Equity Analysis /
Thailand

TH : Siam Cement - Inflationary pressure not yet priced in

    CGS-CIMB
    25 March 2022
    Published by

    Crude oil price of over US$80/bbl and ethylene/PE supply addition should lead to a sharp decline in SCC’s chemical EBITDA in 2022F. High coal price should also hit cement/packaging EBITDA margins in 2022F.