Holcim Philippines' strong 2Q results

Holcim Philippines' strong 2Q results
13 August 2015

Holcim Philippines Inc's strong sales continued in the second quarter of 2015 as its plants delivered record supplies of cement.

Holcim Philippines net sales from April to June rose by 9.7 per cent to PHP9.4bn (US$203m) from PHP8.6bn in the 1Q15. The company’s second-quarter net income improved by 1.6 per cent QoQ to PHP1.5bn due to higher volume and prices.

Holcim Philippines President and CEO, Eduardo A Sahagun, said keeping operations steady is important at a time of sustained strong demand.

“Further improving the efficiency of our production facilities has been the focus of management. Our investment in facility upgrades allows our plants to run longer before scheduled maintenance activities. This will pay off in the current market environment as we are able to meet the demands of customers,” he said.

For the first half of 2015, the company earned PHP18bn in revenues, higher by 6.7 per cent than the previous year’s PHP16.9bn. Holcim Philippines first-half profits reached PHP3bn, slightly lower than last year due to the early implementation of plant maintenance activities and higher usage of more expensive imported clinker in the first quarter.

To fulfill Holcim’s commitment to supply the market, Sahagun said the company has new initiatives to meet the demand.

“We understand that contractors are most concerned with steady cement supply and this is what we are trying to address in the second half. We will further improve our ability to supply our customers so that they finish their projects on time,” he added.

Published under Cement News