Construction growth, efficiency initiatives sustain Holcim Philippines performance in Q3
Key Messages
- Holcim Philippines sustained its strong financial performance in Q3 as a result of strong sales and improved operational efficiency.
- The company continues to support the construction industry’s strong growth with its improved cement production capacity and innovative building solutions.
With cement demand boosted by steady public and private building activity nationwide, construction solution provider Holcim Philippines reported a robust financial performance in the third quarter.
The company’s net income for the Q3 period rose by 15.3% to Php 1.76 billion from Php 1.53 billion in the previous year, while operating EBITDA increased by 11% to Php2.78 billion. The improvements were driven by sustained gains in operational efficiencies implemented at the start of the year and higher cement sales that led to revenues of Php9.99 billion for the period.
Holcim Philippines' financial performance from January to September was also better than last year’s. Profits increased by almost a fifth to Php 5.42 billion or Php.084 earnings per share, while EBITDA was higher by 16.65% at Php8.53 billion. The cement sales improvement for the year led to revenues of Php30.81 billion, a 10% increase.
The overall cement demand was fueled by the government’s increased infrastructure investments and the private sector’s rollout of projects amid a healthy economy.
To support the country’s development and focus on infrastructure, Holcim Philippines has implemented projects to increase its annual cement production capacity to 10 million metric tons up from eight million tons, and has introduced a range of innovative construction solutions to the market.
