· Strong sales pushed the company to a new record and top its 2013 financial performance.
· Sustained construction activity provides numerous opportunities for the cement industry moving forward.
With robust construction activity sustained in 2014, leading cement manufacturer Holcim Philippines, Inc. surpassed its record financial performance in 2013 on strong sales growth.
Led by the private sector, the construction industry grew by double-digits last year to keep cement in high demand. With this, Holcim Philippines cement sales volume rose 12.3% from last year to help the company achieve revenues of Php32.6 billion, which is 13% higher compared to the same period last year.
Effective cost management in manufacturing, distribution and support groups allowed it to minimize the impact of expensive imported clinker on net profits, which improved by 12.9% to Php5.1 billion from the previous year.
“The healthy economy continues to provide opportunities for our business to thrive. Last year, with the sustained construction boom, the challenge was ensuring that there is enough supply so these projects are completed on time and on budget. Our company is proud to have met this challenge and contributed to the country’s development,” said Holcim Philippines President and CEO Eduardo A. Sahagun.
For 2015, Sahagun said the company will focus on continuing to improve its ability to supply the market through efficiency initiatives in manufacturing and logistics. He added that Holcim Philippines will sustain its commitment to deliver products and services that keep customers delighted.
Sahagun said that the higher government budget for infrastructure, sustained private sector expansion and faster implementation of public-private partnership projects will provide the cement industry with numerous opportunities.