Holcim Philippines Inc. reported its profit last year surged 41.3 percent to P3.59 billion, from P2.54 billion the year before.
This despite sales dropped 5.98 percent to P33.49 billion, from P35.62 billion the prior year.
“We made significant progress in improving our company’s ability to deliver strong profitable returns to our shareholders last year. Our sustained focus on operational efficiency and cost discipline for the past years lifted our bottom line,” said John Stull, Holcim president.
“With the completion of our capacity expansion projects, commercial innovations and stronger cost and efficiency mindset, Holcim Philippines is well positioned to deliver sustainable and healthy growth to shareholders and continue our support to this country’s development,” Stull added.
Stull said Holcim posted earnings before interest, tax, depreciation and amortization (EBITDA) of P6.7 billion, up 36.7 percent from P4.9 billion in 2018, “as the company benefitted from initiatives to raise efficiencies and improve costs across all areas of the business.”
“A more favorable product mix and the steady contribution of its aggregates unit also helped business performance,” he said.
“In the fourth quarter, revenues rose by 17.4 percent to P9.8 billion from P8.4 billion in the same period last year. The company’s operating EBITDA surged by 66.9 percent to P2.5 billion, while net profits more than doubled to P1.7 billion,” he added.
