Bilyonaryo - Business

Holcim Philippines struggles with lower revenues and rising energy costs

March 25, 2023

Bilyonaryo.com

Cement giant Holcim Philippines’ net income dropped by 63 percent to P941.8 million in the past year, mainly due to reduced sales and increased production costs.

Revenues declined to P26.6 billion from P26.9 billion due to lower sales volumes, despite improved prices, and decreased demand from private infrastructure projects.

The company’s margins were negatively impacted by higher energy prices, despite reduced consumption of imported clinker and cement.

To counteract the rising costs of coal, fuel, and power, Holcim implemented a series of price increases during the year and pursued cost-reduction measures.

However, these actions were insufficient to offset the extraordinary 60 percent surge in fuel and energy costs compared to the previous year.

Related News Tags: energy, Holcim Philippines, infrastructure, production

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