· Strong sales continued due to the sustained construction activity nationwide
· Higher volumes of expensive imported clinker were used to to support the market
· Focus on operational efficiency to help the company’s performance as demand stays strong during summer
Leading cement manufacturer Holcim Philippines, Inc. recorded higher sales in the first quarter of 2015 due to the sustained construction activity nationwide.
Holcim Philippines sales revenues from January to March grew by 6.6% to Php8.6 billion from Php8.1 billion in the same period last year.
Given the strong demand and changes in plant shutdown schedules, the company used higher volumes of imported clinker compared to last year, which led to a slightly lower net income of Php1.5 billion.
“The strong demand for cement required us to use imported clinker, which costs almost twice as much as our own, to support the market and meet our commitment to provide stable supply,” said Holcim Philippines President and CEO Eduardo A. Sahagun.
The Holcim Philippines President said the company will continue to focus on operational efficiency to manage costs and keep supply stable, as the already robust construction picks up further during summer.
Sahagun added that the rebound in government spending for infrastructure, the expansion of the private commercial, residential and industrial developments and the increased pace of public-private partnership project rollouts provide the company numerous opportunities.