30 Jul Holcim swings to profit as sales soar by 65%
Holcim Philippines, Inc. posted a net income of P721.39 million in the April-to-June period, reversing its P87.71 million loss in the same period last year as sales surged following the resumption of construction activity.
In a disclosure to the exchange on Friday, the company said it also recorded a 65% net sales growth in the second quarter, generating P6.86 billion this year from P4.15 billion “as demand and prices recovered with the rebound in construction activity.”
“Aside from delivering outstanding results, we also helped our partners build greener, smarter, and for all,” Holcim Philippines President and Chief Executive Officer Horia Ciprian Adrian said in a statement on Friday.
The company said it consumed over 208,000 tons of wastes as its alternative fuels and raw materials in its plants.
Earlier this month, Holcim Philippines inked an agreement with Sinoma CBMIPH Construction Corp. to create drying facilities at its cement plants in Bacnotan in La Union and in Lugait, Misamis Oriental.
This will help the plants reduce fuel consumption and increase cement production, the company said.
“We are also making huge strides in innovation and digitalization with our Easybuild digital platform now used by 99% of our customers for a better experience in transacting with us particularly in placing orders and monitoring deliveries,” Mr. Adrian said.
For the first semester, the company saw its profit improve by nearly four times to P1.63 billion from P413.83 million. Meanwhile, net sales rose by 20% to P13.66 billion from P11.42 billion in the same period last year.
Shares of Holcim Philippines went down by 1.24% or eight centavos on Friday to close at P6.35 apiece. — Keren Concepcion G. Valmonte