Specifically: Revenue in the quarter reached VND85.48 trillion (USD3.57 billion), down 12% year-on-year. The main reason was that the revenue of member companies all decreased, along with the bottom cycle of the petrochemical industry and the regional economy has not recovered.
Meanwhile, profit after tax reached VND1.66 trillion (US$69 million) and operating profit was VND2.1 trillion (US$86 million), up 26% year-on-year with a strong cash reserve of VND68.86 trillion (US$2.84 billion). To achieve these results, SCG has continuously adjusted its business strategy and strengthened its management, thereby maintaining stable finances.
In the fourth quarter, the economy in Southeast Asia is expected to improve, especially in Indonesia, where investment and consumption are expected to increase thanks to the construction of the new capital city “Nusantara”. Meanwhile, the Thai economy is expected to recover thanks to the real estate and tourism sectors, benefiting from increased tourist traffic. Furthermore, electricity costs and diesel prices may adjust downward, creating the premise for better control of energy costs."
In the Vietnamese market, the Company reported sales revenue of VND21.92 trillion (US$926 million) for the first nine months of 2023, down 28% year-on-year. The decline in all business segments was mainly due to lower sales revenue from LSP, TPC VINA and the Cement - Construction Materials segment as well as lower exports from Thailand.
Accordingly, SCG prioritizes business development in parallel with environmental benefits, in compliance with the group's ESG 4 Plus strategy. With the success of the ESG Symposium in Thailand, SCG continues to expand its scale throughout Southeast Asia, with thematic events to be held in Indonesia and Vietnam this November.
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