Reference
·Primary source
Sahaviriya Steel Industries (SSI) revenue trend
THB 26.3B (2024)
Sahaviriya Steel Industries (SSI: SET) reported sales and service revenue of THB 26,320 million in 2024 per audited annual filings, down from THB 33,933 million in 2022 and recovering modestly from a THB 18,125 million COVID trough in 2020 (-28% YoY). 2024 revenue was nearly flat versus 2023 (THB 25,362 million) as HRC sales volume settled around 1-1.2 million tonnes against a 4 million tonne installed capacity (utilisation ~25-30%). SSI is the largest HRC mill in Thailand by capacity but the persistent China import overhang has compressed its realisations and kept the equity range-bound on the SET small-cap board.
Figure in context
Sahaviriya Steel Industries (SSI: SET) reported sales and service revenue of THB 26,320 million in 2024 per audited annual filings, down from THB 33,933 million in 2022 and recovering modestly from a THB 18,125 million COVID trough in 2020 (-28% YoY). 2024 revenue was nearly flat versus 2023 (THB 25,362 million) as HRC sales volume settled around 1-1.2 million tonnes against a 4 million tonne installed capacity (utilisation ~25-30%). SSI is the largest HRC mill in Thailand by capacity but the persistent China import overhang has compressed its realisations and kept the equity range-bound on the SET small-cap board.
Interpretation notes
What this tells you
Sahaviriya Steel Industries (SSI: SET) reported sales and service revenue of THB 26,320 million in 2024 per audited annual filings, down from THB 33,933 million in 2022 and recovering modestly from a THB 18,125 million COVID trough in 2020 (-28% YoY). 2024 revenue was nearly flat versus 2023 (THB 25,362 million) as HRC sales volume settled around 1-1.2 million tonnes against a 4 million tonne installed capacity (utilisation ~25-30%). SSI is the largest HRC mill in Thailand by capacity but the persistent China import overhang has compressed its realisations and kept the equity range-bound on the SET small-cap board.
What not to do with it
Values in THB billion. Source: SSI audited annual sales and service revenue. 2025 outlook flat-to-weaker on continued import pressure.
Related figures
Adjacent numbers that add context without drowning the value.
Thailand steel and metal products sector revenue (2020-2024)
Iron & Steel Institute of Thailand, Federation of Thai Industries Steel Industry Club, Krungthai COMPASS, Statista
Thailand finished steel production share by mill
Sahaviriya Steel Industries annual report, Iron & Steel Institute of Thailand mill survey, Tata Steel Thailand filings, Hyundai Steel disclosures
Thailand HRC capacity utilisation (2020-2024)
Iron & Steel Institute of Thailand, South East Asia Iron & Steel Institute, Sahaviriya Steel Industries annual reports, Krungthai COMPASS sector note
Thailand steel imports from China (2020-2024)
Iron & Steel Institute of Thailand import statistics, Tata Steel Thailand investor presentations, Thailand Department of Foreign Trade anti-dumping case file, S&P Global commodity insights
Active Thai anti-dumping cases on Chinese steel
Thailand Department of Foreign Trade, S&P Global, GMK Center, Iron & Steel Institute of Thailand
Thailand EU CBAM Phase 2 exposure (steel)
Kasikorn Research Centre CBAM impact note, Nation Thailand, EU CBAM regulation, Iron & Steel Institute of Thailand