Continued focus on sustainability and efficiency, coupled with the absence of a one-time cost last year, powered Holcim Philippines’ earnings to more than double in the first nine months of the year.
Holcim Philippines reported a net income of P999.4 million during the period, marking a 105 percent surge from last year’s P488 million.
“Sustainability and innovation were key drivers of our performance,” said Holcim Philippines President and CEO Horia Adrian.
“Our positive results were bolstered by a focus on decarbonizing operations, conserving natural resources through circularity, and embracing digitalization for efficiency and enhanced customer service,” Adrian added.
Despite improved profitability for the period, Holcim Philippines’ net sales dipped by four percent to P18.4 billion, with the cement business affected by lower market demand driven by slow construction activities and inclement weather conditions.
The company said
that its revenue diversification strategy, in line with its transformation into a building solutions provider, is delivering results.
Holcim said that its aggregates business continued its solid contribution due to improved price and volume from last year, while the dry mix business recorded net sales growth.
Along with greater engagements with key stakeholders, we strengthened our company’s ability to adapt to a very dynamic market, and we are prepared to capture opportunities once the market improves,” Adrian said.
“We are ready to support the government’s plan to promote the use of locally-manufactured materials in infrastructure projects with our reliable supply of high-performance and low-carbon cements and other innovative building products and solutions.
These will help us accelerate green growth and help the country build better,” he added.