implementing strict measures to ensure business continuity in its chemicals sector. This has resulted in a profit increase for SCG in the second quarter of 2020. The company is focused on maintaining long-term business stability through the development of comprehensive innovative solutions that meet the needs of customers in the New Normal era, alongside leveraging digital tools to enhance online retail channels and promote its standout packaging business in the ASEAN market.

Mr. Rungroj Rangsiyopas, President of SCG revealed that SCG's consolidated financial statements for the second quarter of 2020 showed sales revenue of 96,010 million baht, a decrease of 12% compared to the same period last year, due to falling prices of chemical products, and a 9% decline from the previous quarter as core business revenues dropped. However, the net profit for the period was 9,384 million baht, an increase of 33% year-on-year due to improved performance in core businesses, enhanced production efficiency, and effective business continuity management, marking a 35% increase from the previous quarter thanks to better performance in the chemicals sector.

    For the first half of 2020, SCG reported sales revenue of 201,751 million baht, down 9% compared to the same period last year, attributed to lower prices of chemical products, with a net profit of 16,355 million baht, a decrease of 13% year-on-year due to reduced price margins for chemical products in the first quarter of 2020.

      The sales of high value-added products and services (HVA) amounted to 91,003 million baht, accounting for 45% of total sales.

      Revenue from international operations, including exports from Thailand, totaled 86,638 million baht, representing 43% of total sales, a decrease of 2% from the same period last year.

Total assets of SCG as of June 30, 2020, were valued at 706,652 million baht, with 36% being assets in ASEAN.

  “During this crisis caused by the COVID-19 outbreak, although SCG is not in an industry directly affected, such as tourism and airlines, the company has closely monitored and assessed the situation due to its high uncertainty, allowing us to adapt and prepare contingency plans promptly.”

The board of directors has approved an interim dividend payment from the first half of 2020 operations at a rate of 5.5 baht per share, totaling 6,600 million baht. The interim dividend is scheduled to be paid on Friday, August 28, 2020, with the ex-dividend date (XD) set for Thursday, August 13, 2020, and the record date for dividend eligibility on Friday, August 14, 2020.

Source: SCG