Equity Analysis /
Thailand

TH : Siam Cement - Rising concern on feedstock costs

    CGS-CIMB
    26 January 2021
    Published byCGS-CIMB

    SCGP managed to increase packaging paper prices to cover OCC costs in 4Q20 but the EBITDA margin outlook in 1H21F could be challenging. Rising naphtha cost has led to chemical spread correction in Jan 21.