Strong market lifts Holcim Philippines to best ever performance
Holcim Philippines set new financial records in 2013 as revenues grew 6% from last year to Php28.9 billion while profits rose 28% year-on-year to Php4.6 billion due to the strong market and good cost management
Sales benefited from the growth in cement demand on the construction sector’s continued rise in a thriving economy
The company is optimistic about the market for 2014 and believes greater focus on further delighting customers and developing its talent base will help sustain performance
Leading cement manufacturer Holcim Philippines, Inc. achieved its best ever financial performance last year as sales remained strong with the steady construction activity nationwide amid the positive economic climate.
Revenues grew year-on-year by 6% to a record Php28.9 billion from 2012’s Php27.2 billion, helped by good price management and steady volumes on the continued growth of cement demand. The market was made robust by the government’s heavy investments on infrastructure and the private sector’s commercial, residential and industrial projects.
As the construction industry posted another double-digit growth in a healthy economy, the company again resorted to importing clinker, which costs more than its own production, to keep the market amply supplied.
As a result, net income rose by 28% to a new high of Php4.6 billion compared to 2012’s Php3.6 billion. The profit growth was also helped by the company’s successful initiatives to manage costs.
“Our company benefited from the good business environment, which has allowed the construction boom to persist and cement demand to thrive. Credit should also go to our people, who did their part in attaining this record performance by focusing on areas within our control such as efficiency and costs,” said Holcim Philippines CEO Eduardo A. Sahagun.
In anticipation of the continued demand growth this year, Sahagun shared that the company finished major projects in 2013 such as capacity upgrades for its La Union and Misamis Oriental plants and the reactivation of its idle grinding facility in Batangas.
For 2014, Sahagun said Holcim Philippines plans to build on its 2013 achievements by strengthening its focus on customers and employees.
“We expect 2014 to be again filled with opportunities for our business. We believe that the best way to capture those is by continuing our thrust to develop our people so they can deliver the services that will further raise our customer’s satisfaction and firm up our relationship with them,” he said.