The share price of SCG Ceramics Public Company Limited (COTTO) rose ฿0.20/share or 7.58% to ฿2.84/share as of 15:34 local time in Thailand, with a trading value of 439 million baht, following its announcement of an outstanding 2Q21 earnings of 177 million baht, or an increase of 328% YoY.
SCG Ceramics Public Company Limited (COTTO) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
For the period of 2Q21, profit for the period amounted to 177 million baht, increased 328% y-o-y and EBITDA amounted to 384 million baht, increased 69% y-o-y. Consolidated revenue from sales increased 16% y-o-y to 2,807 million baht, mainly from (1) sales volume increased from positive market demand in upcountry, (2) efficiency increasing in management and operations, and (3) continuously improved production efficiency. However, there was a non-recurring item, which was the Mutual Separation Plan expense (MSP) which amounted to 6 million baht. Without MSP, EBITDA would increase71% y-o-y.
For the period 6M21, revenue from sales registered 5,613 million baht, increased 12% y-o-y due to rising in total sales volume from both domestic and export, amounted to 34.9 million sq.m, increased 11% y-o-y, thanks to increasing demand. While the average selling price decreased 1% y-o-y. Profit for the period amounted to 364 million baht, increased 119% y-o-y and EBITDA amounted to 781 million baht, increased 38% y-o-y .However, there was a non-recurring item, which was Mutual Separation Plan expense (MSP) amounted to 6 million baht. Without MSP, profit for the period and EBITDA would increase 122% y-o-y and 39% y-o-y, respectively.
For the period of Q2/21, finance costs amounted to 1 million baht, compared to 2Q20 amounted to 3 million baht, which was interest expense on the lease contract under Thai Financial Reporting Standards no. 16 “Leases” (TFRS 16). The company had no short-term and long-term loans from financial institutions.