Domestic cement market consumption recovered by 3 percent for the 3rd quarter of 2009 compared to the same period of 2008, as confidence started to come back and under the influence of public spending. While the 9-month figure to September 2009 showed a 6 percent contraction vis-?-vis 2008 as a result of lower demand in the first half of the year.
Consolidated net sales for Q3 of 2009 were at 4,915 million baht, 4.4 percent lower than the 5,144 million baht net sales posted during the same period last year, while the consolidated net sales for the 9-month period were 14,963 million baht which is 6.9 percent lower than the 16,068 million baht net sales posted during the same period last year.
Thanks to the Company’s determination to reduce fixed costs and increase production efficiency, operating profit margin reached 20.5 percent and is almost on par with the 20.8 percent during the same period last year. Year-to-date consolidated net income attributable to equity holders of the parent was 2,242 million baht with earnings per share of 9.75 baht, compared to 2,497 million baht, or earnings per share of 10.86 baht in the same period of 2008.
At the same time, significant net working capital reduction contributed to a 31.4 percent increase in operating cash flow at 2,979 million baht for the 9 months ending September 2009, compared to 2,267 million baht in the same period of 2008. The Company also increased its cash flow margin to 19.9 percent, against 14.1 percent in the previous year.
In terms of outlook, SCCC is still cautious on near-term growth prospect. The Company expects to see a flat domestic cement market in the 4th quarter of 2009 and a moderate 2% recovery in 2010. Moreover, the company feels that the worst is over and the industry is heading towards an eventual recovery.
As Siam City Cement celebrates this year its 40th anniversary, the Company looks forward to pursuing its sustainable growth, with its customers, communities, business partners and employees, while staying fully committed to its social responsibility.
Issued by: Siam City Cement Plc.
For further information: Mr. Kantanit Sukontasap
Vice President, Group Communications
Siam City Cement Plc.
Tel: 0 2797 7060