Thailand: Siam Cement Group (SCG) has forecast 10% year-on-year growth in its consolidated sales to US$19.1bn in 2023, from US$17.4bn in 2022. The Bangkok Post newspaper has reported that the group expects sales to rise due to the reopening of the Chinese market and an anticipated growth in Thai domestic tourism.
High value-added goods and services constituted 34% of SCG’s total sales in 2022. The group increased its installed renewable power capacity by 78% to 234MW throughout the year. SCG has planned capital expenditure investments of US$1.22 - 1.53bn in 2023.
SCG president and CEO Roongrote Rangsiyopash said "The economic outlook for 2023 seems to be better than last year, but we will continue to monitor risk factors that may affect our businesses.”
