SIAM CEMENT Group (SCG), a regional conglomerate with subsidiaries in the Philippines, reported a 53% increase in its second-quarter net profit to P5.86 billion ($102 million) compared to the previous quarter, driven by economic upturns across its markets.
Total revenue for the second quarter rose 3% quarter on quarter to P202.46 billion ($3.54 billion), SCG said in a statement e-mailed over the weekend.
“SCG reported a surge in second-quarter profit, buoyed by economic upturns in Vietnam and Indonesia,” it said.
“The company is implementing strategies to counter domestic economic headwinds and global uncertainties, including cost-cutting measures, AI integration, and a push into low-carbon cement,” it added.
For the first half, SCG generated P398.71 billion ($6.98 billion) in total revenue, nearly matching last year’s figures. SCG Chemicals had the highest revenue contribution at 39%.
“High-value-added products and services accounted for 39% of total sales, while environmentally friendly products under the SCG Green Choice brand made up 54%. The company also saw strong growth in its overseas operations, with 44% of total revenue generated outside Thailand,” it said.
SCG managed to sustain its growth trajectory despite headwinds such as the petrochemical downturn, intense competition, and a sluggish domestic economy.
The company increased the use of alternative fuel in its cement operations to mitigate surging energy costs. It also used artificial intelligence to improve operational efficiency by tailoring its product offerings to meet customer needs.
SCG said it is ramping up its global presence and product offerings led by the promotion of the low carbon cement, with exports to the United States surpassing one million tons, as well as ongoing expansion into Vietnam and Australia.
The company’s distribution arm, SCG Distribution and Retail, is also expanding its retail footprint in the Southeast Asian region while SCG Smart Living is introducing new landscape materials and heating, ventilation, and air conditioning systems.
It is also making progress in the construction materials sector, with a focus on high-value products and expanding into new markets like India.
SCG has a presence in the Philippines through seven subsidiaries namely, United Pulp and Paper Co., Inc., Mariwasa Siam Ceramics, Inc., SCG Roofing Philippines, Inc., SCG Trading Philippines, Inc., SCG Marketing Philippines, Inc., Green Siam Resources, Inc., and Green Alternative Technology Specialist, Inc. — Revin Mikhael D. Ochave
