August 9, 2022 | |
No.: | COTTO 017/2022 |
To: | Director and Manager, the Stock Exchange of Thailand |
Subject: | Management's Discussion and Analysis (MD&A) for the period of Q2/22 and 6M/22, ended June 30, 2022 |
(Reviewed) |
SCG Ceramics Public Company ("The Company") hereby submits the reviewed interim consolidated financial statements and management discussion and analysis ( MD&A) for the period of Q2/ 22 and 6M/ 22, ended June 30, 2022. Details of the operating results are as follows:
For the period Q2/22, consolidated revenue from sales amounted to 3,376 MB, increased 19% y-o-y. Total sales volume increased 14% y-o-y from both domestic and export while average selling price increased 5% y-o-y. Profit for the period amounted to 167 MB, decreased 6% y-o-y and EBITDA amounted to 371 MB, decreased 3% y-o-y due to continuously increasing in energy cost and raw material cost. However, improving cost management and production efficiency were continuously conducted in order to mitigate the impact of high production costs.
For the period 6M/22, revenue from sales registered at 6,606 MB, increased 17% y-o-y due to an increase in total sales volume from both domestic and export to stand at 39.7 million sq.m, increased 14% y-o-y, thanks to an increase demand while average selling price increased 3% y-o-y. Profit for the period amounted to 378 MB, increased 4% y-o-y and EBITDA amounted to 790 MB, increased 1% y-o-y.
Table1: Consolidated financial Summary
Unit: Million Baht | Q2 | %change | %change | Jan.- Jun. | %change | ||
2022 | Y-o-Y | Q-o-Q | 2021 | Y-o-Y | |||
Revenue from Sales | 3,376 | 19% | 4% | 6,606 | 17% | ||
Profit for the Period | 167 | -6% | -21% | 378 | 4% | ||
EBITDA | 371 | -3% | -12% | 790 | 1% | ||
Earning per Share (Baht) | 0.03 | -6% | -21% | 0.06 | 4% | ||
Note: | EBITDA | = Earnings before interest, tax, depre.&amortization | |||||
Profit for the Period | = Profit for the Period attributable to owners of the parent |
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For the period of Q2/22, finance costs amounted to 1 MB, which was stable y-o-y, from the 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 loan from financial institute.
Table2: Debt Profile
Unit: Million Baht | Q2 | Q1 | Q4 | Q2 | ||
2022 | 2022 | 2021 | 2021 | |||
Short-Term Loan | - | - | - | - | ||
Baht | - | - | - | - | ||
Foreign | - | - | - | - | ||
%of Total Loan | n/a | n/a | n/a | n/a | ||
Total Loan | - | - | - | - | ||
Cash and cash equivalents | 1,346 | 1,692 | 1,324 | 1,056 | ||
Total Net Debt (Net Cash) | (1,346) | (1,692) | (1,324) | (1,056) | ||
Financial Ratios | Q2 | Q1 | Q4 | Q2 | ||
2022 | 2022 | 2021 | 2021 | |||
EBITDA on Assets (%) | 13% | 14% | 12% | 13% | ||
Current Ratio (times) | 3.0 | 2.9 | 3.7 | 3.1 | ||
Quick Ratio (times) | 1.4 | 1.5 | 1.7 | 1.3 | ||
Interest Coverage (times) | 397.1 | 471.2 | 242.3 | 469.6 | ||
Net Debt to EBITDA (times) | n/a | n/a | n/a | n/a | ||
Net Debt to Equity (times) | n/a | n/a | n/a | n/a | ||
Debt to Equity (times) | 0.3 | 0.3 | 0.2 | 0.3 | ||
Return on Equity (%) | 8% | 9% | 6% | 8% | ||
Note: | Net Debt | = | Total debt (interest bearing exclude lease liabilities ), less cash and cash equivalents | |||
EBITDA | = | Earnings before interest, tax, depre.&amortization | ||||
EBITDA on Assets | = | Annualized EBITDA, to Total Consolidated Assets | ||||
Current Ratio | = | Curerent Assets, to current liabilities | ||||
Quick Ratio | = | Cash+short term investments+receivable, to current liabilities | ||||
Interest Coverage | = | EBITDA, to interest expense | ||||
Net Debt to EBITDA | = | Net debt, to annualized EBITDA | ||||
Net Debt to Equity | = | Net debt, to equity & non-controlling interest | ||||
Debt to Equity | = | Total Liabilities, to equity & non-controlling interest | ||||
Return on Equity | = | Annualized Net profit, to average total shareholder's equity | ||||
(not including non-controlling interest) |
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As of June 30, 2022, Total assets amounted to 12,259 MB, where current assets amounted to 6,729 MB, property, plant and equipment amounted to 4,704 MB and others non-current assets amounted to 826 MB.
Total liabilities amounted to 2,910 MB, where trade and other current payables liabilities amounted to 2,021 MB, others current liabilities amounted to 201 MB and others non-current liabilities amounted to 688 MB.
Total equity attributable to owners of the parent amounted to 9,349 MB, which 100% of total shareholder's equity.
Table3: Statement of Financial Position
Unit: Million Baht | June | December | June |
2022 | 2021 | 2021 | |
Total Assets | 12,259 | 11,521 | 11,568 |
Current Assets | 6,729 | 5,872 | 5,770 |
Cash, cash equivalent | 1,346 | 1,324 | 1,056 |
Short term investment | 200 | - | - |
Trade and other current receivables | 1,721 | 1,348 | 1,404 |
Inventories | 3,032 | 2,770 | 2,823 |
Land development for sale | 430 | 430 | 487 |
Property, plant and equipment | 4,704 | 4,825 | 4,928 |
Others non-current Assets | 826 | 824 | 870 |
Total Liabilities | 2,910 | 2,271 | 2,565 |
Current Liabilities | 2,222 | 1,597 | 1,880 |
Trade and other current payables | 2,021 | 1,487 | 1,698 |
Loans | - | - | - |
Others | 201 | 110 | 182 |
Others non-current Liabilities | 688 | 674 | 685 |
Total Shareholders' equity | 9,349 | 9,250 | 9,003 |
Sincerely yours,
(Numpol Malichai)
Managing Director
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SCG Ceramics pcl published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 12:55:08 UTC.