BANGKOK — SCG Decor Public Company Limited (SCGD) has unveiled an ambitious five-year growth strategy targeting 4.5 billion baht in EBITDA and a doubling of earnings per share by 2031, as the Thai building materials company accelerates its push to become a fully integrated interior products leader across ASEAN.
The company is betting heavily on the combined strengths of Thailand and Vietnam, expanding into new product categories, improving manufacturing efficiency and using regional integration to unlock growth across Southeast Asia.
SCGD has also set an interim target of 3.5 billion baht in EBITDA by 2028, marking a significant step toward its longer-term 2031 ambitions.
Thailand and Vietnam to Drive SCGD’s Next Chapter
At the centre of SCGD’s new strategy is what the company calls regional optimisation — a plan to connect the competitive strengths of its operations across ASEAN.
Thailand is expected to play a major role in product development and manufacturing efficiency, while Vietnam is being positioned as an increasingly important production and export hub for the region.
SCGD believes the combination could allow it to improve costs, respond more effectively to changing customer demand and expand its reach beyond individual national markets.
Vietnam has already emerged as one of the company’s major growth priorities. Earlier this year, SCGD announced plans to expand production capacity there while transforming its Thai manufacturing operations to improve competitiveness against imported products.
Three Major Engines Behind the B4.5 Billion Target
SCGD’s five-year strategy will focus on three key growth areas.
First, the company plans to expand into new product businesses, allowing it to move beyond its traditional strength in decorative surfaces and sanitaryware.
Second, it aims to improve profitability through greater manufacturing consolidation and regional production efficiency across ASEAN.
Third, SCGD plans to capture more growth opportunities in Vietnam, which is expected to become a key manufacturing and export base supporting expansion throughout Southeast Asia.
The strategy represents a shift away from treating individual markets as largely separate operations.
Instead, SCGD wants to build a more interconnected regional business.
Smart Toilets and New Products Part of Growth Push
SCGD is also expanding its focus on higher-growth product categories.
The company previously announced a partnership with a Chinese manufacturer to develop high-quality smart toilets, targeting growing demand in the sanitaryware market.
The move reflects a wider effort to diversify SCGD’s business portfolio and capture opportunities in more advanced and higher-value interior products.
SCGD’s investor strategy identifies several major growth directions, including expanding its bathroom business across ASEAN, strengthening its leadership in decorative surfaces, entering new growth businesses and improving regional sourcing and production optimisation.
Company Already Showing Signs of Growth
The ambitious new targets come after SCGD reported improving operating performance in 2026.
During the second quarter, excluding non-recurring items, the company reported:
- 5.37 billion baht in sales revenue
- 805 million baht in adjusted EBITDA
- 268 million baht in profit
- An adjusted EBITDA margin of approximately 15%
For the first half of 2026, SCGD reported revenue of 10.92 billion baht, adjusted EBITDA of 1.57 billion baht and adjusted profit attributable to shareholders of 500 million baht.
The company said overseas growth, particularly in Vietnam, helped support its performance, alongside cost management and efforts to manage energy price volatility.
ASEAN Construction Market Remains the Big Opportunity
SCGD’s long-term expansion is based partly on its view that construction and property markets across ASEAN continue to offer growth opportunities despite global economic uncertainty.
The company has been positioning itself as an Integrated ASEAN Player, combining customer insights, product innovation and modern manufacturing technology.
Its operations already span several important markets, including Thailand, Vietnam, Indonesia and the Philippines.
Vietnam accounted for 1.395 billion baht in second-quarter 2026 sales revenue, while the Philippines contributed 507 million baht and Indonesia generated 300 million baht, highlighting the importance of SCGD’s growing regional footprint.
From Thai Manufacturer to Regional Interior Products Powerhouse
The new strategy signals SCGD’s intention to move beyond being primarily known as a Thai construction materials company.
Its goal is to become a more complete regional player in interior products by connecting decorative surfaces, bathroom products, new technologies and regional manufacturing capabilities.
The challenge will be significant.
SCGD operates in an environment affected by changing property demand, competition from imported products, volatile energy costs and uncertain global economic conditions.
But the company believes regional integration could give it a stronger competitive advantage.
By allowing Thailand to focus on innovation and manufacturing efficiency while Vietnam expands as a production and export centre, SCGD hopes to create a network capable of serving customers across ASEAN more effectively.
The Bottom Line
SCGD is making a major bet on ASEAN.
The company wants to reach 4.5 billion baht in EBITDA and double its earnings per share by 2031, powered by new businesses, smarter manufacturing and deeper integration between Thailand and Vietnam.
With Vietnam emerging as a regional production and export powerhouse and Thailand strengthening its role in product development and manufacturing efficiency, SCGD is building for a future where ASEAN operates as one connected growth engine.
The message behind SCGD’s new plan is clear: the company is no longer just competing market by market. It is building a regional strategy designed to turn Thailand and Vietnam into the twin engines of its next ASEAN growth story.
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