SCGP announces its sales revenue during the first 9 months of this year at Baht 89,078 million, an increase of 29%, with a profit of Baht 6,179 million, an increase of 24% from the same period of last year; meanwhile expects rising demand for packaging during the last quarter in step with ASEAN's recovery.
Mr. Wichan Jitpukdee, Chief Executive Officer, SCG Packaging Public Company Limited, SCGP announces that the Company has been able to improve its performance during the first 9 months of 2021, compared to the same period of last year, generating a total sales revenue of Baht 89,078 million, up by 29%, and a profit of Baht 6,179 million, up by 24%, while its EBITDA stands at Baht 15,741 million, up by 24%.
The increase in sales stems from a greater and steady demand for packaging products among industries relating to needs of daily life; including frozen food, canned food and fruit, ready meals, beverages, health products, and household products as well as recovery of export markets in the US, Europe and other regions which also contributes to the growth of packaging use. The Company, meanwhile, continues to advance on development of innovations to create greater product diversification in order to cater customers' needs. New technologies have also been entrenched in production process to ensure the Company's competitiveness.
Furthermore, SCGP has boosted investment in ASEAN in accordance with its strategic plan, which has seen during the first 9 months, through the closure of 3 merger and partnership (M&P) deals. These include operations of Fiber-based Packaging, Foodservice Packaging, and Rigid Plastic Packaging in Vietnam and Indonesia. Additional deals in the process, which are expected to be completed in the 4th quarter of 2021, include acquisition of shares in a manufacturer and distributor of high-quality Medical Supplies and Labware in Spain. The Company has also unveiled organic growth with an investment of Baht 11,793 million for building new production base in the North of Vietnam and studying opportunities for entering the South of China market combined.
Mr. Wichan adds that ASEAN expects to see a rise in packaging demands during this year's last quarter due to a rapid surge in purchasing power and reform of consumer confidence, aligning with improvement in industrial production efficiency throughout the supply chain. However, the situation with current energy prices impacting the overall global economy must be closely monitored.
In any event, SCGP confidently anticipates a steady and positive growth. In 2021 it is looking at a total sales revenue of more than Baht 100 billion and an investment for growing businesses of more than Baht 20 billion to maintain its position as the leading integrated packaging solutions provider in ASEAN. To achieve the objective, the Company will pay particular attention to developing a diversity of innovations to satisfy consumers' various needs and to respond to the megatrends in the Thai and ASEAN economies. State-of-the-art technologies, encompassing mechanization, automation and artificial intelligence, will be employed to assist analysis, forecasting, and improvement of production efficiency and productivity.
"Environmental protection will also receive special attention, including development of recyclable packaging and increased use of renewable energy in the production process, so as to achieve business sustainability in line with the company's Environmental, Social and Governance (ESG) policies," Mr. Wichan says.