Taguig—(PHStocks)—Construction solutions provider Holcim Philippines Inc. (PSE: HLCM) posted another strong financial performance in 2016, amid increased competition from local players and imports attracted by the country’s robust economy and strong building activity.
Holcim Philippines’ 2016 revenues grew by 7.5% to PhP40.3 billion from the previous year on higher cement volumes and price.
With higher revenues and manufacturing and distribution excellence, operating EBITDA increased by 14% to PhP10.8 billion from PhP9.5 billion a year ago.
Net income reached PhP6.8 billion compared with 2015’s PhP8.1 billion, which benefited from a one-time gain of PhP2.6 billion from the revaluation of Holcim Philippines’ investment in an affiliate. Without the one-off item in 2015, profits were higher by 24% in 2016 on effective management of manufacturing costs even as the company raised its cement production capacity.
“Ensuring stable supply is critical in these times of high building activity. Last year, we demonstrated our commitment to keep the market supplied by raising our production capacity and leaning on our strong regional network. As a result, we showed our customers we are a reliable partner which helped us compete even with the entry of new players,” Holcim Philippines Chief Operating Officer Sapna Sood said. “Aside from raising our production capacity, we are well positioned to introduce more value-adding construction solutions from the LafargeHolcim Group to help the country build better as it embarks on more sophisticated construction projects.”
About Holcim Philippines
Holcim Philippines Inc. (Philippine Stock Exchange: HLCM) is one of the leading construction solution companies in the country. The Company has a wide range of innovative construction solutions that help homeowners to largecontractors in their building needs.
With cement manufacturing facilities in La Union, Bulacan, Misamis Oriental and Davao, mobile concrete ready-mix facilities and an aggregates business backed by a strong nationwide network of dealers, Holcim Philippines is a reliable partner of builders in the country. Holcim Philippines is also committed to the highest standards of sustainable operations and manufacturing excellence with its plants certified under ISO 14001:2004 (Environmental Management System), ISO 9001:2008 (Quality Management System) and OHSAS 18001:2007 (Occupational Health and Safety Management System).
Holcim Philippines is a member of the LafargeHolcim Group, the world leader in the building materials industry present in 90 countries with over 100,000 employees.