SCG announces FY2023 operating results

SCG revealed plans to accelerate its business in 2024, ready to tackle all challenges and aggressively pursue green businesses aimed at fostering growth alongside a net zero society. With an investment budget of US$ 1.16 billion, SCG is pushing for green innovations, advancing clean energy, and reducing greenhouse gas emissions. SCG has exported Low Carbon Cement to the US market. Long Son Petrochemicals Complex in Vietnam plans to feed high-quality polymer innovations to the global market. SCG is marking its presence in Saudi Arabia, connecting global trade. SCG is moving forward with a business structure transformation to enhance agility, resilience, and extensive growth. Most recently, SCG has achieved the No.1 position in the global ESG index by Morningstar Sustainalytics.

Long Son Petrochemicals Complex (LSP) in Vietnam

Thammasak Sethaudom, President and CEO of SCG, said, “SCG's operating results for FY2023 remained robust, despite the impact of the global economic downturn, including slowdowns in China and ASEAN. The petrochemical market was weak, and the demand for cement declined. The Revenue from Sales was US$ 14.47 billion, a decrease of 12% y-o-y.”

In 2024, SCG is gearing up for full-scale growth in both Thailand and the ASEAN markets across all business groups. This includes the introduction of Low Carbon Cement innovations, smart living solutions, green polymers, sustainable packaging solutions that are reusable and recyclable, end-to-end clean energy solutions, as well as high-quality polymers from the Long Son Petrochemicals Complex in Vietnam.

SCG is focused on efficient cost management and seizes opportunities from the recovery of Thailand's tourism and service sectors. The ASEAN market is expected to gradually improve, especially in Indonesia and Vietnam. Aiming to lead in green business that fosters growth while creating a net zero society that is livable for everyone, SCG has set an investment budget of US$ 1.16 billion. This investment is primarily in green innovations, clean energy, and greenhouse gas emission reduction, which have significant potential for demand and growth, as reflected in the sales of SCG Green Choice products in 2023, which accounted for 54% of total sales. Furthermore, SCG is accelerating the development of High-Value Added Products & Services (HVA) to diversify and meet customer needs promptly. SCG is also committed to transforming its business structure in line with the strategy to enhance agility, strength, and long-term growth, to effectively meet challenges in a timely manner, such as international conflicts leading to fluctuating energy costs and transportation expenses or the global economy yet to fully recover.

Thammasak concluded, "Recently, SCG was ranked No. 1 in the ESG Industry Top Rated out of 125 companies in the global Industrial Conglomerate group by Morningstar Sustainalytics. This reflects the company's strong growth, coupled with fostering a sustainable society and environment. This achievement is the result of operating under the ESG 4 Plus strategy (Net Zero – Go Green – Reduce Inequality – Enhance Collaboration Plus Trust through Transparency)."