SCGD Posts 163% Surge in Q3 Adjusted Profit Driven by Vietnam Tile Demand and Product Expansion

Brickinfo News Agency – SCG Decor Public Company Limited (SCGD) reported an adjusted net profit of THB 308 million for the third quarter of 2026, marking a 163% increase quarter-on-quarter, driven by strong sales of glazed porcelain tiles in Vietnam and expanding regional operations.

Total sales revenue reached THB 5,638 million, up 5% from the preceding quarter, supported by rising construction material demand in regional markets and an export capability strengthened by competitive manufacturing costs. Additionally, debt refinancing lowered the company’s average borrowing cost from 2.4% to 1.7%, bolstering quarterly profitability.

For the first nine months of 2026, SCGD recorded an adjusted net profit of THB 657 million, down 8% year-on-year, alongside an adjusted cash EBITDA of THB 2,217 million, down 10%. The decline reflected sluggish conditions in the domestic Thai market as well as non-recurring restructuring expenses and asset write-offs from plant consolidation implemented in the second quarter. Excluding these non-recurring items, normalized profit stood at THB 808 million and EBITDA reached THB 2,405 million.

To sustain operational momentum and manage domestic slowdowns, the company is advancing strategic capital investments across Southeast Asia. In Vietnam, SCGD is expanding its annual glazed porcelain tile production capacity by 13 million square meters, with operations scheduled to begin in the first half of 2027 to serve domestic demand and export shipments to Malaysia and the Philippines.

In Thailand, the company is consolidating ceramic tile operations, installing machinery for large-format porcelain tiles, and scaling up high-growth segments. Revenue from new product categories rose 29% year-on-year in the first nine months. Stone Plastic Composite (SPC) flooring sales increased 24%, prompting an investment to double production capacity from 1.44 million to 2.88 million square meters annually by the second quarter of 2027. Sales of smart toilets and connected sanitary ware grew 13%, backed by brand rollouts under SENSIS and KLIRR, alongside a partnership facility for AXENT targeted for commercial launch in mid-2027.

The company closed the quarter with cash and cash equivalents of THB 8,345 million, a net debt-to-adjusted EBITDA ratio of 1.2 times, and a net debt-to-equity ratio of 0.2 times. Supported by seasonal fourth-quarter demand across Vietnam, Indonesia, and post-flood home repairs in Thailand, management expects full-year 2026 profit to surpass 2025 levels while targeting an EBITDA goal of THB 3,500 million by 2028.