Siam Cement Group Aims for Cost Reduction and Business Restructuring Amid Economic Challenges

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Siam Cement Group,Cost Reduction,Working Capital Optimization

SCG, Siam Cement Group, reported a slight revenue increase to P609.9 billion in the first nine months of 2024, but saw a 10% decrease in EBITDA. Despite economic turbulence, SCG forecasts a three percent revenue increase for 2024 and is implementing cost-cutting measures, optimizing working capital, and restructuring operations.

The Siam Cement Group targets cost reduction, working capital optimization, and business restructuring

To navigate these challenges, SCG is implementing cost-cutting measures, including a $144 million reduction by 2025 and a $287 million working capital decrease by Q1/2025. While facing headwinds, SCG remains committed to its ASEAN expansion, with Vietnam and Indonesia driving 10% sales growth in the past nine months.

Additionally, SCG is driving innovation with its Generation 2 Low Carbon Cement, which has seen an 86% replacement rate, and expanding its SCGC GREEN POLYMER™ brand. SCG Green Polymer™ continues to gain traction, with recent partnerships yielding eco-friendly packaging solutions.

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