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Siam Cement profit misses consensus by 24.4% in Q4

The Siam Cement Public Company Ltd said its normalized net income for the fourth quarter came to 6.44 baht per share, compared with the S&P Capital IQ consensus estimate of 8.52 baht per share.

EPS climbed 23.1% year over year from 5.23 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.73 billion baht, a gain of 23.1% from 6.28 billion baht in the prior-year period.

The normalized profit margin climbed to 7.8% from 5.9% in the year-earlier period.

Total revenue decreased 5.7% year over year to 99.61 billion baht from 105.62 billion baht, and total operating expenses decreased 7.8% year over year to 89.98 billion baht from 97.64 billion baht.

Reported net income increased 9.0% year over year to 12.48 billion baht, or 10.40 baht per share, from 11.45 billion baht, or 9.54 baht per share.

For the year, the company's normalized net income totaled 26.90 baht per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 42.73 baht.

EPS rose from 23.43 baht in the prior year.

Normalized net income was 32.28 billion baht, a gain from 28.12 billion baht in the prior year.

Full-year total revenue declined on an annual basis to 423.44 billion baht from 439.61 billion baht, and total operating expenses fell year over year to 364.17 billion baht from 386.25 billion baht.

The company said reported net income rose year over year to 56.08 billion baht, or 46.74 baht per share, in the full year, from 45.40 billion baht, or 37.83 baht per share.

As of Feb. 16, US$1 was equivalent to 35 baht.