SCG records higher profits in 2020 despite COVID-19 constraints

February 04, 2021 | 09:54
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SCG has announced strong operating results despite COVID-19, attributable to employees' dedication, active approach, agility, and use of digital technology to fulfil market needs.
scg records higher profits in 2020 despite covid 19 constraints
The global pandemic could not keep down SCG

According to its report, SCG’s Revenue from businesses outside of Thailand, together with export sales from Thailand registered VND129.784 trillion ($5.64 billion), in 2020, or 42 per cent of total revenue from sales, higher than the 41 per cent in the previous year.

As of December 31, 2020, the total assets of SCG amounted to VND576.952 trillion ($25.1 billion), while the total assets of SCG in ASEAN (excluding Thailand) amounting to VND218.374 trillion ($9.5 billion) which is 38 per cent of SCG’s total consolidated assets.

Based on its fourth quarter 2020 report, SCG in Vietnam owned VND111.044 trillion ($4.83 billion) worth of total assets, an increase of 50 per cent on-year, mainly generated by its chemicals business. The company's revenue from sales in the fourth quarter was VND6.855 trillion ($296 million) which includes sales from both operations in the country and imports from the Thai operations. This represents a decrease of 3 per cent on-year. For 2020, SCG’s Vietnamese market reported revenue from sales of VND26.574 trillion ($1.15 billion), which is a 10 per cent decrease on-year, mainly from the operation of cement-building materials business and exports from Thailand.

SCG Vietnam adheres to conducting socially responsible business and community and social development and fosters sustainable growth in all regions and communities where the group operates. As a result, SCG Vietnam gained significant business achievements. SCG Concrete Roof Vietnam ranked amongst the Top 100 Sustainable Companies in Vietnam by the Vietnam Business Council for Sustainability (VBCSD). Besides, PRIME Group, the country's leading tile producer, is recognised as the ASEAN Outstanding Enterprises 2020 Vietnam Award for its positive contributions to national and regional development. The construction progress of Long Son Petrochemicals Project's (LSP), Vietnam's first fully integrated petrochemicals complex, has been on track and is scheduled to be fully operational at the beginning of 2023.

"Passion For Better" continues to deliver the brand promise. SCG Vietnam has been coming up with projects for communities. The first Outdoor Gym Model in Quang Binh province, a successful partnership between SCG, Youth Union, and the local communities, has opened. The outdoor gym aims to improve residential wellness and create a community public space. It is built from selective high-quality materials from SCG Cement Building Materials products, including SCG Super Cement, Song Gianh Cement, SCG Smartwoods, and COTTO, adding durability and functionality. And the ongoing "SCG Sharing the Dream Scholarship" supports 40 students throughout their study at university.

To expand the circular economy concept to contribute to sustainable growth to the communities, SCG Vietnam has kicked off the first waste-segregation project at Long Son Primary school. The project has received positive support from the community and has achieved encouraging results for the first operational phase.

Roongrote Rangsiyopash, president and CEO of SCG, said that, “The operating performance in 2020 remained resilient amid challenges posted by the COVID-19 pandemic, thanks to the collective effort of SCG employees who placed great priority on safety and business continuity. The team adopted new strategies and introduced a series of agile business approaches from modifying business plans, altering sales proportions, and developing active omni-channel to meet changing customer behaviours. These efforts enabled SCG to deliver a comprehensive range of innovations, products, services, and solutions that catered to the market’s demand."

"Going forward, SCG will continue to implement a hybrid workplace model that allows SCG employees to work from home and use technologies to interact with partners and provide customer services. SCG staff at production and maintenance facilities will continue to adopt a “pod approach” where areas and functions are segregated to ensure minimal contact between critical and non-critical staff. Staff working overseas will be kept at the production site to keep operations undisrupted. And staff having contacts with outside customers will follow strict hygienic practices to ensure customers’ confidence. With proactive measures and the determination of all SCG people, I believe SCG will once again overcome the uncertainties raised by the new wave of COVID-19 pandemic," he added.


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