Taguig—(PHStocks)—Holcim Philippines Inc. (PSE: HLCM) achieved new financial records in 2015 on improved operations and record sales volumes, as the robust construction activity nationwide pushed cement demand higher.
Holcim’s full year 2015 revenues rose by 14.9% to PhP37.5 billion from the previous year on higher sales revenues. The company raised operating efficiency to meet the strong demand driven by the public sector’s heavy spending in the second half.
With the strong sales performance, effective cost management initiatives and manufacturing and distribution excellence, the company’s recurring net income rose by 7% from last year to PhP5.5 billion after considering one-off costs amounting to PhP677 million. Moreover, its total net income rose 58.4% to PhP8.1 billion, boosted by a one-time gain of PhP2.6 billion from the revaluation of its investment in an affiliate.
Holcim Philippines President and Country CEO Eduardo A. Sahagun said investments in its facilities enabled the company for better operating efficiency. The company also drew on its regional strength to meet the robust demand.
“The local cement market has greatly changed due to the sustained investments of the public and private sectors in the past years. Serving the market required us to act differently and we did just that by pushing our plants to new limits and strengthening our logistics operations,” he said.
Sahagun said the initiatives to raise Holcim Philippines’s annual capacity to 10 million tons from 8 million are underway and on time and will improve the company’s ability to support the country’s development.
He added that Holcim Philippines is better positioned to support the building industry with a wider range of construction solutions through its recently acquired aggregates unit and growing ready-mix concrete businesses.