Dear Shareholders,
The year under review has seen quite different developments in the countries our Group is operating in. Thailand remained stagnating with the political environment in a constant flux without comprehensive policy decisions which would support long-term economic growth including addressing the ever-increasing levels of private household debts, industrial competitiveness and the impacts of a rapidly aging society. It is hoped that the new Government, following the 2026 elections, will address these most pressing issues to bring the country back to a broad-based recovery which should bode well for our industry in coming years. Vietnam as a contrast has seen massive Government restructurings unseen since the early opening of the country back in the late 1980-ties with the Communist Party exerting undisputed leadership in policy setting including launching a massive infrastructure development program. The infrastructure-related initiatives are also trickling into the private sector, triggering a massive demand for construction materials including cement. After the elections in Sri Lanka the country continued to recover steadily till Cyclone Ditwah hit the country with an unprecedented impact. It remains to be seen how fast the country will be able to recover as international support is minimal, but reconstruction requirements should certainly support our industry. Bangladesh was heavily impacted by unresolved political leadership issues impacting demand for our industry. Recent elections in 2026 might hopefully see some stability in the political and social-economic environment as a pre-condition for a recovery in construction activities.
The Group’s operational and financial performance continued to improve in 2025 despite many headwinds and disruptions, and Management has demonstrated its capabilities to adjust both business strategies and organizations to ever changing market requirements, and as already outlined in the 2024 message, production capacities and product portfolios are being brought in line with market demands. Major Group-wide initiatives have been launched to strengthen our market positions in all countries and businesses we are operating in, and Management is confident that a renewed and stronger-than-ever focus on commercial excellence will position our Group for a solid growth trajectory in the years ahead.
The Board of Directors is pleased to report a net profit after tax attributable to equity holders of THB 3, 493 million, compared to THB 5,388 million in 2024. The difference in the net profit from 2024 to 2025 is the result of a one-time non-cash Purchase Price Adjustment from the Lanna consolidation of THB 1,819 million, completed end 2024. SCCC standalone performance improved by 21% in 2025 while Lanna performance declined due to lower coal price index. Although the Group balance sheet could be strengthened throughout the year under review, the Board of Directors has decided to maintain the same full year dividend of THB 11 per share as for the year 2024. The dividend proposal shall be tabled at the AGM No 33 (Year 2026) for approval by the Shareholders.
On behalf of the Board of Directors, I wish to thank all our employees for their dedicated engagement and contributions to continue and sustain the growth of our Group. We also like to thank all our shareholders for their continued support, all our business partners for upholding highest standards of professionalism in all we do together and the public at large for their support in the places our operations are at home.
