Thai SCG's 2025 Vietnam revenue rises 9.7% to $1.7 bln

Siam Cement Group (SCG) reported an 9.7% uptick in revenue in Vietnam last year, underscoring the country’s growing role as a key growth engine for the Thai conglomerate amid weaker conditions in other markets.

According to its statements, SCG booked $1.7 billion in revenue from Vietnam in 2025, up from $1.55 billion in 2024 and accounting for over 11% of the group’s total revenue of $15.1 billion.

By contrast, SCG’s overall revenue across all markets declined 3% year-on-year, highlighting Vietnam as a relative bright spot.

Despite the revenue decline at group level, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 6% to $1.7 billion, supported by cost controls and operational improvements.

In 2025, SCG faced challenges from the global economic slowdown, geopolitical conflicts, and volatile energy costs, which affected all industries, particularly the petrochemical sector, CEO Thammasak Sethaudom said.

Against the backdrop of challenges in many markets, Vietnam continues to show positive growth signals, Thammasak said, describing the country as SCG’s growth hub.

He added that Vietnam is not only an expanding domestic market but also production base to serve domestic demand and global export markets.

SCG’s $5 billion Long Son Petrochemicals Complex in Ho Chi Minh City, which resumed operations in August 2025, is expected to help stabilize the group’s petrochemical business as market conditions gradually improve, the executive noted.

Looking ahead, SCG has outlined four strategic priorities for Vietnam, aiming to capitalize on the country’s ambitions for double-digit GDP growth. A central focus is the $500 million Long Son Petrochemicals upgrade project, scheduled for completion by the end of 2027.

The group also plans to strengthen synergies between its Thailand and Vietnam operations, including leveraging shared markets and supply chains. At the same time, SCG said it would continue investing in workforce development and accelerate the adoption of digital tools, robotics, and artificial intelligence to boost productivity.

SCG has operated in Vietnam since 1992 and currently runs 28 subsidiaries across building materials, smart living solutions, chemicals, packaging, and logistics. In 2025, the firm contributed more than $31.5 million to Vietnam’s state budget, according to the company.