แม้เศรษฐกิจโลก-ไทย ท้าทายขึ้น เคาะปันผล 5 บาท/หุ้น ดูแลผู้ถือหุ้นต่อเนื่อง ชี้ปี 69 เดินหน้า “เข้มข้น – เข้มแข็ง – เสริมแกร่ง – เอาอยู่” พร้อมสู้ทุกความท้าทาย
Bangkok, 29 January 2026: SCG announced its 2025 operating results, underscoring disciplined financial management and strong adjusted EBITDA (Cash flow from core operations, excluding extraordinary items) of 55,012 MB, outperforming 2024 by 6%. Meanwhile, debt declined by 14,845 MB from the previous year. Despite a more challenging global and Thai economic environment, the results reflect the impact of business restructuring, the discontinuation of non-performing businesses and cost savings measures, generating total savings of approximately 4,300 MB per year. SCG approved a dividend of 5.0 Baht per share, to ensure sustained shareholder returns. Looking ahead to 2026, the Chemicals business is expected to remain stable, supported by a slowdown in new global capacity additions and a softening trend in raw material prices. SCG will continue to advance by intensifying financial discipline, strengthening capabilities across the organization, reinforcing long-term growth engines, and executing a Regional Optimization strategy, positioning Vietnam as a production base to serve domestic demand and global export markets. At the same time, SCG will accelerate SVP, HVA, and Green products with strong growth potential, staying resilient and ready to navigate every challenge.
Mr. Thammasak Sethaudom, Chief Executive Officer of SCG, disclosed that, “In 2025, SCG faced challenges from the global economic slowdown, geopolitical conflicts, and volatile energy costs, which affected all industries, particularly the petrochemical sector. The Thai economy was also impacted by a strengthening Thai Baht, which appreciated by 2.4 Baht per US dollar, or 7% from the previous year, high household debt levels, competition from low-priced imported products, and severe flooding. However, SCG was able to manage cash flow, the core foundation of its business operations, effectively, with adjusted EBITDA (Cash flow from core operations, excluding extraordinary items) totaling 55,012 MB, stronger than in 2024 by 6%, while net debt declined by 14,845 MB year-on-year. These results reflect the company’s strict financial discipline, efficient cost management, operational restructuring, the discontinuation of non-performing businesses, and cost-saving measures amounting to more than 4,300 MB per year, as well as accelerated efforts to boost capabilities across all businesses. SCG has also continued to ensure sustained returns for shareholders. Accordingly, the Board of Directors has resolved to propose to the Shareholders’ Meeting the approval of the annual dividend payout for 2025 at 5.0 Baht per share, totaling 6,000 MB, representing 43% of 2025 profit for the year.”
The outcomes of the measures to intensify financial discipline implemented in 2025 include: 1) Reduced working capital 10,535 MB; 2) Restructured operations the discontinuation of non-performing businesses and cost savings totaling more than 4,300 MB per year; and 3) Controlled capital expenditures (CAPEX) by prioritizing projects with high and quick returns, executed as planned at 30,737 MB. These measures collectively resulted in a reduction in net debt of 14,845 MB, with the net debt-to-EBITDA ratio improving to 5.5 times from 6.3 times previously. The company remains financially stable and robust, with cash reserves totaling 52,447 MB at the end of the year.
Looking ahead to 2026, SCG assesses that while the global and Thai economic environment remains slow, opportunities are beginning to emerge from several positive signals. These include the Chemicals Business being expected to remain stable, supported by a slowdown in new global capacity additions and a softening trend in raw material prices. In addition, economic stimulus and investment measures by the government are expected to continue, supporting businesses related to cement and building materials. In the Packaging Business, demand for packaging is expected to continue growing, driven by domestic consumption in ASEAN economies that continue to expand, while demand for paper packaging is also expected to increase. Furthermore, Vietnam’s economic growth continues to show a positive trend, conducive to investment and market expansion in Vietnam. SCG has outlined four key strategic directions to accelerate capturing these opportunities in 2026, as follows:
1.) Intensifying financial discipline to ensure stable cash flow, prudent capital investment, cost reduction through clean energy, and efficiency enhancement through AI and robotics
2.) Strengthening capabilities across the organization
- Advancing the “Regional Optimization” strategy by positioning Vietnam as a key production base for products such as Low Carbon Cement, glazed porcelain tiles, and strategic investments, which currently account for 27% of SCG’s total assets. This is to support domestic consumption and global exports, underpinned by positive factors including Vietnam’s projected GDP growth of 7.0% in 2026, competitive cost structures, and advantages from free trade agreements (FTAs) with more than 60 countries.
- Expanding the portfolio of high-growth products and services, including “Smart Value Products (SVP)”, “High Value Added (HVA) Products,” and “Green products.”
3.) Reinforcing long-term growth engines, such as the Ethane Feedstock Enhancement Project at the LSP plant in Vietnam (LSPE) to enhance feedstock flexibility. The project is progressing as planned and is expected to be completed by the end of 2027.
4.) Staying resilient and ready to navigate every challenge by consistently assessing all-around opportunities and challenges to ensure readiness to handle every situation rapidly.
With regard to efforts to enhance business capabilities in 2026, the key initiatives include:
1.) Businesses related to cement and building materials
- SCG Cement and Green Solutions, SCG Smart Living, and SCG Distribution and Retail
- Strengthening competitive capabilities and reducing costs by utilizing renewable energy, alternative fuels and implementing AI across production processes, such as predictive models for machinery maintenance, production process and product quality control, as well as enhancing customer services through AI on SCG HOME Online, which helps recommend products, compare alternatives, and simplify customer decision-making.
- Accelerating the advancement of high-tech innovation, such as the development of Low Carbon Cement Generation 4 with greater carbon reduction potential, and Ultra-High Performance Concrete (UHPC), offering superior strength and durability.
- Optimizing the product and service mix to better serve diverse market and customer segments, covering SVP, HVA, and Green Products for customers seeking differentiation and prioritizing net zero emission, as well as developing service offerings for home and building renovation markets, including roof installation and repair services, noise mitigation solutions using soundproof wall systems, energy-saving solutions such as solar rooftops, and PM2.5 mitigation through Active Air Quality solutions from ONNEX by SCG.
- Adjusting sales and distribution strategies in line with market conditions and competitive dynamics by leveraging a strong wholesale distribution network as the core mechanism to access customers nationwide, shifting the retail business model from centralization to localization to enhance agility and better respond to local customer needs, and developing sourcing and logistics systems to control costs, strengthen profitability for dealers within the network, and enhance long-term competitiveness.
- SCG Decor
- Reducing production costs by targeting an 11% increase in the use of biomass fuel and an additional 2 MW of solar energy capacity.
- Expanding into the Vietnam domestic and export markets by increasing production capacity of glazed porcelain tiles, HVA, by an additional 6.6 million square meters per year. Upon completion, PRIME’s total glazed porcelain tile production capacity will exceed 26 million square meters per year, supporting growth in the domestic market, particularly driven by public sector investment in urban development and infrastructure projects across Vietnam in 2026.
2.) SCGC
- Continuing the LSP operations to fully optimize existing assets, while enhancing operational efficiency, reducing costs, maintaining its customer base, and managing feedstock flexibility, alongside progressing the ethane feedstock enhancement project, which is expected to be completed in 2027.
- Increasing the proportion of HVA to more than 60% of downstream sales in Thailand, expanding the share of Green Polymers, and broadening solution-based services for industrial customers to enhance competitiveness and reduce long-term volatility from industry cycles.
- Executing divestment continuously to align with strategic directions and improving capital allocation efficiency.
3.) SCGP continues to drive growth and enhance profitability through mergers and partnerships (M&P), business expansion, and machinery efficiency improvements, particularly in Vietnam and Indonesia, as well as market expansion in India. The focus remains on investing in consumer packaging segments to strengthen capabilities and integrate production operations. SCGP has also implemented strategies to enhance production efficiency and cost management by deploying robotics, collaborative robots (cobot), and automation systems across manufacturing processes, strengthening competitiveness and enabling the delivery of end-to-end packaging solutions tailored to customer needs. In addition, SCGP is deepening collaboration with customers to jointly develop and advance environmentally friendly packaging innovations, while simultaneously managing and reducing greenhouse gas emissions.
4.) SCG Cleanergy is accelerating its strategic execution by advancing projects currently under development toward completion, while enhancing the operational efficiency of projects that have already commenced commercial operations to their full potential. SCG Cleanergy is strengthening collaboration with customers and partners, developing cost-effective and technically responsive solutions, and securing competitive financing to support sustainable growth. In addition, SCG Cleanergy is building upon its Smart Grid Platform by leveraging Generative AI to enhance the accuracy of renewable energy forecasting (RE Forecast) and upgrade smart maintenance capabilities, supporting Direct Power Purchase Agreements (Direct PPA) through third-party access to strengthen future clean energy infrastructure readiness. The company is also developing commercial Heat Battery solutions in collaboration with Rondo and leading industrial customers to further reduce costs and better meet practical operational needs
“Although 2026 will continue to present challenges from both the global and Thai economies, SCG will move forward to strengthen its financial position, enhance competitive capabilities across all businesses, remain ready to overcome every challenge, and actively seek new growth opportunities. We are confident that we are ‘Intensified – Strengthened – Reinforced – Resilient’,” Mr. Thammasak concluded
SCG has distributed an interim dividend of 2.50 Baht per share for the first half of the year on August 28, 2025 and will pay a final dividend of 2.50 Baht per share. This dividend payment will be distributed to shareholders eligible for dividends according to the company’s regulations, based on the shareholder list as of the record date on April 2, 2026 (the XD date will be April 1, 2026). The dividend will be paid on April 21, 2026, and the receipt of such dividend shall be within 10 years.
