The Siam Cement Public Company (SCC) Q2 2026 earnings summary

Executive summary

• Q2 2026 was marked by significant supply chain disruptions due to the Middle East conflict, including the closure of the Hormuz Strait, which cut 50% of feedstock supply to Asia, prompting immediate actions in sourcing, portfolio management, and supply chain optimization.

• Revenue and profit surged, supported by higher chemicals prices, robust packaging and cement sales, and cost reduction measures, with revenue for H1/2026 reaching Baht 259,570 million.

• Major divestment of Chandra Asri stock (CAP) was completed, generating nearly THB 25 billion in cash, supporting deleveraging and investment in the LSP Ethane project.

• Packaging operations in Indonesia turned profitable, and growth continued in Thailand and Vietnam, while cement and building materials benefited from restructuring and low-carbon cement introduction.

• Total assets as of 30 June 2026 stood at Baht 841,739 million, with total shareholders' equity at Baht 426,383 million.

Financial highlights

• Adjusted cash EBITDA for Q2/2026 reached THB 27,984 million (+47% YoY); H1/2026 EBITDA was THB 44,092 million (+35% YoY).

• H1/2026 revenue was Baht 259,570 million (+4% YoY); gross profit rose to Baht 49,788 million.

• Net profit attributable to owners for H1/2026 was Baht 17,758 million; adjusted profit was Baht 12,649 million.

• Net debt decreased by THB 39 billion, with net debt to EBITDA ratio improving to 3.7x.

• Cash on hand stood at THB 76,775 million as of Q2/2026.

Outlook and guidance

• H2/2026 is expected to be more challenging due to ongoing geopolitical tensions, rising energy and freight costs, and potential impacts from super El Niño.

• Focus remains on supply chain resilience, AI and robotics implementation, and financial discipline.

• Ongoing projects, including the ethane project and JV with PTTGC, are progressing and expected to enhance competitiveness by end of next year.

• Interim dividend of Baht 3.5 per share (THB 4,200 million) approved for payment in August 2026.