Holcim Philippines reports 35% EBITDA surge in 1Q19

Holcim Philippines reports 35% EBITDA surge in 1Q19
05 June 2019

Holcim Philippines has reported a 5.8 per cent YoY decrease in revenue to PHP8.1bn (U$156.28m) for the first quarter of 2019. However, EBITDA has surged 35 per cent to PHP1.7bn while its EBITDA margin climbed from 14.6 per cent to 20.8 per cent in the 1Q19. A minor increase in net profit to PHP704m from PHP700m has been attributed to higher interest expenses for funding capital projects.

"I am very pleased to share that we have successfully followed up our strong finish in 2018 with an excellent start of the year. This confirms the effectiveness of our plans to deliver profitable growth and sustainable returns," said John Stull, president and CEO.

Mr Stull also noted how increased efficiencies benefitted the company in the 1Q19. "Our focus on raising profitability through tighter cost management, improved operational efficiency and commercial innovation continues to pay off as seen in our business results, and we are determined to build on these further. We will continue to execute with precision to deliver on shareholders’ expectations and become a stronger partner in the country’s progress."

Published under Cement News