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News Siam Cement Group grows earnings in first quarter of 2024

Siam Cement Group grows earnings in first quarter of 2024

Written by Global Cement staff 25 April 2024
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Thailand: Siam Cement Group (SCG) reported first-quarter sales of US$3.36bn in 2024, down by 3% year-on-year. The group partly attributed this to a decline in its cement volumes. Nonetheless, group earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 4% to US$341m. Special items in the group’s first-quarter 2023 results precipitated an 85% year-on-year decline in net income to US$65.5m from US$446m.

SCG recorded first-quarter CO2 emissions of 5.99Mt, outstripping the Science-Based Targets Initiative (SBTi)’s recommendation of a 2.5% annual reduction. It relied on 47% renewable energy sources in its cement production.

Last modified on 30 April 2024
Published in Global Cement News
Tagged under
  • Thailand
  • Siam Cement
  • SCG Cement
  • Results
  • Sustainability
  • target
  • CO2
  • Emissions
  • data
  • Science Based Targets
  • renewable energy
  • Electricity
  • Energy
  • GCW657
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